Victory has made a solid start to 2019

Sales rose 1 percent to 3.29 billion euros
adjusted EBITDA fell slightly to 539 million euros
free cash flow increased significantly to 159 million euros
2019 outlook upward revision: adjusted EBITDA stabilized at least
Victory made a solid start to the new year. Sales rose 1 percent to 3.29 billion euros in the first quarter compared with the same period last year. Adjusted EBITDA fell 3 percent to 539 million euros

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"In a weak global economy, we are able to stay ahead of the curve in terms of sales and revenue," said Christian Kullmann, chairman of the executive board. "With free cash flow, we can even make significant gains. In the face of macroeconomic trends, our portfolio is now stronger than it used to be. Divestiture of our methyl acrylates business will help achieve this goal. The
EBITDA due to one-time start-up costs for new production facilities and temporary bottlenecks in the supply of raw materials in the high-performance materials sector. Accordingly, adjusted EBITDA margins fell to 16.4% from 17.1%. Adjusted net income decreased 5% to EUR 249 million, or EUR 0.53 per share.
free cash flow increased significantly year-on-year, by EUR 109 million to EUR 159 million. This was mainly due to an increase in net working capital and a decrease in pension payments.
outlook is
the prospects for continuing operations have been revised as a result of the agreed sale of the methyl acrylates business. Ingtrone now expects adjusted EBITDA and sales to be at least the same as last year. Proceeds from the planned acquisition of U.S. company Peroxy Chem are not included in the revised guidelines. In 2018, adjusted EBITDA for continuing operations was EUR 2.15 billion and sales were EUR 13.3 billion.
made significant progress in the company-wide cost-saving program and contributed to profitability. By the end of the year, more than half of the 1,000 job cuts will be made.
Segmentation performance
resource efficiency:
business continued to grow successfully in the first quarter of 2019. Sales rose
3 percent to 1,399 million euros. This was mainly due to higher sales and slightly lower turnover than in the same period last year. Demand for high-performance polymers (polyamide 12) and membranes remains high, resulting in a positive impact on price increases, resulting in a correspondingly strong increase in sales. The company also reported higher sales due to high demand, particularly for composite applications in the wind energy market, and silicon dioxide, benefiting from satisfactory trends in rubber and tire applications. Adjusted EBITDA rose 2 percent to 324 million euros, despite lower start-up costs at the new silicon dioxide plant in the United States.
care: Sales
3% in the first quarter of 2019 to EUR 1,149 million. This was mainly due to higher sales and lower sales prices. Sales of essential amino acids for animal nutrition declined slightly as a result of lower sales prices. In contrast, sales have increased significantly. The care solutions business has developed satisfactorily, benefiting from higher demand for specialized applications, such as the cosmetics industry. Adjusted EBITDA was EUR 180 million, down 14% from the same period last year, in part due to plans to launch a new methionine facility in Singapore in mid-2019.
:
first quarter of 2019 sales decreased
compared to the same period last year, due to lower sales, lower prices and negative currency impact, this figure was EUR 550 million. The development of performance intermediates
(C 4 chemicals) adversely affected by supplier technical problems and limited supply of raw materials due to falling prices for tar? As a result, sales fell. In contrast, the functional solutions line of business generates higher sales. The business mainly benefits from higher demand for alcohol salts. The sector's adjusted EBITDA fell 9 per cent to 59 million euros.
business has been transferred to discontinued operations and is expected to be handed over in the third quarter.
Company Information
is one of the global leaders in specialty chemicals. Focusing on more specialized businesses, customer-oriented innovation and a reputational and performance-oriented corporate culture form the core of Estron's strategy. They are leverage for profitable growth and a continuous growth in the value of the company. Win in particular benefits from its customer proximity and leading market position. Estron is active in more than 100 countries around the world. In fiscal 2018, companies with more than 32,000 employees received sales of EUR 13.3 billion and operating profits of EUR 2.15 billion (adjusted EBITDA) from continuing operations.
's international activities are divided into six regions. Asia Pacific North is headquartered in Shanghai. Sales of continuing operations in the north of Asia Pacific reached EUR 1.97 billion in 2018. Ingtron sees China as one of the drivers of the global economy, so we are committed to growing our business here. The company currently employs more than 2,500 people and has 10 production sites in China.