This news article was originally written in Spanish. It has been automatically translated for your convenience. Reasonable efforts have been made to provide an accurate translation, however, no automated translation is perfect nor is it intended to replace a human translator. The original article in Spanish can be viewed at Ercros obtiene un resultado de 18,5 millones de euros

Ercros obtains a result of EUR 18.5 million

21/11/2005

on November 21, 2005

The turnover accumulated of Ercros in the nueve first months of the year has risen to 431,16 million euros, a 12,7 percent upper to the reached in equal period of the previous year. This improvement has reflected in the result consolidated, that has been of 18,51 million euros in front of the loss of 15,72 million euros that took place in 2004.

With the exception of the Division of plastics, the increase of the turnover has been general. Basic chemicals has invoiceed 218,15 million euros in front of the 176,32 millions obtained in the nueve first months of 2004, what supposes an increase of the 23,7 percent. plastics, 117,57 million euros with a decrease of the 2,6 percent. Pharmacy, 28,77 million euros with an increase of the 6,4 percent. Animal feeding, 24,30 million euros with an increase of the 31 percent. Treatment of waters, 22,05 million euros with an increase of the 0,5 percent. And Emulsions, 20,32 million euros with an increase of the 11,5 percent.

The gross result of exploitation (Ebitda), measured in accordance with the International Norms of Financial Information (NIIF), has risen to 51,29 million euros, enciphers that more than cuadriplica the 11,56 million euros reached in the three first quarters of 2004. It is convenient to signal however that, because of the new countable rule applied, this figure includes concepts no recurrent that in the previous rule had been contabilizados like extraordinary results. In concrete, 22,80 million corresponding euros to the imputación like profit of the exercise of the negative difference of consolidation of the Aragonese Group and –6,25 million euros of extraordinary net costs (between them the –8,13 million euros devengados by the file of regulation of employment that the company is llevar).

The predictable evolution of the markets during the last quarter of the year is very positive. The high level of the price of the soda is keeping . On the other hand, They are producing increases in the prices of the PVC and of the acetate of ethyl, that compensate the increase of the cost of the etileno and are supposing a significant improvement of margins.