La Seda: Pretax Loss of EUR 70m in H1 200802 Sep 2009 • by Natalie Aster
Spanish PET giant La Seda de Barcelona (Barcelona / Spain; www.laseda.es) has reported EBITDA of EUR 4m for the first half of 2009 and a pretax loss of EUR 70m. Sales declined 44% year-on-year to EUR 521m. The group blames liquidity problems and supply bottlenecks.
Despite the general misery, La Seda was relatively satisfied with its PET packaging business segment. Sales.at 7 bn units including both preforms and finished packaging were 10% above budget. EBITDA of the segment was EUR 29.6m – here, too, above the EUR 26.7m forecast.
Source: European Plastics News
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