2020 Annual Report
Smart science to improve lives™
During 2020 the strength and quality of our business model has been further demonstrated.
Despite all the difficulties that 2020 brought, we made significant progress in the year towards our goals and have build encouraging momentum.
"This year, more than ever, we felt the value of working closely with partners and supporting every one of the stakeholders in our ecosystem. Our continued success and positive impact on the world is driven by the strength of these relationships with others."
Chair's statementAnita Frew Download the Chair's statement
2020 will be remembered as the year of the global COVID-19 pandemic. In everything we have done we have endeavoured to treat all our stakeholders fairly. Compassion and the agility to respond have been essential.
CEO's statementSteve Foots Download the CEO's statement
During a year in which we have faced unprecedented challenges, the response and commitment of all our employees to maintain business continuity and serve our customers has been outstanding. The strength and quality of Croda’s business model has been further demonstrated.
CFO's statementJez Maiden Download the CFO's statement
The resilience and cash-generative nature of our business model was demonstrated in 2020, despite the impact of the COVID-19 pandemic on market demand.
Second half year sales recovery but profit mix impacted by consumer lockdowns
Our smart science is helping our customers, large and small to create formulations with improved environmental profiles for thousands of personal and home care products while delivering clear benefits to consumers.
Learn moreIberchem acquisition: stepping into the fragrance and flavours market
In November 2020, we announced our acquisition of Iberchem, an international fragrances and flavours business headquartered in Spain. The deal represents the largest acquisition in our long history and a well-timed step into this strongly aligned market.
“The Croda sustainability Commitment to become Climate, Land and People Positive by 2030 was a key consideration in this acquisition. Both Croda and Iberchem share a drive to advance the sustainability of practices in this sector as well as improving People practices more widely.” Guillaume Audy, newly appointed Director of Sustainability at Iberchem.
Record performance driven by move to patient health care
We reach customers worldwide with our ingredients to deliver health care solutions, protect crops and enhance seeds. From our vaccine technologies to microplastic-free seed coatings, we are using our smart science to improve lives everywhere.
Learn moreWe are helping customers reduce the level of microplastics in the environment and get ahead of impending regulations.
“This has been such a rewarding project for our whole team. The initial challenge was daunting as developing microplastic-free treatments is easier said than done. We are proud to say that we have already succeeded in developing the first new microplastic-free seed coatings for key crops including sunflower, corn and vegetables seed.” Marta Dobrowolska-Haywood, Head of Research and Technology, Incotec.
Resilient sales in challenging markets
Our innovative, low-carbon, sustainable and technology-rich additives and materials enable the transition of industrial markets to new sustainability-driven solutions.
Learn moreResponding to growing customer demand with bio-based polymer additives
Polymers feature in every aspect of our lives, from food packaging to medical devices and household appliances to Personal Protection Equipment (PPE). This is an industry which is evolving quickly to respond to the emerging sustainability demands of consumers.
“The pace of change at Croda this year has been so exciting. 2020 was tough on everyone but I have been astounded and really proud of how we have responded at Croda.” Sales Manager for Croda China, Performance Technologies, Ducky Tan.
Sector smart science in action
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