Oxea Sarl reports robust Q3 results

Oxea Sarl has announced Q3 net sales of €382.8M, an increase of 4% y-on-y.
After a very strong first half year of 2011 with record performance in both revenues and EBITDA, Oxea’s Q3 performance was affected by the general seasonality of the industry and the overall softening of the world economy. Notwithstanding the weak economic trend in the USA and European regions as well as in China, Oxea achieved an Adjusted EBITDA of €48.6M and increased revenues compared with the corresponding period of the prior year, which again underlines the robustness of the business model. Operating Profit and Net Income of the prior year period included a net gain of some €39.7M on divestures. Under consideration of this exceptional item Operating Profit of €43.9M and Net Income of €21.9M in Q3 of 2011 traded in line with the prior year period. Adjusted EBITDA for the nine months ended September 2011 amounted to €170.7M reflecting an increase of 29% y-on-y and underlines the continued relationships with customers and the contribution of Oxea’s employees to the success of the business.