Belgian chemical group Tessenderlo (Brussels; www.tessenderlo.com) saw more positive annual results last year after posting losses in 2009. Total group sales rose by roughly 16% to EUR 2.4 bn, while recurring earnings before interests and taxes (REBIT) rose from a negative EUR 51m in 2009 to a plus of EUR 59m.

The company’s PVC/Chloralkali segment was instrumental to these improved results. All in all, the division managed to grow revenues by 12% year-on-year to EUR 496m. The performance in H1 2010 especially compared favourably to the extremely weak revenues generated in H2 2009. Improvements in H2 last year were mostly related to rising PVC sales as opposed to higher prices, Tessenderlo reported. The division’s REBIT improved from a negative EUR 1.5m in 2009 to more than EUR 21m in the black in 2010. The Belgian company mostly attributes this rise to improvements in its chloralkali business, especially since in Q4 2010, gross revenues of the group’s PVC division were below the figures of the comparative quarter in 2009.

Sales of processing activities rose 3% year-on-year to EUR 562m, and REBIT even dropped by 11% to EUR 45m. The vinyl specialist said the decline had been caused by significantly higher raw material costs that have pressured margins for profile and pipe manufacture. Overall, pipe business was rather weak in 2010, especially in the Benelux region, and saw even lower orders during last year’s very wintry Q4. By contrast, profile sales rose, driven mainly by the UK and US markets.

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