EBITA rises 71% at CSM B.S.N.A.
October 29, 2009
by Eric Schroeder
DIEMEN, THE NETHERLANDS — EBITA of the Bakery Supplies North America division of CSM n.v. in the third quarter of fiscal 2009 was $38.3 million, up 71% from $22.4 million in the third quarter last year. Sales were $411.8 million, down 5%. Reported in euros, CSM said EBITA rose 81% and sales were down a shade less than 1%. Bakery Supplies Europe EBITA was €12.2 million ($17.9 million) in the period, up 45% from €8.4 million in the third quarter last year. Sales were €255.7 million ($375.7 million), down 5%. Commenting on third-quarter results in North America, CSM said, "The effect of the slightly lower volumes was more than compensated by a recovery of our margins, cost savings as well as the continued improved performance of our company H.C. Brill." Overall, CSM EBITA was €47.6 million ($69.9 million) in the third quarter, up 95% from €24.4 million in the third quarter last year. Sales were €634.5 million ($932.9 million), down narrowly from €639.5 million in the same period last year.