Ghent, 30 August 2010 - press release

Record EBITDA in first half of 2010

• Revenue: € 360 million (up almost 20% versus first half 2009; volumes up 12%)
• EBITDA: € 82.5 million (up € 7.5 million or 10% compared with first half 2009)
• Strong EBITDA margin of 23%, in line with full year 2009
• Resilient business model and strong market position ensure further sales and EBITDA growth in Functional Chemicals and Agro Sciences division
• Major investments in new amine derivative capacity in US and Belgium – more to come

Volumes recovered strongly in the first half of 2010 compared with the first half of last year in both divisions and are back to pre-crisis levels in most business units. Taminco revenue increased 20% to € 360 million. Consequently, EBITDA in the first six months rose to a record high € 82.5 million, up 10% from the same period last year, and confirming a sustainable EBITDA margin of 23%. This performance has been driven by strong demand in all of our applications and the successful growth of some recent new product launches such as Taminizer® C in Feed Additives, Banguard® in Crop Protection and Vantex®-T in Performance Products.

During the first half we have completed a major investment in new amine derivative production capacity at our St Gabriel (Louisiana) site in the US, allowing us to fully integrate the business from our former Riverview (Michigan) site, which we closed at the end of last year. Thanks to this, we have achieved significant cost savings and we will further optimize and grow our position in the water treatment, surfactants, oil & gas, coatings and metal working fluid markets in the second half of 2010 and in the years to come. In our main Gent (Belgium) site, we have completed an important investment in a new unit for green solvents, which will open another avenue for growth in the second half of the year. We have also opened an office in Perth (Australia) as part of our globalization program and in order to be even closer to our customers in the growing Asia-Pacific region. Total investments in these expansion projects exceeded EUR 50 million.

Meanwhile, our balance sheet position remains strong and our leverage ratio (net debt/EBITDA) remained stable, despite the significant investments in the expansion of our production sites and the strengthening of the US dollar.

please click below for full text of this release (english & dutch version):

Attachments:

Press release - Taminco Half year results 2010 (English version)

Persbericht - Taminco Halfjaarresultaten 2010 (Dutch version)