Cheminova’s 2011 revenues up 10%
Cheminova has recorded revenues of just under DKK 5,800 million ($1,010 million at the current rate) in 2011, reveal unaudited preliminary figures. That translates into an increase of 10.4% on the previous year ( Agrow No 613, pp 4-5). Earnings before interest and tax (EBIT) touched DKK 320 million ($56 million), while the EBITDA margin was around 8.5%. The results are in line with its previously forecast revenues of DKK 5,800 million, an EBITDA margin of 8-10% and EBIT in the range of DKK 300-400 million ($52-70 million – Agrow No 628, p 5). The only deviation was in the cash flow from operating activities of approximately DKK 180 million ($31 million), which is lower than the expectation of over DKK 336 million ($59 million).