Brussels, August 17th, 2011
Regulated information* Press release
Tessenderlo Group provides adjusted historical financial data for comparison purposes
Following the sale of its PVC and Chlor-Alkali activities, including part of Organic Chlorine
Derivatives, to Kerling (through Ineos ChlorVinyls), a privately held UK-based company.
Tessenderlo Group (NYSE Euronext: TESB) will start presenting its financial data in accordance with IFRS 5 Non-current assets held for sale and discontinued operations, resulting in a split between continuing operations and discontinued operations. The data in annex will be relevant for comparison purposes for continuing operations.
In order to facilitate a good understanding of historical financial data from continuing operations, which serve as a comparison base for the group’s results in the following quarters, Tessenderlo Group has provided in annex results data for the four quarters of 2010 (1Q10, 2Q10, 3Q10 and 4Q10) and full year 2010 (FY 2010), as well as the first quarter of 2011 (1Q11).
Following are some clarifying remarks which should be read in association with the data in annex:
· In accordance with IFRS 5 Non-current assets held for sale and discontinued operations, the operating segment PVC/Chlor-Alkali will be reported separately as `Discontinued operations
PVC/Chlor-Alkali’.
· For continuing operations, the group has eight reporting segments as defined under IFRS 8
Operating Segments. Four segments fulfill quantitative thresholds and are reported separately, while four segments do not and are grouped in Other Businesses. This structure is reflected in the annex.
· Previously, the operating segment PVC/Chlor-Alkali included activities, namely Water Treatment and Sulfur Derivatives, which are retained by the group. As these activities do not fulfill quantitative thresholds under IFRS 8, they are included in Other Businesses, along with
Compounds, Pharmaceutical Intermediates, and Organic Chlorine Derivatives. All historical quarters in annex have been adjusted to account for this change.
· Note that the part of Organic Chlorine Derivatives which was sold to Ineos ChlorVinyls does not fulfill the requirements of IFRS 5, and therefore continues to be included in Other Businesses as part of the group’s continuing operations up to and including July 2011, when the transaction was completed.
Tessenderlo Group is an international chemicals company with over 100 locations worldwide. About 7,200 people work for the group. The group is a world and European leader in most of its product areas with a consolidated revenue totaling 2.4 billion EUR in 2010. Tessenderlo Chemie NV is listed on
Eurolist by Euronext Brussels and is part of Next 150 and BEL Mid indices. Financial News wires:
Bloomberg: TESB BB Reuters: TesBt.BR Datastream: B:Tes
Media Relations Investor Relations
Mrs. Kathleen IWENS Mr. Philip LUDWIG
+32 (0) 478 664 555 +32 2 639 16 58
This press release is available on the corporate web site www.tessenderlogroup.com
**The enclosed information constitutes regulated information as defined in the Royal Decree of 14 November 2007 regarding the duties of issuers of financial instruments which have been admitted for trading on a regulated market
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