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€20 billion in revenue
(Delivering)
- Made progress with achieving our €20 billion target in all three Business Areas
- Introduced country organizations in high growth markets/regions (Brazil, India, China, Middle East) to support the achievement of specific, largely organic, growth targets
- Signed a major new deal for bleaching chemicals in Brazil
- Acquired:
- Schramm Holding AG and the related SSCP business in Korea
- Boxing Oleochemicals in China
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Growth in absolute EBITDA, in a 13–15 percent margin range (Improvement actions in progress)
- A combination of volume issues and a difficult raw material cost environment has created significant contribution margin and EBITDA margin pressure
- Continuing to take aggressive pricing actions as a result of raw material cost pressures; expecting full impact in 2012
- Started a performance improvement program to deliver €500 million EBITDA by 2014
- Implemented country organizations in key markets/regions to support delivery of back office synergy (e.g. HR shared service organization North America)
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