Pfleiderer Reports Record Performance in 2007

Neumarkt, Germany, April 3, 2008--Pfleiderer reported a record year in 2007 "despite a challenging environment."

It said that revenue was up by 27 percent to and earnings before interest, taxes, depreciation, and amortization climbed by 20 percent.

However, a one time charge related to Pergo restructuring hurt overall numbers.

The company expects revenue to rise by 15 percent in 2008 to $3.1 billion, and earnings to rise by 15 percent.

'We generated very respectable increases in revenue and earnings in 2007 despite all the difficulties surrounding our business in North America, and Pfleiderer looks set for continued profitable growth in 2008," said CEO Hans H. Overdiek.

Over the past four years, Pfleiderer has reported average annual revenue growth of 33 percent.

Pfleiderer plans capital expenditures of around $300 million.

In a separate issue, Pfleiderer said that One Equity Partners (OEP) is interested in raising its stake in the company above the 15 percent it already owns. However, it said that OEP would not increase its stake above 30 percent.