Chemicals and plastics distributor Biesterfeld (Hamburg / Germany; www.biesterfeld.com) blamed a contraction in demand for a drop in sales and earnings in 2009. Sales declined to EUR 655m in 2009, compared with EUR 854m a year earlier, while earnings before interest and tax (EBIT) dropped to EUR 20m, from EUR 36.4m.

The global crisis resulted in a sharp drop in demand, starting in the fourth quarter of 2008 and continuing into the first and second quarters of 2009, stated Biesterfeld. “Demand increased again during the latter half of the year but did not reach prior year’s levels,” it added.

A slow but steady recovery of the business was recorded through the end of 2009 and gained momentum during the first quarter of 2010, Biesterfeld continued. This year, the company said it is counting on a solid recovery of the economy.

For the polymers distribution unit, demand from customers in the automotive sector was significantly lower. Customers in the consumer goods, electrical appliances and packaging sectors also registered weaker demand, Biesterfeld said. However, sales began to improve in the third quarter, it added.