IBU-tec - Return to growth
FY18 was successful for IBU-tec on several fronts. Organic revenues rose by 13% to a record high, reversing the decline in FY17. There was strong growth in demand for battery materials and chemicals catalysts following the programme instigated in H217 to reduce dependence on sales of materials for automotive catalysts. Including BNT Chemicals (BNT), acquired in June 2018, revenues almost trebled, while EBITDA increased by 60%. Management expects growth to continue in FY19, supported by the first output from the new site in Bitterfeld, acquired in April 2018.
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