Q3 2021: Double-digit growth in revenues and net profit

29.10.21
5 min read
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Safety and Sustainability: continuous encouraging performance

  • Safety is and remains Adisseo’s priority: 2021 TRIR at 0.61, zero accident remains our target, COVID-19 impact well under control

  • Encouraging environment performance achieved in Q3

 

Q3 2021: double-digit growth in revenue (+12%) and net profit contributed to shareholders (+15%) vs Q3 2020:

  • Continued strong volume growth in liquid methionine (+11%)

  • Accelerated growth in specialties (+15%) reaching historic-high level

  • Proactive pricing management as well as continuous cost competitiveness enhancement offsetting rise in raw material costs

 

Key projects

  • European Methionine Debottlenecking project executed on schedule and started running on full capacity

  • One-China Strategy keeping the momentum with +58% growth in specialty business

  • 2nd Nanjing unit (BANC2 project) progressing well

  • Research & Innovation Center in Nanjing continue to progress as planned for an expected operation by the end of 2021

  • Calysseo: Construction of 1st commercial FeedKind® plant on track

 

FY2021 outlook

  • In an environment where volatility and uncertainty are more than ever prevailing, Adisseo is pursuing its sustainable growth strategy. Safety remains the first priority.

  • Facing the challenges from raw material supply and cost increase in addition to on-going supply chain disruptions, Adisseo is engaged in managing the business development and prices in a proactive and agile way.

 

Jean-Marc Dublanc, CEO of Adisseo, said: “In Q3 2021, our positive momentum continued with another quarter of strong results, achieving double-digit topline and bottomline growth. Thanks to our proactive and agile management ensuring safety and business continuity, tactical pricing, handling supply chain disruption and raw material shortage as well as cost optimization, our business is well on track.”

 

I am also pleased to see that our one-China strategy rolls out smoothly and continues to deliver tangible benefits: on-going penetration of liquid methionine in China market and significant growth in specialty businesses. With the coming official go-live of our new Nanjing R&I Center, our China business growth is expected to further accelerate supported by strong innovation capabilities.

 

We are fully engaged on Adisseo digital transformation program. As part of it, one example is Display 4.0,which will enable Adisseo’s industrial activities to gain cost competitiveness, operational efficiency and better anticipation on future process development. It was initiated, developed, tested and proven in Europe and is now being expanded to China.

 

Looking at Q4 2021, we are facing major challenges due to sharp increase in raw material and energy costs. We are endeavored to continue the strong growth momentum while managing carefully the rise in raw material and energy costs to ensure a solid profitability level.”

 

Bluestar Adisseo Company (“Adisseo” or “the Company”) Board of Directors disclosed its Q3 2021 results.

 

  1. Business Review: Revenues & Net Profit Contributed to Shareholders

 

Unit: CNY (100mil)

Q3 2021

Q3 2020

YoY variance

Operating revenue

33.6

30

+12%

  • Performance Products

24.2

21.8

+11%

  • Specialty Products

7.7

6.7

+15%

  • Other Products

1.7

1.5

+19%

Gross profit

(in % of operating revenue)

12.7

38%

11.6

39%

+10%

-1ppt

  • Performance Products

8.2

7.8

+5%

  • Specialty Products

3.9

3.3

+20%

  • Other Products

0.62

0.5

+23%

Net profit contributed to the shareholders of the Company

   
Adisseo
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