Croda - Innovation you can build on™ Innovation you can build on™
  • About Us About Us
      • Explore - About Us Explore - About Us
        • Who We Are
          • Our Board of Directors
          • Our Executive Committee
        • Corporate Animation
        • What We Do
          • How We Operate
            • Organisation Membership
          • Policies and Procedures
            • Company Policy Download Area
        • Where We Operate
          • Asia
            • Australia
            • Greater China
            • India
              • Announcements
            • Indonesia
            • Japan
            • Korea
            • Singapore
            • Thailand
            • Vietnam
          • Europe, Middle East & Africa
            • France
            • Germany
            • Italy
              • Policies/Politiche
              • Cerificati Qualità/Quality Certificates
              • Condizioni Generali di Acquisto General Conditions of Purchase
              • Condizioni Generali di Vendita General Conditions of Sales
              • Codice Etico/Code of Ethics
              • Modello Organizzativo D Lgs 231 01 Parte Generale
              • Dichiarazione di Principio per la Sicurezza e Salute in Azienda e Protezione dell ambiente
              • Informativa Privacy per lItalia
            • Netherlands
            • Poland
            • Russia
            • South Africa
            • Spain
            • Sweden
            • Turkey
            • United Arab Emirates
            • United Kingdom
          • Latin America
            • Argentina
            • Brazil
            • Chile
            • Columbia
            • Mexico
            • Peru
          • North America
            • Canada
            • USA
        • Our History
          • 50 Years as a Public Company
            • 50 Years of Innovation Timeline
          • Our Timeline
      • Internal innovation at Croda

        Corporate Animation

        Find out more about our unique culture and how we create, make and sell innovative, sustainable, high performance speciality chemicals that are relied on by industries and consumers everywhere.
        Learn more
  • Products and Markets Products and Markets
      • Explore - Products and Markets Explore - Products and Markets
        • Adhesives
        • Agrochemicals
        • Automotive & Transport
        • Beauty & Personal Care
        • Buildings & Construction
        • Dietary Supplements
        • Electronics & Devices
        • Energy, Resources & Renewables
        • Food & Feed
        • Furniture & Wood
        • Household, Industrial & Institutional Cleaning
        • Lubricants
        • Oleochemicals
        • Packaging, Print & Paper
        • Paints & Coatings
        • Pharmaceuticals
        • Phase Change Materials & Thermal Management
        • Polymers & Additives
        • Skin Health
        • Textiles, Nonwovens & Tissues
        • Water Treatment
      • Recepetion area at Croda office

        Events

        We host and attend a number of exhibitions and trade shows throughout the year.
        Events Calendar
  • Investors Investors
      • Explore - Investors Explore - Investors
        • Financial Calendar
        • Investment Case
        • Results and Trading Statements
          • Presentations
        • Sell Side Coverage
        • Annual Report
          • How We Performed
          • Request a Copy
          • Annual Report Archive
          • Group Independent Auditors' Report
        • Investor Day
        • Shareholder Information
          • AGM
            • 2017 Results
            • 2017 Resolutions
            • 2018 Resolutions
            • 2016 Resolutions
            • 2016 Results
            • 2015 Resolutions
            • 2015 Results
            • 2014 Resolutions
            • 2014 Results
            • 2013 Resolutions
            • 2013 Results
          • Dividend History
          • Buying and Selling Shares
        • Governance
          • Board of Directors
            • Terms of Appointment
          • Board Responsibilities
          • Board Committees
            • Audit Committee
            • Remuneration Committee
            • Nomination Committee
          • Other Committees
          • Internal Control
          • Company Policies
        • Detailed Share Price
          • Share Charts
        • Regulatory News
        • Acquisitions
        • Email Alerts
          • Unsubscribe
        • Contact Investor Relations
        • Acquisition of Plant Impact Plc - Public Documents
      • Annual report cover 2016

        Annual Report

        For more information about our performance please view our latest Annual Report.
        View here
  • Sustainability Sustainability
      • Explore - Sustainability Explore - Sustainability
        • Our Approach
          • Group Chief Executive's Statement
          • Delivering Sustainability
        • Carbon Verification
        • Material Areas
          • Environmental Impact
          • Product Stewardship
            • Palm Oil
              • Palm Oil Statement
              • Palm Oil Background
              • Palm Oil Strategy
          • Product Design
            • Green Chemistry
          • Quality Assurance
            • EFfCI
            • EXCiPACT
            • Responsible Care
            • REACH
          • Process Safety
          • Occupational Health and Safety
          • Our People
          • Knowledge Management
          • Diversity and Inclusion
          • Community Education and Involvement
            • 1% Club
            • Science for Schools
        • Targets
        • Sustainability Reports
          • Sustainability Reports Archive
        • GRI Report
          • Content Index
          • General Disclosures
            • Strategy and Analysis
            • Organisational Profile
            • Identified Material Aspects and Boundaries
            • Stakeholder Engagement
            • Report Profile
            • Governance
            • Ethics and Integrity
          • Specific Disclosures
            • Economic Performance
            • Environmental Performance
            • Human Rights Performance
            • Labour Practices & Decent Work Performance
            • Societal Performance
            • Product Responsibility Performance
          • GRI Report Archive
      • Sustainability

        Sustainability

        Learn about our sustainability achievements as we celebrate our 10th anniversary of publishing a Sustainability Report
        View here
  • Innovation Innovation
      • Explore - Innovation Explore - Innovation
        • Our Innovation
        • Open Innovation
        • Technology Investment
        • Contact Innovation
      • Technology Investment at Croda

        Innovation

        Our Technology Investment Group (TIG) is the function that drives the acquisition and licensing of innovative technologies. If you would like to get in touch with our TIG group please visit our Technology Investment Group page for details.
        Technology Investment at Croda
  • Careers Careers
      • Explore - Careers Explore - Careers
        • Why Join Croda?
        • Discover Croda
          • Our History
          • Who We Are
          • Markets We Serve
          • The Croda Culture
        • Talent Development
        • Our Employees
          • Latin America
            • Angelica Matos
            • Angelica Nova
            • Carlos Eduardo Silva
            • Emerson Dallan
            • Fernando Vinagre
            • Giovanna Torresan
            • Jorge Alvarado
            • Juliana Cuadros
            • Magda Machado
            • Marco Cantanhede
            • Mauricio Modesto
            • Paulo Trevisan
          • North America
            • Cameron Abid
            • Cindy Brungard
            • Debbie Rummel
            • Farahdia Edouard
            • Patricia Van EE
            • Robert Stewart
            • Suresh Swaminathan
          • Asia
            • Akira Ichii
            • Chuleelin Piyakaiwan
            • Nick Challoner
            • Crane Chen
            • Yong Chuan Lew
            • Meindra
            • Paul Cameron
            • Raquel Mirabent
            • Rupark Sarswat
            • Ryota Koesawa
            • Um Ji Hong
          • Europe & EEMEA
            • Christa Revoort
            • Christopher BB
            • Meritxell Rulo
            • Jamie Pocklington
            • Kevin Bozec
            • Mike Hindley
            • Nicola Daniels
            • Nicola Readman
            • Paola Manuello
            • Richard Hadley
            • Ruth Ellway
            • Sandra Breene
            • Sarah Millns
            • Sebastian Moughli
            • Vincent Tison
          • Employee Videos
        • Our Locations
          • Asia
            • Australia
            • Greater China
            • India
            • Indonesia
            • Japan
            • Korea
            • Singapore
            • Thailand
            • Vietnam
          • Europe, Middle East & Africa
            • France
            • Germany
            • Italy
            • Netherlands
            • Poland
            • Russia
            • South Africa
            • Spain
            • Sweden
            • Turkey
            • United Arab Emirates
            • United Kingdom
          • Latin America
            • Argentina
            • Brazil
            • Chile
            • Columbia
            • Mexico
            • Peru
          • North America
            • Canada
            • USA
        • Career Opportunities
          • Professional Development
          • Personal Development
        • Graduate Opportunities
          • Essential Information
          • Training for Graduates
            • Residential Training
            • Placements and Projects
            • Mentoring and CPD
          • Programmes Available
            • Asia
            • Europe and EEMEA
            • Latin America
            • North America
        • Current Vacancies
        • Recruitment Process
        • Work Experience
        • Contact Us
      • Working in Croda's formulation lab

        Careers

        Would you like to find out what it's like to start your career at Croda?
        Career Opportunities
  • News News
      • Explore - News Explore - News
        • Company Updates
        • Events
        • Innovation
        • Sustainability
        • Trends
      • Recepetion area at Croda office

        Events

        We host and attend a number of exhibitions and trade shows throughout the year.
        Events Calendar
  • Contact Contact
      • Explore - Contact Explore - Contact
        • How to find our headquarters
      • coloured chemicals

        MSDS

        View and download MSDS' in multiple languages for products manufactured at our European and North American manufacturing sites.
        View here
  1. Home
  2. Investors
  3. Results and Trading Statements

In this section

  • Financial Calendar
  • Investment Case
  • Results and Trading Statements
    • Presentations
  • Sell Side Coverage
  • Annual Report
  • Investor Day
  • Shareholder Information
  • Governance
  • Detailed Share Price
  • Regulatory News
  • Acquisitions
  • Email Alerts
  • Contact Investor Relations
  • Acquisition of Plant Impact Plc - Public Documents

Results and Trading Statements


Full Year Announcement 2017

27 Feb 2018
The Preliminary Results Announcement on the 27th February 2018 is now available in PDF format.
Croda 2017 Preliminary Results Download
(pdf,752.8 KB)
Croda 2017 Preliminary Results Presentation Download
(pdf,2.1 MB)

Third Quarter Trading Update

31 Oct 2017
Croda announces its trading update for the third quarter of 2017
2017 Third Quarter Trading Results Download
(pdf,308.4 KB)

Half Year Announcement 2017

25 Jul 2017
The half year results announcement on the 25th July 2017 is now available in PDF format.
Half Year Report 2017 Download
(pdf,296.2 KB)
Half Year Report 2017 Presentation Download
(pdf,1.8 MB)

First Quarter Announcement 2017

26 Apr 2017
Croda announces its first quarter 2017 trading update.
First Quarter Trading Update 2017 Download
(pdf,3.6 KB)

Full Year Announcement 2016

28 Feb 2017

The Preliminary Results Announcement on the 28th February 2017 is now available in PDF format.

Croda 2016 Preliminary Results Download
(pdf,313.5 KB)
Croda 2016 Preliminary Results Presentation Download
(pdf,2.3 MB)

Third Quarter Announcement 2016

3 Nov 2016
Croda announces its trading update for the third quarter of 2016
Q3 2016 Trading Statement Download
(pdf,294.9 KB)

Half Year Announcement 2016

26 Jul 2016
The half year results announcement on the 26th July 2016 is now available in PDF format.
Half Year Report 2016 Download
(pdf,142.8 KB)
Half Year Report 2016 Presentation Download
(pdf,2.5 MB)

First Quarter Announcement 2016

27 Apr 2016
Croda announces its first quarter 2016 trading update.
First Quarter Trading Update 2016 Download
(pdf,83.5 KB)

Full Year Announcement 2015

23 Feb 2016
The Preliminary Results Announcement on the 23rd February 2016 is now available in PDF format.
Croda 2015 Preliminary Results Presentation Download
(pdf,2.1 MB)
Croda 2015 Preliminary Results Download
(pdf,117.7 KB)

Third Quarter Announcement 2015

5 Nov 2015
Croda announces its results for the nine months to 30th September 2015
Croda Q3 Trading Statement Download
(pdf,98.7 KB)

Half Year Announcement 2015

21 Jul 2015
The half year results announcement on the 21st July 2015 is now available in PDF format.
Half Year Report 21-07-15 Download
(pdf,436.4 KB)
Half Year Report 21-07-15 Presentation Download
(pdf,2.0 MB)

AGM Trading Statement 2015

22 Apr 2015
Croda announces its AGM trading statement for 2015
AGM Trading Statement 2015 Download
(pdf,139.1 KB)

Full Year Announcement 2014

24 Feb 2015
The Preliminary Results Announcement on the 24th February 2015 is now available in PDF format.
Croda 2014 Preliminary Results Download
(pdf,468.8 KB)
Croda 2014 Preliminary Results Presentation Download
(pdf,1.9 MB)

Third Quarter Announcement 2014

7 Nov 2014
Croda announces its results for the nine months to 30th September 2014
Croda Q3 2014 Trading Statement Download
(pdf,159.0 KB)

Half Year Announcement 2014

22 Jul 2014
The Interim results announcement on the 22nd July 2014 is now available in PDF format.
Interim Report 22-07-14 Download
(pdf,223.3 KB)

Q2 2014 Pre-Close Trading Update

24 Jun 2014
The Quarter Two 2014 Pre-Close Trading Update on the 24th June 2014 is now available in PDF format.
Q2 2014 Trading Update Download
(pdf,16.6 KB)

AGM Trading Statement 2014

24 Apr 2014
Croda announces its AGM trading statement for 2014.

Croda announces its AGM trading statement for 2014.

AGM and Interim Management Statement

PROFITABILITY IMPROVED DESPITE ADVERSE CURRENCY TRANSLATION

Croda International Plc today announces its Interim Management Statement for the period since 31 December 2013.

Trading

The modest but improving growth trend in underlying sales seen in the second half of 2013 continued through the first quarter of 2014, despite the disruption caused by the severe weather in North America and difficult economic conditions in South America. On a constant currency basis, Group turnover was up 2.9% with acquisitions contributing 1.6% to this total. However, adverse currency translation of 6.1% meant that reported sales in sterling were down 3.2% to £274.0m (2013: £283.1m).

Group operating profit increased 1.0% to £68.7m (2013: £68.0m). Operating margins increased to 25.1% (2013: 24.0%), reflecting favourable product mix. Return on sales increased to 33.3% (2013: 31.1%) in Consumer Care and to 19.0% (2013: 17.0%) in Performance Technologies as both divisions continued to benefit from strong underlying demand for high value products. Industrial Chemicals’ return on sales reduced to 4.7% (2013: 9.1%), reflecting the integration of Sipo and weaker commodity margins generally.

Pre-tax profits increased slightly to £65.2m (2013: £65.1m) with a stronger underlying performance offset by a £3.5m impact from adverse currency translation.

On a divisional basis, underlying Consumer Care sales decreased by 0.6%. Crop Care was impacted by heavy snow in North America during January and February and weak sales into Eastern Europe. Weak sales in North America and challenging economic conditions in South America were the main reasons behind modest underlying sales declines in Personal Care. Health Care growth was strong in almost all geographies. A further 0.5% contribution to sales growth came from acquisitions.

Underlying sales in Performance Technologies were up 3.7%, continuing the improved trend seen in the final quarter of 2013. Business in Asia was particularly strong. All business areas apart from Home Care saw good sales growth. The Sipo acquisition added an additional 1.7% to turnover.

Underlying Industrial Chemicals sales were up 2.7% and again, Sipo added a further 7.2% to the growth.

Financial Position

There has been no significant change in Croda’s financial position during the period. Interest costs in the quarter were slightly higher than 2013 due to the consolidation of 100% of Sipo’s debt.

Underlying cash generation was again strong in the quarter, with net debt falling £13.6m to £188.6m even after paying over £20m into the UK pension fund in January.

Outlook

We expect the modest improvement in underlying sales growth seen in the first quarter to continue. However, adverse currency translation is expected to remain an issue and consequently, second quarter performance is likely to be similar to that seen in the first quarter. The Board is confident that the Group has the right strategy in place to continue to drive profitable underlying growth.

 

For further information please contact:

Steve Foots/Sean Christie Croda International Plc

Charlie Armitstead/ Rosie Oddy Pendomer Communications

 

Tel: 01405 860551

 

Tel:   020 3603 5220

  

The company will host a conference call for analysts at 8.00am (BST) today:

Dial-In: +44 (0) 203 426 2888 Please quote “Croda International” to gain access to the call

 

Croda International Plc Unaudited income statement for continuing operations 31 March 2014

 

3 months to

3 months to

 

 

31 March

31 March

 

 

2014

2013

Change

Revenue

 

 

 

Consumer Care

148.4

158.4

-6.3%

Performance Technologies

93.8

93.9

-0.1%

Industrial Chemicals

31.8

30.8

+3.2%

 

274.0

283.1

-3.2%

Adjusted operating profit1

 

 

 

Consumer Care

49.4

49.2

+0.4%

Performance Technologies

17.8

16.0

+11.3%

Industrial Chemicals

1.5

2.8

-46.4%

 

68.7

68.0

+1.0%

 

 

 

 

Net bank and loan interest payable

(2.3)

  (1.7)

 

Net retirement benefit scheme financing

(1.2)

(1.2) 

 

Adjusted profit before tax1

65.2

65.1

+0.2%

 

 

 

 

Operating margin

25.1%

24.0%

 

 

Analysis of turnover uplift for continuing operations:

 

 

 

 

 

 

 

 

 

 

Constant

Currency

 

 

Underlying

Acquisitions

Currency

translation

Total

Consumer Care

-0.6%

+0.5%

-0.1%

-6.2%

-6.3%

Performance Technologies

+3.7%

+1.7%

+5.4%

-5.5%

-0.1%

Industrial Chemicals

+2.7%

+7.2%

+9.9%

-6.7%

+3.2%

Total

+1.3%

+1.6%

+2.9%

-6.1%

-3.2%

1 Continuing operations before exceptional items, acquisition costs and amortisation/write off of intangible assets arising on acquisition.

Full Year Announcement 2013

25 Feb 2014
The Preliminary Results Announcement on the 25th February 2014 is now available in PDF format.
Croda 2014 Preliminary Results Presentation Download
(pdf,1.9 MB)

Third Quarter Announcement 2013

31 Oct 2013
Croda announces its results for the nine months to 30 September 2013
Croda Q3 IMS 2013 Download
(pdf,147.3 KB)

Half Year Announcement 2013

23 Jul 2013
The Interim results announcement on the 23rd July 2013 is now available in PDF format.
Interim Report 23-07-13 Download
(pdf,526.7 KB)

AGM Trading Statement 2013

25 Apr 2013
Croda announces its AGM trading statement for 2013.

AGM and Interim Management Statement

SOLID START TO 2013; OUTLOOK MAINTAINED

Croda International Plc today announces its Interim Management Statement for the period since 31 December 2012.

Pre-tax profits for the first quarter of 2013 were up 6.5% to £65.1m (2012: £61.1m). This was achieved against a particularly strong performance in the same period in 2012 and despite the adverse impact of an earlier Easter this year.

Group turnover grew marginally by 0.4% to £283.1m (2012: £281.9m). Consumer Care sales were broadly stable at £158.4m (2012: £159.1m), with Crop Care weaker due to the poor weather experienced in a number of regions throughout the period. Personal Care and Health Care sales were flat. Performance Technologies sales were also stable, down only 0.3% to £102.4m (2012: £102.7m) with continuing weakness in Lubricants being the major factor. Industrial Chemicals sales were up 10.4% at £22.3m (2012: £20.2m).

Group operating profits were up 4.0% to £68.0m (2012: £65.4m) increasing return on sales by a further 0.8 percentage points to 24.0% for the quarter. Profits and margins improved in all three of our reporting segments. Consumer Care profits increased 2.3% to £49.2m (2012: £48.1m) with return on sales up at 31.1% (2012: 30.2%). Performance Technologies profits increased 1.9% to £16.1m (2012: £15.8m) with return on sales up at 15.7% (2012: 15.4%). In Industrial Chemicals, profit increased to £2.7m (2012: £1.5m) as a result of the strong sales uplift and favourable commodity prices.

Interest costs decreased due to the reduced pension fund deficit, helping achieve the 6.5% increase in pre-tax profits referred to earlier.

There has been no significant change in Croda’s financial position during the period. Underlying cash generation in the quarter continued to be good and at the end of March 2013 net debt was £211.1m, an increase of only £3.4m versus the year end despite a payment of £38m into the UK pension fund in January.

The Board believes that the Q1 result represents a solid start to the year. The outlook provided in February is unchanged and we expect to report further progress in 2013.

For further information, please contact:

Steve Foots, Group Chief Executive

Tel:   01405 860551

Sean Christie, Group Finance Director

 

Charlie Armitstead/ Rosie Oddy



Pendomer Communications

Tel:   020 3603 5220

The company will host a conference call for analysts at 8.00am (BST) today:

Dial-In: +44 203 426 2845

Please quote “Croda International” to gain access to the call

Croda International Plc Unaudited income statement before tax and exceptional items 31 March 2013

 

3 months to

3 months to

 

 

31 March

31 March

 

 

2013

2012

Change

 

 

 

 

Consumer Care

158.4

159.1

-0.4%

Performance Technologies

102.4

102.7

-0.3%

Industrial Chemicals

22.3

20.1

+10.9%

Revenues from continuing operations

283.1

281.9

+0.4%

 

 

 

 

Consumer Care

49.2

48.1

+2.3%

Performance Technologies

16.1

15.8

+1.9%

Industrial Chemicals

2.7

1.5

+80.0%

Operating profit from continuing operations

68.0

65.4

+4.0%

 

 

 

 

Net bank and loan interest payable

(1.7)

  (2.0)

 

Net retirement benefit scheme financing

(1.2)

(2.3) 

 

Profit before tax from continuing operations

65.1

61.1

+6.5%

 

 

 

 

Operating margin

24.0%

23.2%

 

 

 

 

 

 

Analysis of turnover uplift for continuing operations

 

 

 

 

 

 

 

   Volume

 

 

+0.1%

   Mix and price

 

 

-0.9%

   Underlying

 

 

-0.8%

   Acquisitions

 

 

+0.1%

   Currency translation

 

 

+1.1%

 

 

 

+0.4%

This statement has been prepared in accordance with the revised IAS19 rules regarding the accounting for post-retirement benefits. 2012 results have been restated so the figures are comparable.

Full Year Announcement 2012

26 Feb 2013
The Preliminary Results Announcement on the 26th February 2013 is now available in PDF format.
Croda 2012 Preliminary Results Download
(pdf,347.3 KB)

Third Quarter Announcement 2012

1 Nov 2012
Croda announces its results for the nine months to 30 September 2012.

Interim Management Statement and announcement of disposal

Croda International Plc (“Croda”) today announces its interim management statement for the period since 1 July 2012 and the disposal of its Italian business based in Cremona. All figures in this statement, including those for the comparative periods, exclude this business which will be treated as discontinued in the full year accounts.

Trading

Trading in the third quarter was robust considering the depressed market conditions, particularly in Europe. Underlying* Group sales were up 3.2% compared to 2011.

Month to month trading has been volatile: sales were in line with expectations in July and August but trading weakened in September, usually a strong month. Adverse currency translation averaged 2.8% but the exit rate for the quarter was 6.2%. Including the adverse currency impact, continuing sales were up 0.5% at £256.5m (2011: £255.2m). As in previous quarters, we saw turnover decline in Europe but experienced growth in all other major regions. Volumes were up 8.9% overall but the strongest growth came in lower value products in Performance Technologies and Industrial Chemicals (which were weak in the third quarter of 2011). This meant that average selling prices fell by 5.7%. We fully recovered raw material inflation.

Despite an adverse mix, operating margins increased to 23.3% (2011: 22.3%). As a result, continuing operating profit increased 4.7% to £59.7m (2011: £57.0m) and continuing pre-tax profit increased 4.4% to £59.3m (2011: £56.8m). Against a very strong third quarter in 2011, Consumer Care sales were down 2.7% due to slow Personal Care sales, particularly in Europe. Health Care and Crop Care both saw sales increase in the quarter. Return on sales grew 2.5 percentage points to 31.4% driven primarily by a number of successful product launches but also due to a lower allocation of central costs as a consequence of the reduced turnover. This resulted in operating profit growth of 5.7% to £44.2m (2011: £41.8m).

Performance Technologies sales were up 2.5% at £94.7m (2011: £92.4m). We saw growth in all business sectors apart from Lubricant Additives. Again, we successfully launched a significant number of new products but the strongest growth in the quarter came from existing, lower margin, less differentiated products. The higher volumes relative to Consumer Care led to an increased allocation of central costs to this segment. These factors reduced overall return on sales to 14.1% (2011: 14.8%) and resulted in a profit reduction of 2.2% to £13.4m (2011: £13.7m).

Industrial Chemicals performed strongly with sales up 16.1% to £20.9m (2011: £18.0m). Profits in this sector increased 40.0% to £2.1m (2011: £1.5m).

Despite the soft trading environment in Europe and the currency headwinds, our operating profit for the year to date at £193.5m is 8.2% ahead of a strong 2011 comparative period. This continues to vindicate our strategy of concentrating on high value, niche markets with innovative technologies, supplying to customers both large and small around the world.

* Excluding acquisitions, disposals and currency

Financial Position

Net debt reduced by £5.8m to £202.2m in the quarter despite a £10.2m payment to the pension fund as part of the funding plan announced with the interim results.

There were no significant events or transactions during the period which resulted in a material impact on the financial position of the Group.

Disposal

We are announcing today the sale of our Italian business based in Cremona to a private company located in Italy for a consideration equivalent to the working capital value. Completion is subject to a number of minor conditions but is expected to take place before the year end. The business was acquired with Uniqema in 2006 and is focused on the manufacture of basic products for the Performance Technologies and Industrial Chemicals sectors. In the first nine months of the year it had a turnover of £25.4m (2011: £32.2m) and made an operating loss of £0.1m (2011: operating profit £4.1m). In the third quarter it had sales of £7.8m (2011: £10.4m) and broke even (2011: £0.6m profit).

Commenting on the outlook, Martin Flower, Chairman of Croda said:

“Quarter four has started well. However, with the market remaining weak, particularly in Europe, and currency headwinds, we expect a similar performance in quarter four to that seen in the third quarter. Looking further forward, the Board remains confident that Croda has the right strategy for continued growth.”

For further information please contact:

Steve Foots

Group Chief Executive

01405 860 551

Sean Christie

Group Finance Director

01405 860 551

Charlie Armitstead

Pendomer Communications

020 3603 5224

The company will host a conference call for analysts at 8.00am today.

Please dial +44 (0) 20 3140 0722 and quote “Croda International” to gain access to the call.

Additional Information

£m Q3 9 months
2012 2011 2012 2011
Consumer Care 140.9 144.8 -2.7% 450.1 437.0 +3.0%
Performance Technologies 94.7 92.4 +2.5% 298.9 291.9 +2.4%
Industrial Chemicals 20.9 18.0 +16.1% 62.8 64.1 -2.0%
Continuing turnover 256.5 255.2 +0.5% 811.8 793.0 +2.4%
Consumer Care 44.2 41.8 +5.7% 140.9 128.6 +9.6%
Performance Technologies 13.4 13.7 -2.2% 46.3 42.5 +8.9%
Industrial Chemicals 2.1 1.5 +40.0% 6.3 7.7 -18.2%
Continuing operating profit 59.7 57.0 +4.7% 193.5 178.8 +8.2%
Operating margin 23.3% 22.3% 23.8% 22.6%
Interest (0.4) (0.2) (1.5) (0.7)
Continuing pre tax profit 59.3 56.8 +4.4% 192.0 178.1 +7.8%
Analysis of Q3 turnover uplift
Price/mix -5.7% +0.7%
Volume +8.9% +3.5%
Underlying +3.2% +4.2%
Acquisition +0.1% -
Currency -2.8% -1.8%
Increase in continuing turnover +0.5% +2.4%

Supplementary analysis for continuing operations 30 September 2012

Unaudited £m

2012

2012

2012

Q1

Q2

Q3

Turnover
Consumer Care 159.1 150.1 140.9
Performance Technologies 102.7 101.5 94.7
Industrial Chemicals 20.1 21.8 20.9
281.9 273.4 256.5
Profits
Consumer Care 48.2 48.5 44.2
Performance Technologies 15.8 17.1 13.4
Industrial Chemicals 1.5 2.7 2.1
65.5 68.3 59.7
Interest (0.7) (0.4) (0.4)
64.8 67.9 59.3
2011 2011 2011 2011 2011
Q1 Q2 Q3 Q4 Year
Turnover
Consumer Care 145.7 146.5 144.8 135.1 572.1
Performance Technologies 99.2 100.3 92.4 84.5 376.4
Industrial Chemicals 22.6 23.5 18.0 23.6 87.7
267.5 270.3 255.2 243.2 1,036.2

Profits

Consumer Care 41.8 45.0 41.8 42.6 171.2
Performance Technologies 14.6 14.2 13.7 12.8 55.3
Industrial Chemicals 2.7 3.5 1.5 3.5 11.2
59.1 62.7 57.0 58.9 237.7
Interest (0.2) (0.3) (0.2) 0.5 (0.2)
58.9 62.4 56.8 59.4 237.5

Half Year Announcement 2012

24 Jul 2012
The Interim results announcement on the 24th July 2012 is now available in PDF format.
Interim Report 24-07-2012 Download
(pdf,320.5 KB)

AGM Trading Statement 2012

26 Apr 2012
Croda announces its AGM trading statement for 2012.

AGM Trading Statement - 26 April 2012

Strong start to 2012

Martin Flower, Chairman of Croda International Plc, is due to provide the following update on first quarter trading for the period ended 31 March 2012 at today’s Annual General Meeting:

"I am pleased to report that we achieved record Group results in the first three months of 2012, driven by our highest ever quarterly sales and profits in both Consumer Care and Performance Technologies.

Group sales from continuing operations increased 4.7% to £291.0m (2011: £277.9m). We achieved sales growth in all the major geographical areas in which we operate and volumes were much improved versus the run rates seen during the second half of 2011. Group operating profit from continuing operations was up 8.0% to £65.8m (2011: £60.9m).

Group pre-tax profit from continuing operations increased 7.2% to £65.1m (2011: £60.7m).

All business areas within Consumer Care saw very good growth, resulting in a sales uplift of 9.2% to £159.7m (2011: £146.3m) and a 13.7% increase in operating profit to £48.2m (2011: £42.4m). Return on sales was 30.2%.

Performance Technologies sales increased by 2.9% to £106.9m (2011: £103.9m), in line with expectations, and operating profit increased by 1.2% to £16.3m (2011: £16.1m). Return on sales was 15.2%. This was an encouraging result against very strong comparatives in the first quarter of 2011 when we experienced profit growth of 56.3%.

In Industrial Chemicals, which represents less than 2% of Group operating profit, sales fell by 11.9% to £24.4m (2011: £27.7m) due to slow demand in Europe. This led to a 45.8% fall in operating profit to £1.3m (2011: £2.4m).

Raw material costs have started to rise and we began to introduce price increases across a number of product areas from April.

Strong cash generation and a final receipt of £15.9m from the 2008 sale of our Chicago business reduced net debt by £45.2m to £185.9m (year end 2011: £231.1m).

The Board believes that these results represent a strong start to the year and we remain confident that 2012 will be another year of progress for Croda."

Unaudited income statement before tax and exceptional items

31 March 2012

£m      
  3 months to



31 March



2012
3 months to



31 March



2012
Change
       
Consumer Care 159.7 146.3 +9.2%
Performance Technologies 106.9 103.9 +2.9%
Industrial Chemicals 24.4 27.7 -11.9%
 
Revenues from continuing operations 291.0 277.9 +4.7%
       
Consumer Care 48.2 42.4 +13.7%
Performance Technologies 16.3 16.1 +1.2%
Industrial Chemicals 1.3 2.4 -45.8%
 
Operating profit from continuing operations 65.8 60.9 +8.0%
       
Net bank and loan interest payable (1.9) (2.0)  
Net retirement benefit scheme financing 1.2



1.8







Profit before tax from continuing operations 65.1 60.7 +7.2%
       
       
Operating margin 22.6% 21.9%  
       
Analysis of turnover uplift for continuing operations      
       
Volume     -1.5%
Currency impact     -0.2%
Price/mix     +6.4%
     
      +4.7%
     

Full Year Announcement 2011

31 Dec 2011
The Preliminary Results Announcement on the 21st February 2012 is now available in PDF format.
Croda 2011 Preliminary Statement Download
(pdf,330.3 KB)

Third Quarter Announcement 2011

27 Oct 2011
Croda announces its results for the nine months to 30 September 2011.

Commenting on trading for the quarter ended 30 September 2011, Martin Flower, Chairman of Croda International Plc, said:

"I am pleased to report good turnover and profit progress in the third quarter, driven by sales growth and margin improvement in our core businesses.

For the three months ended 30 September 2011, Group sales from continuing operations increased 5.1% to £265.6m (2010: £252.6m). In most business areas we saw an improving trend during the quarter.

Operating profit from continuing operations increased 18.3% to £57.6m (2009: £48.7m). Interest costs fell, resulting in continuing pre-tax profit increasing 20.8% to £57.4m (2010: £47.5m). Year-to-date, the pre-tax profit from continuing operations is up 27.1% at £182.2m (2010: £143.4m).

Consumer Care continued to trade strongly in the third quarter, reporting a significant increase in sales (+13.6%) and operating profit (+30.8%) and improved margins versus the corresponding quarter in 2010. Sales and operating profits in all business areas within Consumer Care were well ahead of 2010.

Industrial Specialities turnover declined 3.5% against the tough comparatives of a particularly strong third quarter in 2010. The shortfall was in July, with sales in the rest of the period ahead of 2010. Operating profit was down 6.8% with a decrease in commodity and by-product profitability being partially mitigated by stronger performances elsewhere in the sector.

Net debt reduced by £15.5m to £237.8m in the quarter (2010: £240.7m) despite completing the £50m buyback programme in the period.

Croda continues to trade well and we expect to report further progress in the final quarter and into 2012."

£m Q3 9 months
2011 2010 2011 2010
Consumer Care 145.6 128.2 +13.6% 439.2 392.6 +11.9%
Industrial Specialities 120.0 124.4 -3.5% 386.0 371.9 +3.8%
Continuing turnover 265.6 252.6 +5.1% 825.2 764.5 +7.9%
Consumer Care 42.5 32.5 +30.8% 130.5 103.6 +26.0%
Industrial Specialities 15.1 16.2 -6.8% 52.4 45.6 +14.9%
Continuing operating profit 57.6 48.7 +18.3% 182.9 149.2 +22.6%
Operating margin 21.6% 19.3% 22.2% 19.5%
Interest (0.2) (1.2) (0.7) (5.8)
Continuing pre tax profit 57.4 47.5 +20.8% 182.2 143.4 +27.1%
Analysis of Q3 turnover uplift
Price/mix +18.4%
Volume -14.8%
Currency translation +1.5%
Continuing turnover increase +5.1%

Half Year Announcement 2011

30 Jun 2011
The Interim results announcement on the 28th July 2011 is now available in PDF format.
Interim Report 28 07 11 Download
(pdf,112.8 KB)

AGM Trading Statement 2011

28 Apr 2011
Croda announces its AGM trading statement for 2011.

Martin Flower, Chairman of Croda International Plc, is due to provide the following update on first quarter trading for the period ended 31 March 2011 at today's Annual General Meeting:

"I am pleased to report a strong start to 2011 with record sales and profits in both Consumer Care and Industrial Specialities with robust demand continuing across all major geographies. Group sales increased 13.2% to £277.9m (2010: £245.5m) despite adverse currency translation of 2.4%. Overall volumes were slightly down as we continue to reposition our Industrial Specialities operations away from lower price/higher volume products towards more speciality business. Average prices rose during the quarter as we passed on significant raw material cost increases into the market. We have implemented further price increases where necessary in April.

Group pre-tax profit from continuing operations increased 40.2% to £60.7m (2010: £43.3m).

On a segmental basis, Consumer Care operating profit was up 22.2% to £42.4m (2010: £34.7m) with Personal Care, Health Care and Crop Care all seeing significant sales and profit growth.

Industrial Specialities again achieved extremely robust profit growth of 63.7% to £18.5m (2010: £11.3m) despite the volume decline described above and adverse currency movements. Net debt reduced by £5.3m since the year-end to £215.1m despite an unfavourable currency movement of £1.5m.

We are pleased with the performance to date and are confident of reporting further progress throughout 2011."

Unaudited income statement before tax and exceptional items

31 March 2011

£m      
  3 months to

31 March

2011
3 months to

31 March

2010
Change
       
Consumer Care 146.3 128.1 +14.2%
Industrial Specialities 131.6 117.4 +12.1%
   
Revenues from continuing operations 277.9 245.5 +13.2%
   
Consumer Care 42.4 34.7 +22.2%
Industrial Specialities 18.5 11.3 +63.7%
   
Operating profit from continuing operations 60.9 46.0 +32.4%
   
       
Net bank and loan interest payable (2.0) (2.8)  
Net retirement benefit scheme financing

1.8

0.1  
       
   
Profit before tax from continuing operations 60.7 43.3 +40.2%
   
       
Operating margin 21.9% 18.7%  
       
       
Analysis of turnover uplift for continuing operations
       
Volume     -0.5%
Currency impact     -2.4%
Price/mix     +16.1%
     
      +13.2%
     

Full Year Announcement 2010

31 Dec 2010
The Preliminary Results Announcement on the 22nd February 2011 is now available in PDF format.
Croda 2010 Preliminary Statement Download
(pdf,132.7 KB)

Third Quarter Announcement 2010

28 Oct 2010
Croda announces its results for the nine months to 30 September 2010.

Commenting on trading for the quarter ended 30 September 2010, Martin Flower, Chairman of Croda International Plc, said:

“I am pleased to report continued strong progress in the third quarter, driven by significant sales growth building on a robust 2009 performance.

For the three months ended 30 September 2010, Group sales from continuing operations increased 18.6% to £255.3m (2009: £215.2m). Sales volumes increased by 12.1% compared to 2009. More importantly the two year volume trend versus 2008 (which takes out most of the effect of the recession) is showing increasing momentum:

2010 v 2009 2009 v 2008 2 year growth
Q1: +30% -28% -6%
Q2: +26% -24% -4%
Q3: +12% -6% +5%

Quarter three is normally a quieter trading period than either of the first two quarters. Operating profit from continuing operations increased 47.1% to £48.7m (2009: £33.1m). Interest costs fell, due to lower borrowings, resulting in continuing pre-tax profit increasing 56.8% to £47.5m (2009: £30.3m).

Year-to-date, the pre-tax profit from continuing operations is up 87.6% at £143.7m (2009: £76.6m).

In quarter three Consumer Care has continued to trade robustly with big increases in sales (+15.4%) and operating profit (+32.5%) and improved margins versus the corresponding quarter in 2009. All business areas were ahead of 2009 with Crop Care delivering a particularly strong performance.

In Industrial Specialities the third quarter trading improvement versus 2009 is more marked with sales and profits up 22.1% and 89.4% respectively. Again, all business areas were ahead of 2009 in both sales and profits.

The quarter also saw a significant reduction in net debt with a cash inflow of £32.2m before adverse currency translation of £3.2m, bringing the year-to-date figure to £47.4m with favourable currency translation taking the total net debt reduction to £47.8m for the nine months. At the end of September, net debt stood at £240.7m.

Croda continues to trade strongly and we expect to report further year on year progress in the final quarter of 2010 and into 2011.

£m Q3 9 months
2010 2009 2010 2009
Consumer Care 128.2 111.1 392.5 343.5
Industrial Specialities 127.1 104.1 379.9 280.1
Continuing turnover 255.3 215.2 +18.6% 772.4 623.6 +23.9%
Consumer Care 32.6 24.6 103.8 77.4
Industrial Specialities 16.1 8.5 45.7 9.4
Continuing operating profit 48.7 33.1 +47.1% 149.5 86.8 +72.2%
Operating margin 19.1% 15.4% 19.4% 13.9%
Interest (1.2) (2.8) (5.8) (10.2)
Continuing pre tax profit 47.5 30.3 +56.8% 143.7 76.6 +87.6%
Analysis of Q3 turnover uplift
Price/mix +4.4%
Volume +12.1%
Currency translation +2.1%
Continuing turnover increase +18.6%

Industrial Specialities turnover for 2009 and 2010 restated to include final adjustments relating to the discontinued Emmerich business.

Half Year Announcement 2010

20 Jun 2010
The Interim results announcement on the 27th July 2010 is now available in PDF format.
Croda Interim Results 28-07-10 Download
(pdf,102.4 KB)

AGM Trading Statement 2010

28 Apr 2010
Croda announces its AGM trading statement for 2010.

Martin Flower, Chairman of Croda International Plc, is due to provide the following update on first quarter trading at today’s Annual General Meeting:

“At the time of our preliminary results in February we reported that the strong trading performance seen in the second half of 2009 had continued into 2010. We are now able to report record quarterly sales and profits in both Consumer Care and Industrial Specialities.

Group sales increased 14.7% to £264.7m (2009: £230.8m) despite adverse currency translation of 4.1%, with overall volumes increasing 26.0%.

Group pre-tax profit from continuing operations almost doubled to £42.4m (2009: £21.7m).

On a segmental basis, Consumer Care operating profit was up 20.6% to £34.6m (2009: £28.7m) despite challenging 2009 comparatives. Underlying sales increased strongly in both Personal Care and Health Care but Crop Care sales were down in line with the market. Overall sales increased to £130.0m, up 1.4% on last year’s figure of £128.2m, despite the adverse currency translation.

Industrial Specialities reversed last year’s £2.4m loss to record an operating profit of £10.5m with almost all areas seeing significant revenue and profit increases. Volumes increased dramatically and this is driving the 31% increase in revenues to £134.7m (2009: £102.6m).

As a consequence of the cash restructuring costs from the closures of both Bromborough and Wilton and adverse currency translation of £5.8m, net debt was little changed from the year end at £292.7m.

This is a very strong performance across the business and reflects both robust demand for our products globally and the benefits of the cost cutting activity we have undertaken since the acquisition of Uniqema. However, the buoyant trading conditions we have experienced have been seen across the chemical sector, suggesting an element of restocking. Furthermore, prior year comparatives do get tougher in the second half. We also expect to see raw material inflation begin to increase in many areas.

Notwithstanding the above, the robust trading has continued into quarter two and we remain confident of achieving significant progress throughout the remainder of 2010.”

Unaudited income statement before tax and exceptional items

31 March 2010

£m      
  3 months to



31 March



2010
3 months to



31 March



2009
Change
       
Consumer Care 130.0 128.2 +1.4%
Industrial Specialities 134.7 102.6 +31.3%
   
Revenues from continuing operations 264.7 230.8 +14.7%
   
Consumer Care 34.6 28.7 +20.6%
Industrial Specialities 10.5 (2.4) n/a
   
Operating profit from continuing operations 45.1 26.3 +71.5%
   
       
Net bank and loan interest payable (2.8) (4.5)  
Net retirement benefit scheme financing

0.1

(0.1)  
       
   
Profit before tax from continuing operations 42.4 21.7 +95.4%
   
       
Continuing operations operating margin 17.0% 11.4%  
       
       
Analysis of turnover uplift for continuing operations
Continuing operations sales volumes     +26.0%
Currency impact     -4.1%
Price/mix     -7.2%
     
      +14.7%
     

AGM trading statement 2016

1 Jan 0001
Q1 2016 Trading Statement Download
(pdf,84.5 KB)

AGM trading statement 2017

1 Jan 0001
First Quarter Trading Update 2017 Download
(pdf,3.6 KB)

Latest News From Croda

Crop Screen Testing
Acquisition of Plant Impact
Sustainability

Acquisition of Plant Impact

Read more

plastic water bottles
Incroslip SL Granted European Food Contact Approval
Innovation

Incroslip SL Granted European Food Contact Approval

Read more

Incotec, Corn Coatings
Incotec shows new products for field crops at China Seed Fair
Events

Incotec shows new products for field crops at China Seed Fair

Read more

Share Price 4610.00p +23.00p (delayed) at 16:42 (BST) 23 Apr 2018 More Information

What We Do

  • Adhesives
  • Agrochemicals
  • Automotive & Transport
  • Buildings & Construction
  • Beauty & Personal Care
  • Dietary Supplements
  • Electronics & Devices
  • Energy, Resources & Renewables
  • Food & Feed
  • Furniture & Wood
  • Household, Industrial & Institutional Cleaning
  • Lubricants
  • Oleochemicals
  • Packaging, Print & Paper
  • Paints & Coatings
  • Pharmaceuticals
  • Phase Change Materials & Thermal Management
  • Polymers & Additives
  • Skin Health
  • Textiles, Nonwovens & Tissues
  • Water Treatment
What makes Croda? Watch our video here

Our Reports

2017 Annual Report Download
(pdf,5.7 MB)
2017 Sustainability Report Download
(pdf,5.4 MB)

Croda International Plc

Cowick Hall Snaith Goole East Yorkshire DN14 9AA United Kingdom
+44 (0) 1405 860551
  • Contact Us
  • Worldwide Locations
Croda Logo
© 2018 Croda International Plc | Terms and Conditions | Privacy and cookies | Accessibility statement

About cookies on this site
By continuing to use this website, you agree to the use of cookies. You can find out more details in our Privacy policy.