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Tessenderlo: Significant net loss in 2009

Tessenderlo (Brussels / Belgium; www.tessenderlo.com) reported a significant net loss for 2009, with a severe decline in revenues and margins in the PVC/chlor-alkali business. The global recession resulted in a group net loss of EUR 166.7m compared with a EUR 140.4m profit for 2008, while revenues sank 24% to EUR 2.09 bn. Operating profits before non-recurring items (REBIT) fell to a negative EUR 51.4m from a EUR 239.1m profit last time.

"The global economy has experienced the most severe downturn in recent history, starting in Q4 2008 and continuing throughout 2009,” Tessenderlo stated. "Major sectors such as construction and automotive were sharply lower.”

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