Cognis Reports Profit Rise

30 November 2010

Cognis has reported a profit of €184m ($245m) during the first nine months of 2010, up from €1m during the same period in 2009, boosted by an increase in sales volumes.

The German chemical company's sales increased 18.2% during the January-September period to €2.31bn ($3bn), up from €1.96bn ($2.59bn) in the first nine months of 2009.

Cognis' adjusted EBITDA increased by 56.9% to €423m ($560m) compared to the same period in 2009.

In June, German chemical major BASF announced that it had concluded an agreement to acquire Cognis for €3.1bn ($4.1bn).