13 March 2008 , Press release
Record result for Dynea in 2007
Dynea, the world-leading supplier of adhesion and surfacing solutions significantly improved its operating performance in all its main markets.
Dynea is one of Finland’s most international enterprises with operations in more than twenty countries.
In 2007, the turnover of Dynea increased to 888.0 million euro (+14%). This growth was facilitated by positive market conditions as well as improved competitiveness. Furthermore higher raw material prices lead to increased sales through the pass into sales prices. Dynea’s EBITDA improved to 68.6 million euro (+26%) and operating profit to 43.8 million euro (+36%).
In July 2007, Dynea sold its North American operations for 254.3 million euro, resulting in a gain of 67.8 million euro. Following the sale, Dynea’s interest bearing net debt reduced to 152.4 million euro (2006: 429.7). Dynea’s equity ratio rose to 33.3% from 16.9% in 2006 and net gearing improved considerably to 67.3% from 286.5% in 2006.
”The improvement in Dynea’s business operations is based on a continually improving competitiveness in our main markets, where we intend to maintain our leading position as a principal supplier of adhesion and surfacing solutions”, states Dynea’s CEO Roger Carlstedt.
Growth in developing markets
“The North American divestment gives the company the opportunity to concentrate on the growing markets of Eastern Europe and Asia. In recent years we have made investments in increasing our production capacity in Russia, China and Eastern Europe. Going forward we can accelerate our growth as well as broaden our presence in these markets”, says Carlstedt.
Responsible product development in partnership with customers
Dynea’s research and product development concentrates on product, application and process technology. In 2007, the costs of research and product development were 11.6 million euro (10.6 million euro).
“We carry out product development in close cooperation with our customers, and with increasing attention to environmental concerns, as evidenced by the 2007 introduction of AsWood(TM), our new line of resins for the woodworking industry. Products glued with AsWood have emission levels that are as low as emissions from solid wood”, informs Carlstedt.
For further information
Roger Carlstedt, CEO
Tel. + 358 10 585 2030, roger.carlstedt@dynea.com
Filip Frankenhaeuser, CFO
Tel. +358 10 585 2011, fillip.frankenhaeuser@dynea.com
Nina Kopola, Executive Vice President, Global Market Applications
Tel. +358 10 585 2018, nina.kopola@dynea.com
Dynea is a world-leading supplier of resin adhesion and surfacing solutions. In 2007 Dynea’s turnover was 888 million euro. The company has 40 production plants and 2 300 employees in 24 countries in Europe, South America and Asia. The company’s head office is in Helsinki.