Topsoe’s operations of delivering technology, catalysts, and related services to the chemical and refining industries remain very profitable and generated revenue of DKK 5617 million and EBIT of DKK 708 million in 2018.
EBIT margin was 12.6%, and net profit was DKK 491 million. Revenue and EBIT were positively impacted by a one-time effect of DKK 91 million related to a technology project. Cash flow from operating activities amounted to DKK 1.2 billion based on a significant improvement in the working capital balance as well as a strong cash flow from daily business.
Catalyst revenue increased by 13%, reflecting improved revenue from the catalyst business in both the refining and chemical business areas. Technology revenue increased by 9% driven by a number of large technology projects that were successfully completed in 2018.
“2018 was a good year for Topsoe. The results are very satisfactory and reflect a healthy core business with growth potential. We have received a significant amount of new orders during the year, and we have been able to introduce several innovative products that address our customers’ needs,” says Bjerne S. Clausen, CEO.
Read the article online at: https://www.hydrocarbonengineering.com/refining/27032019/haldor-topsoe-releases-annual-report-for-2018/