Q2 revenues grew by 14% yoy, to €576m, driven by Europe (+27% yoy, to €372m). In Asia-Pacific & Africa, organic growth was more than offset by currency weakness. The Americas were also affected by South American currencies. The EBIT came in at €102m (+18% yoy), beating consensus (at €92m). In Europe (+20%), growth was supported by the recent acquisitions (Pentosin and Statoil Fuel & Retail Lubricants). However, Asia posted a 7% decline, largely due to currency weak
01 Aug 2016
Q2 revenues and EBIT beat driven by Europe
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Q2 revenues and EBIT beat driven by Europe
Q2 revenues grew by 14% yoy, to €576m, driven by Europe (+27% yoy, to €372m). In Asia-Pacific & Africa, organic growth was more than offset by currency weakness. The Americas were also affected by South American currencies. The EBIT came in at €102m (+18% yoy), beating consensus (at €92m). In Europe (+20%), growth was supported by the recent acquisitions (Pentosin and Statoil Fuel & Retail Lubricants). However, Asia posted a 7% decline, largely due to currency weak