 | Rotterdam, The Netherlands – April 26, 2007 - Univar N.V. (Euronext Amsterdam: UNIVR), a world leader in chemical distribution, today announced results for its fiscal first quarter ended March 31, 2007.
Highlights Q1 2007
- Univar reported consolidated first-quarter net sales of USD 1,726.9 million compared with USD 1,583.0 million in 2006, an increase of 9.1%. All three of the company’s major business units – Univar USA, Univar Canada and Univar Europe – contributed to the improvement at relatively similar rates of underlying revenue growth. On a currency-neutral basis, consolidated net sales increased 6.1%.
- Consolidated first-quarter 2007 EBIT was USD 56.2 million, an increase of 2.6% over USD 54.8 million in first-quarter 2006. This modest improvement in EBIT resulted from solid sales growth offset largely by a decline in gross margin percentage in Europe and Canada. Operating expense control – below volume growth rate – at all three major business units supported EBIT performance.
- Consolidated net income declined 1.6% to USD 30.3 million from USD 30.8 million due to a USD 2.3 million increase in interest expense.
- The company reported earnings per share of USD 1.07 compared with USD 1.06 a year ago, an increase of 0.9%.
- Overall operating performance improved steadily during the quarter.
To view the entire press release and financial tables, click on the link below. |