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Rhodia Reports Q1 2011 Financials
Posted: May 6, 2011
Rhodia (Paris) has reported its Q1 financial results for 2011, seeing its growth strategy help improve its profitability to record levels, with EBITDA up 28% to €283 million. Additionally, the company saw volumes increase 9%.
“In Q1, Rhodia continued to improve its performance, reflecting the remarkable execution of its profitable growth strategy. Our pricing power, differentiated geographic positions and recent acquisitions all contributed effectively to the quarter strong momentum. Anticipating sound business conditions to continue, we now expect our full year EBITDA to exceed €1 billion, on track with our mid-term ambition,” commented Jean-Pierre Clamadieu, chairman and CEO of Rhodia. "This excellent performance reinforces our confidence in our project to create with Solvay a major player in the chemical industry, determined to carry out an ambitious growth strategy.”