Cheminova’s Q3 agchem sales up 3%
Cheminova recorded a 2.7% increase in agrochemical sales to DKK 1,339 million ($248 million at the current rate) in the third quarter of 2011. Consolidated group revenues went up by 4.2% to DKK 1,440 million ($266 million). Earnings before interest, tax, depreciation and amortisation (EBITDA) more than doubled to DKK 121 million ($22 million). EBIT rose over ten times to DKK 78 million ($14 million). Price increases averaging some 3% offset negative currency effects. The earnings performance resembled that in the first quarter ( Agrow No 617, p 5) and was in contrast to the second quarter when both EBITDA and EBIT were down ( Agrow No 623, pp 4-5).