Sequana reported 1Q net income of Euro 24 million
May 02, 2011. Sequana‘s consolidated sales for the 1Q 2011 came in at Euro 1,016 million, versus Euro 974 million in the first 1Q 2010. Net income attributable to owners totalled Euro 24 million, compared to Euro 4 million in the same period in 2010.
May 02, 2011. /Lesprom Network/. Sequana‘s consolidated sales for the 1Q 2011 came in at Euro 1,016 million, versus Euro 974 million in the first 1Q 2010, as the company said in a press release received by Lesprom Network.
This 4.3% growth in sales reflects the various selling price increases implemented in 2010, which more than offset the marked decline in volumes, chiefly in the graphic papers segment at Arjowiggins and Antalis. Sales rose 1.9% year-on-year at constant exchange rates.
EBITDA for the quarter came in at Euro 41 million (4.1% of sales), down 10.6% from the 1Q 2010. Recurring operating income was Euro 25 million, compared with Euro 28 million a year ago. The expected decline in operating performance during the first quarter reflects the negative impact of the relentless rise in raw material and energy costs.
Recurring net income for the quarter came in at Euro 11 million versus Euro 12 million in the 1Q 2010. Including non-recurring items (mainly the capital gain on the January 2011 sale of Antalis Office Supplies in Spain and Portugal), net income attributable to owners totalled Euro 24 million, compared to Euro 4 million in the same period in 2010.