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Wavin: Building recession continues, but H2 2009 shows some stabilisation

Pipe systems manufacturer Wavin (Zwolle / The Netherlands; www.wavin.com) reported a 6.1% year-on-year fall in operating profit (EBITDA) to EUR 64.9m in the second half of 2009, on sales down 21% at EUR 587m.

The falls are lower than those experienced in the first half of 2009, where EBITDA dropped by 50% and sales by 31% year-on-year, and were considered by the company as a sign of stabilisation in the second half. Full-year operating profit was 31% down on 2008 at EUR 110m, while sales fell by 27% year-on-year to EUR 1.16 bn.

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