NAPERVILLE, Ill., May 17, 2010 (GLOBE NEWSWIRE) -- Ahead of its Investor Day tomorrow, Nalco (NYSE:NLC) re-confirmed that it expects to double its growth rate from historic levels by year-end 2011 and drive even faster earnings growth.
"With continued emphasis on accelerating growth in BRIC+ geographies and key technology growth drivers, we expect to double our underlying organic growth to a 6 to 8 percent level as a run rate by the end of 2011," said Nalco Chairman and Chief Executive Officer Erik Fyrwald. Historically, Nalco's organic growth absent substantial raw material cost-driven pricing has been 3 to 4 percent annually.
Fyrwald addressed expectations for the next three-year planning horizon, noting:
-
Adjusted EBITDA for 2010 should exceed $710 million, a gain of 8 percent or more. As the higher sales growth is achieved, Adjusted EBITDA, aided by continuing productivity gains, is expected to grow at about a 10 percent annual rate through at least 2011 and 2012.
- Helped by expected interest and tax reductions the Company is working to achieve, Adjusted Earnings Per Share for 2010 is expected to exceed $1.30, growth of more than 40 percent, followed by annual gains of better than 20 percent in each of 2011 and 2012
The Company made no adjustment to its recent 2010 performance guidance of Free Cash Flow generation of more than $100 million.
Nalco's Investor Day is being held at its Naperville headquarters tomorrow from 8 a.m. to noon Central time. A webcast of the presentations by Fyrwald, Chief Financial Officer Brad Bell and the Company's four division presidents will be available live and in replay at www.nalco.com/investors.
About Nalco
Nalco is the world's leading water treatment and process improvement company, delivering significant environmental, social and economic performance benefits to our customers. We help our customers reduce energy, water and other natural resource consumption, enhance air quality, minimize environmental releases and improve productivity and end products while boosting the bottom line. Together our comprehensive solutions contribute to the sustainable development of customer operations. Nalco is a member of the Dow Jones Sustainability World Index. More than 11,500 Nalco employees operate in 150 countries supported by a comprehensive network of manufacturing facilities, sales offices and research centers to serve a broad range of end markets. In 2009, Nalco achieved sales of more than $3.7 billion. For more information visit www.nalco.com.
Follow us on Twitter at www.twitter.com/Nalco_News and www.twitter.com/NalcoCompany.
The Nalco Company logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=1135
This news release includes forward-looking statements, reflecting current analysis and expectations, based on what are believed to be reasonable assumptions. Forward-looking statements may involve known and unknown risks, uncertainties and other factors, which may cause the actual results to differ materially from those projected, stated or implied, depending on many factors, including, without limitation: ability to generate cash, ability to raise capital, ability to refinance, the result of the pursuit of strategic alternatives, ability to execute work process redesign and reduce costs, ability to execute price increases, business climate, business performance, economic and competitive uncertainties, higher manufacturing costs, reduced level of customer orders, changes in strategies, risks in developing new products and technologies, environmental and safety regulations and clean-up costs, foreign exchange rates, the impact of changes in the regulation or value of pension fund assets and liabilities, changes in generally accepted accounting principles, adverse legal and regulatory developments, including increases in the number or financial exposures of claims, lawsuits, settlements or judgments, or the inability to eliminate or reduce such financial exposures by collecting indemnity payments from insurers, the impact of increased accruals and reserves for such exposures, weather-related factors, and adverse changes in economic and political climates around the world, including terrorism and international hostilities, and other risk factors identified by the Company. Accordingly, there can be no assurance that the Company will meet future results, performance or achievements expressed or implied by such forward-looking statements. This paragraph is included to provide safe harbor for forward-looking statements, which are not generally required to be publicly revised as circumstances change, and which the Company does not intend to update.