This means the group has managed to maintain its position in what was once again a difficult market environment.

In the Core West business unit (Western Europe region), despite difficult market conditions, Pfleiderer benefited from its reorganised branding and in sales as well as from its competitive production facilities.

The Core East business unit (Eastern Europe region) was able to exceed its own expectations in a stable sector environment.

The operative result before EBITDA rose in the business year 2013 by 17% to €104.4m. This meant an improvement in the EBITDA margin from 9.4% to 11.2% of sales.