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Tessenderlo Swings to a Profit

4:35 AM MDT | May 5, 2011 | Ian Young

Tessenderlo Group (Brussels) posted net profits of €30 million for the first quarter of 2011 compared with a €5-million loss in the same period of 2010. Sales increased 18%, to €671 million. Operating profits (Rebit) increased more than nine-fold, to €39 million and recurring Ebitda (Rebitda) more than doubled, to €66 million. "Group revenue, Rebit, and Rebitda all grew solidly in the first quarter of 2011 compared with the low first quarter of 2010," Tessenderlo says. "Each operating segment made a positive contribution...

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