Driven by significant organic growth in Asia and the Americas, Hempel’s revenue grew by 8 per cent in 2010, paving the way for it to expand operations in Russia, Argentina, Saudi Arabia and India – and make new acquisitions.
Despite a slow global economy, 2010 was a good year for Hempel. The Group’s top-line performance gained momentum, particularly in the last quarter, with every business segment achieving a positive result. Overall, the Group delivered an operating profit of EUR 92 million for the year, which was level with 2009 despite dramatic increases in raw materials prices. Hempel’s 2010 result at a glance:
- Group revenues rose by 8 per cent from EUR 826 to EUR 889 million
- Operating profit of EUR 92 million was on a par with the 2009 result
- Net profit rose by 19 per cent to EUR 53 million – a record high for the Hempel Group