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Rhodia (Paris) released its fourth quarter and full year 2010 financial results, which saw the company able to take advantage of a redesigned management model set to drive growth. Additionally, Rhodia acquired Chinese company Feixiang Chemicals and reinforced its position in key markets.
The full year 2010 saw profitability, with recurring EBITDA at €905 million and volumes up by 14% compared to 2009. It also saw a record net profit of €259 million and a dividend at €0.5 per share (+100 percent vs. 2009).
Commenting on these results, chairman and CEO Jean-Pierre Clamadieu said, “In 2010, Rhodia achieved a breakthrough step-up in profitability. We defined growth as the strategic priority and implemented a new decentralized management model as its driving force. The group has already attained significant milestones with the acquisition of Feixiang Chemicals together with substantial investments in fast-growing regions.
“Heading into 2011, global economic conditions and business momentum remain favorable. Rhodia will benefit from its high quality portfolio and strengthened positions in the most dynamic markets. In this context, we expect to improve our 2011 EBITDA by 5–10%, well in line with our 2013–2015 ambition," he concluded.