Personal care helps to boost Atrium results

By Simon Pitman

- Last updated on GMT

Related tags: Percent, Active ingredients, Revenue

A strong performance in the Canadian company's active ingredients
and specialty chemicals division helps to boost results for the
third quarter.

Atrium Innovations said that net sales grew 2.9 percent during the quarter to reach US$74.3m, compared to the corresponding quarter in 2006, whereas net profit proved even better, increasing 4.9 percent to reach $6.6m. For the six month period sales were up by 13.8 percent to $150.3m, while net earnings increased 15.4 percent to $15.2m, reflecting a stronger performance in the first quarter of the year for the business as a whole. Breaking the figures down, strong results for the company's active and specialty division, which serves the personal care industry, buoyed by weaker quarterly results for the company's health and nutrition division. Third quarter sales for the health and nutrition division were down 5.1 percent, from $29.7m, to $28.2m, but despite the revenue fall EBITDA was up for the division, from $7.7m to $8.4m. Although sales grew in the active and specialties division, the division continues to be less profitable than health and nutrition. Sales for the quarter were up 8.2 percent, from $44.6m to $48.6m, whereas EBITDA was up 7.6 percent, from $4.0m to $4.3m. On a six-monthly basis, sales for active and chemicals looked even better, up 15.4 per cent to $107.0 and EBITDA rose 13.8 per cent to $9.2m. Last month the company acquired Germany-based Mucos Emulsions, its biggest ever investment at €127.5m ($174.5m), a company that is highly active in the European nutritional supplements category, and a purchase that is expected to be highly accretive to the company's revenues for forthcoming results. In May of this year the company changed its name from Atrium Biotechnologies to Atrium Innovations, a move that is said to reflect the company's evolution from being the subsidiary of a biotechnology company into a multi-product manufacturer and marketer. The company currently produces over 2,000 active ingredients and fine chemicals, and specializes in targeted active ingredients for the personal care market. It markets active ingredients for sun care, anti-aging, hair care, moisturizing and whitening, together with other targeted skin care actives aimed at firming, enhancing and lifting.

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