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2007-03-30 News Release

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Plastics division benefits from growing demand

Sales for the High-Performance Plastics division of Quadrant increased from market exposure and growing demand of product innovations and enhancements.

The 2006 financial year of the Quadrant Group, a global leader in high-performance polymer materials, which is active in the field of high-performance plastics, was characterized by the successful integration of the acquisitions of Poly Hi Solidur (PHS) and Japan GMT Co. (JGC) made the previous year. Key financial data improved significantly due to an economic environment that was overall friendlier than expected.

Find Information and Suppliers of high performance plastics.

Net sales grew by 36% to CHF 804.3 million (2005: CHF 591.7 million), of which 5% is based on internal growth even after two years of above-average growth. Earnings before interest, taxes, depreciation and amortization of goodwill (Ebitda) rose to CHF 94.7 million (CHF 71.8 million) and resulted in a consolidated net profit of CHF 36.1 million. Net profit for the previous year amounted to CHF 33.4 million, of which CHF 4.0 million was due to negative goodwill written off via the income statement. Based on the positive growth of cash flow from operating activities to CHF 72.1 million (CHF 48.1 million), net debt again decreased significantly by CHF 42.5 million to CHF 175.0 million (CHF 217.5 million). With an equity ratio of 36%, the Quadrant Group is well prepared for its further development.

In a friendly economic environment Quadrant’s largest division, High-Performance Plastics (QEPP/QCMS), was able to benefit from growing demand. Sales in all regions of the world grew as a result of the division’s enlarged product portfolio and increased market exposure connected with renewed product enhancements and product innovation. In the Plastic Composites / Cable Protection Systems (QPC/QCPS) division, Quadrant Plastic Composites (QPC) was again confronted with the subdued development in the automobile supplier industry. The difficult market environment resulted in pressure on prices and a slow-down in the model renewal rate, thus preventing internal growth. By comparison, business with Cable Protection Systems, which focuses on the Swiss market, benefited from a lively economy and outstanding climatic conditions, thus developing significantly faster than expected.

Continued positive outlook
Without the presence of large negative political or raw material-related influences developments for 2007 are expected to remain positive, being aware that an economic downturn in individual regions of the world is possible. In its High Performance Plastics division (about 80% of consolidated sales), Quadrant expects the positive development seen last year to continue owing to its expanded product portfolio, the renewed strengthening of its global market position based on the successful integration of Poly Hi Solidur and the resulting cost synergies. In Quadrant’s QPC/QCPS division, the new production plant in Guelph (Canada) started production on schedule at the beginning of 2007. Owing to the acquisition of Japan GMT Co. in 2005, the division is now positioned to produce and market its products on a global scale. Together with strengthening and repositioning its marketing activities, this will allow a gradual return to corporate growth.

Quadrant Plastic Composites manufactures thermoplastic composites consisting of thermoplastics (mainly polypropylene) in combination with reinforcement in the form of glass mats, glass fiber and polyester fabrics, or natural fibers such as kenaf, sisal, flax and hemp.

Quadrant Engineering Plastic Products is the world's leading manufacturer of semi-finished products made from general engineering and high performance plastics.

Find information about Quadrant.

Read recent press releases about - Leading plastics providers Borealis and Borouge to exhibit state-of-the-art polyolefin compounds solutions to visitors of Wire Russia 2007.

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