MALMÖ, Sweden — Perstorp Holding AB, the parent company for specialty chemicals company Perstorp, announced its interim report for the second quarter of 2020.
Net sales decreased 32% to SEK 2,079 million. Excluding currency effects, sales prices in the second quarter were substantially lower than the corresponding quarter last year in EMEA and APAC, mainly linked to lower raw material prices.
Organic volume-based sales growth was -22% year-on-year. EBITDA excluding non-recurring items amounted to SEK 265 million. EBITDA-margin excluding non-recurring items was 12.7%.
“The second quarter was characterized by a clear slowdown of demand. Although EBITDA decreased by 27% during the quarter, Perstorp has demonstrated its ability to act with agility, defending margins and swiftly implementing programs for fixed cost reductions and cash preservation. Our available funds increased during the quarter by SEK 290 million and amounted to SEK 1,234 million at June 30," said Jan Secher, Perstorp President and CEO.