Lonza Charts Strong 2000 Performance

Lonza Charts Strong 2000 Performance

BASEL, Switzerland--Lonza Group Ltd. reported improved resultsfor its fiscal year 2000, including both top-line and bottom-line growth.Revenues climbed eight percent to 1.7 billion CHF ($1.02 billion U.S.) from 1.6billion CHF ($.94 billion U.S.), compared to the year prior, while operatingmargin increased one point to 19.2 percent. Net income reached 309 million CHF($185 million U.S.), up 13 percent from 273 million CHF ($163.4 million U.S.)earned the previous year.

The company noted that its Organic Fine and Performance Chemicals divisioncontributed a great amount of growth due largely to its exposure to the U.S.dollar, which experienced favorable movements during the year. However,U.S.-dollar-dominated raw material pricing and rising oil prices dampened thecurrency gains. This division experienced a more subdued performance in thesecond half of 2000 yet still managed to improve operating marginsyear-over-year on a currency-equivalent basis. Lonza added that the demand forthe production of vitamins increased compared to the previous year, and sales ofnicotinates (B complex vitamins) at Lonza's Swiss and Chinese productionfacilities were "buoyant."