08/11/2009 - Interim results for first half-year 2009: Süd-Chemie shows positive earnings performance after weak start to the year

- Interim revenue recorded moderate drop of 4.3% to EUR 545.4 million compared with 2008

- Interim profit from operations (EBIT) stood at EUR 39.8 million, 26.4% lower than 2008, after a satisfactory second quarter in 2009

- Outlook confirmed: revenue for full year 2009 still expected to be approx. 4% down on 2008, with EBIT falling by no more than 20%

In view of a marked drop in worldwide demand for chemical products, Süd-Chemie AG, Munich has performed comparatively well. During the first six months of 2009, consolidated revenue generated by the leading specialty chemical company for adsorbents and catalysts fell by 4.3% to EUR 545.4 million compared with the first half of 2008. Currency effects had a positive influence, boosting revenue by EUR 12.4 million, while companies and holdings acquired during the second half of 2008 also contributed revenue of EUR 5.7 million. Due mainly to a downturn in its automobile-related foundry chemicals business, the Adsorbents Divisions reported a 10.7% drop in revenue compared with the same period in 2008, generating EUR 313.4 million. The Catalysts Division was however able to record a 6.2% increase in revenue to EUR 232.0 million owing to its satisfactory business with process catalysts for petrochemical and refining plants during the first half of 2009.

In terms of consolidated profit from operations (EBIT), Süd-Chemie´s performance reached last year´s level, following a weak start to the year. Although on a year-on-year basis, the EBIT fell faster than revenue during the first six months of 2009, dipping by 26.4% to EUR 39.8 million, mainly as a result of idle capacity in the wake of the recession, an improvement was however recorded in the course of the year. Thus in the first quarter of 2009, the EBIT had still been 54.4% down on the 2008 figure, due largely to a weak business performance in January and February and negative extraordinary items resulting from commodity hedges and inventory valuations. Along with lower commodity costs, a corporate program to secure earnings and liquidity, which was swiftly implemented to counteract falling demand in certain segments, generated a positive effect. This included, among other things, a Group-wide recruitment ban and resolute implementation of cost-cutting potential. Compared with the same period in 2008, earnings before interest, taxes and depreciation (EBITDA) fell by 7.9% to EUR 69.6 million during the first half of 2009.

Outlook for 2009 reaffirmed

In spite of the difficult overall situation, Süd-Chemie is adhering to its forecast for the full year 2009 published in March 2009, based on its continuing excellent market positions, a satisfactory trend in incoming orders in key segments and the positive impact of its systematically implemented cost-cutting measures. As a result, the company anticipates consolidated revenue of between EUR 1.15 and EUR 1.2 billion which, compared with 2008, represents a drop of some 4%. Operating profit (EBIT) is expected to fall to between EUR 95 and EUR 100 million, down by some 20% compared with last year.

The Süd-Chemie AG Interim Report January to June 2009 can be downloaded at www.sud-chemie.com.

Munich, 11 August 2009

Statements relating to future events

This report contains statements relating to future events based on current estimates made by the management with respect to prospective developments. Such statements are subject to uncertainties and risks which Süd-Chemie is neither able to control nor accurately assess, including for instance future market conditions and the economic environment, the behavior of other market participants or governmental measures. Should any one of these, or other uncertain or unassessable factors take effect, or should assumptions on which the statements are based prove to be incorrect, the actual results may differ significantly from those explicitly defined or implicitly contained in these statements. Süd-Chemie neither intends nor undertakes a specific obligation to update statements relating to future events in order to adjust these in line with events or developments occurring after the date of this report.

About Süd-Chemie

Süd-Chemie (www.sud-chemie.com) is a publicly quoted (Security Identification Number ISIN: DE0007292005; WKN: 729200) specialty chemicals company headquartered in Munich, Germany and operating on a worldwide scale. Key markets served by its Adsorbents Division include the consumer goods, packaging and foundry industries, as well water treatment. Products manufactured by the Catalysts Division offer solutions for the chemical, petrochemical and refinery industries, for energy storage and hydrogen production, as well as off-gas purification. The common denominator of all Süd-Chemie products and services is the efficient and sparing use of natural resources to enhance the quality of life for humans and the environment. The Süd-Chemie Group generated sales of €1.191 billion in 2008, approx. 80% of these outside Germany. At the end of June 2009, the group employed some 6,300 people in its 80 sales and production companies worldwide.