KEI Industries Ltd. | Q&A on Pre-Budget as New Year to Begin with High Expectations

MUMBAI, 31 DECEMBER, 2019 (GPN): During the past few weeks/months the Government had genuinely tried to lubricate the economy, the results of which can be expected only in the first quarter next year. Markets are likely to remain sideways with upward bias on high hopes of revival package in the budget.The GDP growth rate for the second quarter dropped to its lowest in six years.India’s GDP for the second quarter of the financial year 2019 (Jul-Sep 19) was 4.5 – lowest since 2012-13.

1. Budget 2020-21 will be presented soon. What would be your suggestions to the government for boosting demand for wires & cables?

As you all know the government has recently announced various measures to bring glory in the Indian economic scenario to achieve the $5-trillion mark for the economy just ahead of the Budget 2020-21. My suggestion would be to make agreeable investments in the power sector to achieve 100% electrification in our country.  Also better investment in the power sector will definitely boost the demands for the wires and the cables industry. We are optimistic about the growing market of house wires as they are energy-efficient and meet the highest level of safety standards for domestic and commercial usage.

2. How is the wires & cables market in India at present? What is driving the demand?

The wire and cable industry in India has been evolving very well because it is positively connected with the growth of the economy. The government intends to spend Rs 100 lakh crore on infrastructural development in the next five years. As we all know, the wire and cable industry is directly connected with infrastructural development, which includes railways, metros, power, renewable energy, hospitals, government exhibition centres, public centres and national highways, are bound to push up the demand for wire and cable in India. The boom in the industrial sector also increases the demand for wires and cables. In the last three years, huge investments have been made in infrastructural development. Up-gradation of motor vehicle fuel to BS6 has prompted refineries to upgrade themselves with an investment of approximately Rs. 2 lakh crore.

3. Which are the new areas of opportunities that Indian wires & cables industry needs to look to tap?

There are so many new areas of opportunities coming up right now in the Indian wires and cables industry. The real estate sector, comprising residential, commercial, hotels, hospitals and other infrastructural projects are offering big investment opportunities to the wire and cable industry. The biggest investment opportunity comes from metros and railway electrification. Several kilometres of metro lines in Phase-4 of the Delhi Metro Project and 7 lines of the Mumbai Metro project are being laid down. Every big city in India will soon have a metro. In addition, the development of new airports has also brought in another investment opportunity for the industry. Many existing airports have been upgraded, and new airports are being built. Another major investment area is the renewable energy sector. Investments are heavier in the transmission and distribution sector, where we have to get power from different sites and strengthen the distribution system in cities through underground cable network.

4. How will rise in demand for electric vehicles aid growth of wires & cables industry? 

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5. India aims to make manufacturing a $1 trillion sector by 2025. How important will be the role of wires & cables industry in achieving this target?

With the aim to make manufacturing a $1 trillion sector by 2025 the wires and cables industry will be playing a major role in the Indian economy.  Technological advancement and better investment in the wire and cable industry will help in accelerating the growth of the economy. Indian cities will witness huge expansion in underground cables.

6. On the eve of Elecrama 2020, would you like to give any message to exhibitors, visitors and the industry (in general)?

As you all know ELECRAMA is a platform to connect the world with Indian industry in respect of technology, new trends and innovation for future energy transition. It is also a stage where all global leaders can meet and share their ideas to develop cost effective solutions for the world.

7. What are your growth plans for KEI Industries?

We are expecting to grow more than 15 percent in the coming years. Our company had witnessed growth substantially in the past 2-3 years. We at KEI Industries have grown at an annualized rate of 73 percent over FY14-19 and is the fastest growing cable-and-wire maker, supported by strong institutional and retail sales as well as exports. We have significant PAN-India presence in the retail division and have achieved phenomenal progress in this segment over the past few years. We have increased our distribution strength to 1450 channel partners from 1284 in the previous year and the retail sales have grown to almost 43%. We also offer three wires under the house wires segment namely; Homecab-FR, Conflame-FRLS and Banfire-ZHFR. ENDS

Pi Lo Shudh Pani Seva Foundation reaches new heights, Served 19,253,961.25 liters of water in 2019

India, 27th December 2019 (HPN): Pi-Lo Shudh Pani Seva Foundation, a non-profit organization serving water across various regions of the country without taking any monetary support from the Government has achieved a golden milestone this year. The NPO served free RO purified and UV filtered water with zero wastage to millions of people.  A single water Pi-Lo water ATM treats 500 liters of water on an hourly basis. Their journey in the year 2019 has been commendable, as in a country like India where the population is 1,369 million, Pi-Lo has managed to serve water to around 48,666,694 people across the country. They signed contracts with U.P Braj Teerth Vikas Parishad (UPBTVP) in Mathura and Agra Development Authority (ADA) and Cultural Ministry of Agra to install 20 Pi-Lo water ATMs in Mathura, 12 machines in Agra and 9 machines across 5 tourist monuments in Agra – Fatehpur Sikri. Moreover, Pi-Lo had actively participated in two mega events of the year and also successfully installed water ATM machines at Kumbh Mela 2019 and 550th Prakash Purab, Punjab respectively and served free drinking water to one and all.

Mathura, fondly known as Braj Nagari or Krishna Circuit every year invites millions of pilgrims comprising of a mix of urban, rural and foreign visitors. Out of these pilgrims a large percentage is of rural (village) population for whom spending Rs. 20 for a plastic water bottle for one time is not possible. Talking about the development in Mathura how can we forget Agra? The Mughal architecture invites millions of tourists, but the poor water in the region often acts as a concern. Helping these people by quenching their thirst, Pi-Lo’s smart water ATMs provide RO purified water to people free of cost.

Speaking about the development of installation of Pi-Lo water ATM’s Mr. Jatin Ahlawat, Director, Pi-Lo Shudh Pani Seva said, “Until now, 6 Water ATM machines have been installed at various locations in Mathura and we are planning to install 14 more machines by March 2020. Similarly, in Agra 3 machines have been installed and 9 machines will be installed by first quarter of 2020. We have allocated Rs. 2.30 Cr for the same.”

2019 had been a great year for Pi-Lo, speaking about their achievements so far Mr. Ahlawat said, “Our journey this year has been commendable, serving 5133268 liters of water in Kumbh, Prayagraj from January to March 2019. We are also working with Delhi Jal Board (DJB), Noida Authority, CPCB, and Railway Authority for installing Pi-Lo RO Purified Water ATM Machines. In November, we had installed 25 Pi-Lo Water ATMs to serve free RO drinking water to 3.5 million Pilgrims 24*7.”

Pi-Lo Shudh Pani Seva Foundation intends to expand its services in 2020 by serving more and more people with filtered drinking water at free of cost.ENDS

India ITME Society launches commemorative postal stamp

From Left to Right : Mr Ketan Sanghvi, Treasurer ITME, Former Chief Justice of India, Shri P Sathasivam, H.E Ms Dorothy Tembo, Dy Exe Director of Intl Trade Centre, UN, Mr Harishankar, Chairman of India ITME Society and Ms Swati Pandey – Postmaster General (Mumbai Region), India Post (Govt. of India).-Photo By HPN

MUMBAI, 24 DECEMBER, 2019 (HPN): India  ITME Society today announced its 40th year of service to the Indian & International Textile Machinery & Textile Technology industry.  To celebrate their undeterred and excellent service for over four decades, India ITME Society launched a commemorative postal stamp as a mark of pride and humble gratitude to a great nation.

India ITME Society took a bold step towards projecting India as a friendly & feasible sourcing destination for African SMEs, Designers & Entrepreneurs.   This aided in opening up new customers for the Indian Textile Industry.

During this memorable event, it organized a B2B meeting with women Entrepreneurs from 4 African nations viz. Ethiopia, Uganda, Rwanda & Kenya and aimed to empower women all across the world and introduced ‘Women Entrepreneur Initiative’, one of the many value added services for the benefit of the industry and the nation.

Mr Hari Shankar – Chairman of India ITME Society said, “India ITME Society acknowledges the importance of industry associations by supporting trade and investment for its members not only domestically, but also globally.  The society is encouraging dialogue between industry associations, developing better business connects between countries and expanding customer connect & market access globally through associations as part of their ‘Global Connect Initiative’.

India ITME Society has evolved into a global phenomenon embracing internationalism and reaching out to emerging economies. India witnessed its first exhibition in 1980 & since then the legacy has been successfully carried forward.

Its exhibitions series namely India ITME Series & GTTES along with several supporting initiatives have heralded a new era in the Textile Engineering Industry. Furthering the objective of promoting trade and investments, creating a friendly environment and forging a vibrant private sector partnership with the Government, Business Community, Development Partners and other Stakeholders. 

Today’s event began, with lighting of lamp by Chief guest Justice Shri P. Sathasivam – Former Chief Justice of India, Former Governor of Kerala; Guest of honour H.E. Ms Dorothy Tembo – Deputy Executive Director, International Trade Centre, UN and Special Guest Ms. Swati Pandey – Postmaster General (Mumbai Region), India Post (Govt. of India). followed by cocktail dinner.

A special interactive session on “strengthening bilateral trade relation with neighboring countries” was organized for industry members, associations and officials on the same day. This session was addressed by H.E – Ms. Dorothy Tembo, Deputy Executive Director, International Trade Centre, UN, who was in India for the first time, to encourage Indo – Africa bilateral trade relations. This unique session provided an opportunity for participants to interact with industry associations from Botswana, Bangladesh, Sri Lanka, Afghanistan, Turkey, Ghana, Switzerland and India.

In the panel discussion, the topic “Role of Associations in strengthening bilateral trade” was delivered by panel speakers Mr. Govind Venuprasad – International Trade Centre’s (ITC); Mr. Krishna Chinniah – President of the Botswana Textile & Clothing Association; Mr. Faruque Hassan – Consulate General of Greece in Bangladesh; Mr. Richard Salvatore – General Coordinator (TEMSAD); Mrs. Doris N. Kessie – CEO/DIRECTOR of D-G EMBROIDERY and Doress Fashion & Designs Institute; Prof. Dr.-Ing. Yves-Simon Gloy. Mr. Gloy – RWTH Aachen University, Germany and H.E. Mr.Demeke Atnafu Ambulo – The Consulate General of the Federal Democratic Republic of Ethiopia in Mumbai. ENDS

Senco Gold & Diamonds launches ‘The Great Indian Vivaha Collection’

MUMBAI, 24 DECEMBER, 2019 (HPN): Senco Gold & Diamonds, one of the largest jewellery retail chains of India, unveiled ‘The Great Indian Vivaha Collection’ – a range of new bridal jewellery collection to cater to the peak wedding season demand.  Featuring intricate and exquisitely detailed designs in gold and diamonds, the Great Indian Vivaha Collectionshowcases the quality of craftsmanship that Senco Gold & Diamonds’ karigars possess.

Each piece of jewellery is perfectly designed to reflect the unique beauty of every bride across the country – from the demure Bengali bride to the swag of the Punjabi bride; from the elegant Muslim bride to the proudly traditional South Indian bride…the collection is tailor-made to make every Indian woman dazzle on her special day.

Shaadi, Vivaham, Nikah, Kalyanam, Bibaho are different cultures of marriage, but signify the essence of emotion, joy, and togetherness of two souls. Every bride aspires to look like a ‘princess’ on wedding day. The bridal jewelry intensifies the beauty of the attire and takes it to another level. Behind adorning bride with a few precious pieces of jewelry has a symbolic meaning and reason. Rings, Jhoomar, Nath, Haathphol, Maangtika, Necklace Set, Armband, Nose Pin, Hair Accessory, Waistband, Bangles, Toe rings, Anklets, Nath, Sankha & Pola (Bangle), Kharu, Chic and Long Chain are the auspicious accessories which complete every bride’s look.

Some of the showstopper pieces from The Great Indian Vivaha collection are:-

This piece is truly a one-of-a-kind due to its unique design element. The 22kt gold 3 layer sita-haar is based on mayur theme with the combination of guinea and meenakari. It’s a perfect piece for wedding where you will find ethnic elements are playing with new age thinking.

This showstopper piece has beautiful meenakari with green enamel at center. Made of 22kt gold, this incredible art worked neckpiece and earrings array the eternity of emotion. This extraordinary cuttay piece will make the bride the most graceful bride ever.

This “choker” neck piece is made of sleek filigree work. Re-creating the geometric vibe in gold and highlighting with meenakari with green and blue enamel makes this neckpiece an enchanting piece any woman would love to own.

This gold crafted bangle is the art of karigari where enhancement has done with timeless effort that beautify the sophistication. Team up this with a silk saree to look gorgeous.It was during these interactions with Indian royalties where this kind of magnificently crafted kharu popularly known as Bridal Armor. This intricate bangle will complete your traditional look.

The necklace is the home of craftsmanship, the flawlessness of chillai, filigree and cuttay artwork has praised the effort of workmanship of Senco Gold and Diamonds.

The royalties also patronize these modern Indian Jewelleries by its delicate work and timeless beauty. The petal design which has embellished with meenakari art divine the exquisiteness.

This necklace has set the level by not just for its grandeur, also for its mysterious crafting. This royal neckpiece has enhancement of chillai, high-polish effect and many more artwork to indulge its sophistication.

Everybody knew bride look perfect when she adorn herself with an exquisite Choker set intricate with colourful beads, stones, polki which embellished her such a way that everyone couldn’t take their  eyes off.  Behind adorning yourself with a few precious pieces of jewelry has a symbolic meaning and reason in it.

Moon is our inspiration light from where we get lot of inspiration and motivation to bling always. Likewise, neck is the bride’s main attraction point and this glamourous drop necklace intricate with sparkle polkis, colourful stones, and tinny hanging elegant pearls that beautify the look.

A Bride couldn’t be complete without a necklace enriched with elegant polki, meenakari work and pearl, along another very important thing is arrays the emotion and love of your culture.

When everyone comes to see “Bodhu” they meant her beautiful Jewellery which she gonna wear. And this melancholic sparkle jhumka showcasing with elegant polkis and tinny pearls that makes it to indulge the intelligibility of her vision.

Filigree cutwork has a unique embellishment with stones. Leaf friendly neck piece owes its style with flower. The traditional motifs make it great for social events and festive occasions.

Your ears going to feel the attraction point, by this royal dangler. The pattern of the earring is arrays the painstakingly effort by our great Karigars. Wear it to look glamorous.

Check out The Great Indian Vivaha collection here:

https://sencogoldanddiamonds.com/products/category/wedding-collection-gold

Senco Gold & Diamonds offers 25% discount on gold and diamonds jewellery making charges and 10%discount on diamond value at stores. Also offers 0% Deduction on old gold exchange.

“Saat paake bandha”, the wedding combo package of 7 jewelries staring from 2.5 Lac, Diamond package includes – Necklace, ear rings, mangal sutra, nose pin, ring and noa whereas Gold package includes – Sitahar, necklace, ear ring, churi, shankha , pola, noa, ring. ENDS

Institute of Cost Accountants of India organized conclave on ‘Cost Audit – Stakeholders’ Value Proposition

MUMBAI, 23 DECEMBER, 2019 (HPN): Technical Cell of Institute of Cost Accountants of India organized one day Conclave on Cost Audit Stakeholders Value. Former Cabinet Minister Shri Suresh Prabhu was Chief Guest and Shri T S Balasubramanium Member Finance Tariff Authority of Major Ports was Guest of Honour. The conclave was conducted on 20th December 2019 at Yashwantrao Chavan Auditorium, Nariman Point Mumbai. During his speech on the ocession Shri Suresh Prabhu stressed upon importance of cost accountancy and cost consciousness in current global economy, where cost control is the way for business survival. Shri Prabhu also added importance of Cost Audit like mechanism in Current scenario. He also released book on Internal Audit of Cost Records published by Technical Cell of Institute. Guest of Honor Shri T S Balasubramanium stressed upon utilities of Cost Audit by government authorities in the past. While speaking on the conclave Dr, Dhananjay Joshi emphasised that Government should use mechanism like Cost Audit more effectively to have cost control and cost reduction for government organizations and departments.

Shri Prabhu in his speech also shared experience working with Railways wherein he found that Cost and Management techniques like Cost Centre, Profit Centre are not used effectively. He also said that Cost Accountants should come forward with Natural Resource Accounting to preserve Natural Resources of the Country. Sitting Rajya Sabha MP Shri Prabhu’s speech was well appreciated across fraternity of Cost Accountants all across.

Besides that Experts from fields like Income Tax, GST, Industry, Economics, Consumer Forums, Banks were invited as speaker and many of them stressed upon increasing scope of Cost Audit across the sector. It was attended by large number of Members and Students of Institute. CMA Balwinder Singh President and CMA Bishwaroop Basu Vice President also attended the Conclave. CMAs Neeraj Joshi, Ashish Thatte, Vinayak Kulkarni and Chaitanya Mohrir took good efforts to make the One day conclave successful. ENDS

NESCO organizes strategic ‘Technology Transfer Meet’ between Indian Companies and South Korean Delegation resulting in signing about 11 MOUs worth Rs 120 crore

 19th DECEMBER 2019 (HPN) :  Tech Connect Global – the Official Technology Trading Event between India and Korea organised by NESCO Ltd and WEVIO Global Inc in Mumbai generated 11 MOUs between Indian manufacturers and South Korean Tech Companies for transfer of the latest technology to Indian establishments to the tune of Rs 120 crore and other two MOUs for Government tendering worth Rs 50 crore.

Tech Connect Global provided all Korean participating companies with authentic Indian Counterparts for joint venture and technology transfer opportunities. The parallel Seminars delivered by Maharashtra Industrial Development Corporation (MIDC), Aurangabad Industrial City (AURIC), Maharashtra Pollution Control Board (MPCB) provided the stakeholders with essential information for technology trading, licensing & investments.

While explaining the objective behind organizing this meet Tejinder Singh Nagi – General Manager, Nesco Exhibitions said “The aim of this event is to commercialize the Technology with India & Korea Collaborations to facilitate “Make in India” and export to Global Markets. This aim was successfully met with more than 11 spot MOU’s signed during the event. This is in continuation to 18+ MOU’s signed earlier in October during the India Auto Show”. Nagi further added “We at Nesco Exhibitions strive to conceptualize and deliberate on topics which addresses the key issues concerning the Indian Industry. The Tech Connect Global is a step towards achieving the same”.

Calvin Yi – CEO & President of Wevio Global Inc stated “We are encouraged by the response received at our first TCG meet organised by Nesco Exhibitions. In the forthcoming editions of TCG, the vision is besides South Korea we would add more participating nations like USA, Germany, Italy, Singapore, Japan and few others in order to globalize and facilitate the technology trade at the levels aspired since a long time in India”. He further added “Technology transfer will prove to be the fastest route to bridge the gap of India’s developing to developed nation”.

The various Indian organisations and industry bodies participated in this first Tech Connect Global meet included SME Chamber of India, MIDC, Aurangabad Industrial City – DMIC, MCCIA, Maharashtra Industrial & Economic Development Association, Maharashtra Pollution Control Board, Tata Chemicals Limited and Finolex Industries Limited. ENDS

Preeti Thaker Arora was an elite VIP at birthday bash of Rani Mukherjee’s daughter Adira

Rani Mukherjee with Preeti Thaker Arora

MUMBAI, 16 DECEMBER, 2019 (HPN): Preeti Thaker Arora attended the birthday bash of Rani Mukherjee” daughter Adira and the pictures are so adorable.Adira was born to Rani and Aditya in November 2015, a year after their hush-hush wedding. This is her 4th Birthday.Preeti was snapped with Shah Rukh Khan and a host of other celebrities: Karan Johar, Hritik Roshan, Raveena Tandon and many more. The fashionista was also spotted chatting up with Aditya Chopra and Tusshar Kapoor whose son Laksshya who studies with her little princess Arianna. We spoke to her on the celebrations and here is what she says,” It’s always lovely meeting Rani and SRK and all the friends from the film fraternity. It’s a Unicorn themed party, the kids are enjoying and everyone is in a happy mood. Just seeing everyone so happy and abundant is such a high. I am very happy to see my daughter having a blast enjoying all the kiddie rides and the Goodies. All my lovely wishes and blessings to Adira”.

Preeti thaker Arora is a World Renowned Painter, Designer and a well-known Entrepreneur who has immensely contributed for the lesser privileged and have left and indelible impression with her social activities as well. She is a self taught painter and paints only to raise charities for pediatric heart surgeries of newly born babies. Looking at her incredible work it’s hard to believe. She is also the official “World Peace Ambassador and the Brand Ambassador of ” Little Hearts” Wockhardt Foundation. She has helped a lot of rural artists by bringing forth their talents and given them a prestigious platform to showcase their Art. She has a huge wishlist of working for the lesser privileged and we are very influenced by her contribution. She is also a founder of a fashion house ” World Fashion House” The Fashionista is many a times spotted in the social circuit aswell. We love you for paving the way Preeti. ENDS

LANXESS posts stable development in third quarter

COLOGNE, 14 DECEMBER, 2019 (HPN) – Specialty chemicals company LANXESS performed well again in the third quarter of 2019 – despite further deterioration of the economic environment. As expected, earnings in the third quarter were only slightly weaker than in the previous year. At EUR 267 million, EBITDA pre exceptionals was 3.6 percent down on the prior year’s figure of EUR 277 million.

Earnings were negatively impacted in particular by lower demand from the automotive industry and the weak chrome ore business. However, this was almost offset by the company’s stable portfolio and advantageous exchange-rate effects, especially from the strong U.S. dollar. The EBITDA margin came in at 15.0 percent, against 15.5 percent in the prior-year quarter.

“Our stable position has once again proven its value, enabling us to remain on track in these turbulent times. Although the environment is still challenging, we are now optimistically embarking on our final spurt for the year,” says Matthias Zachert, Chairman of the Board of Management of LANXESS AG.

LANXESS expects its EBITDA pre exceptionals in the fourth quarter to be slightly better than in the previous year. For the full year 2019, the specialty chemicals company expects its EBITDA pre exceptionals to be between EUR 1.000 billion and EUR 1.050 billion (previous year: EUR 1.016 billion).

Group sales in the third quarter of 2019 amounted to EUR 1.781 billion, on a par with the previous year’s level. Net income declined by 13.8 percent from EUR 80 million to EUR 69 million, mainly due to higher depreciation. Earnings per share decreased less significantly by 10.2 percent – from EUR 0.88 to EUR 0.79 – due to the lower average number of shares outstanding after the share buyback program.

Organometallics business realigned

LANXESS is taking another step to further develop its portfolio. The company is realigning its organometallics business in order to focus on profitable growth segments in the future. To this end, LANXESS is investing an amount in the mid-single-digit millions of euros at its location in Bergkamen, Germany, to expand production of aluminum-based organometallics, which are used as catalysts in the production of high-quality plastics. This business is characterized by attractive margins and good growth prospects.

Also in Bergkamen, LANXESS manufactures tin-based organometallics. The company has now sold this business to the PMC Group, a U.S. chemicals company. Both parties signed an agreement to this effect on November 9, 2019. The transaction is expected to close at the end of 2019. The parties have agreed not to disclose the purchase price. Until at least the end of 2021, LANXESS will continue to produce tin-based organometallics on a contract manufacturing basis for the future owner. Tin-based organometallics are mainly used for the production of polyvinyl chloride (PVC), catalysts and other chemical intermediate applications.

“By realigning our organometallics business, it will become much more stable and profitable,” says Hubert Fink, member of the Board of Management of LANXESS AG. “At the same time, we are convinced that the business with tin-based organometallics can be better developed under its new owner.”

Organometallics are part of the Advanced Industrial Intermediates business unit’s portfolio.

Q3 2019: Three of the four segments increase their operating result 

The Advanced Intermediates segment also performed well in the third quarter. In particular, this was largely due to good project business at Saltigo. Exchange-rate effects also had a positive impact. Despite a negative price effect from lower raw material prices, sales were up 2.8 percent at EUR 549 million as compared to the previous year’s figure of EUR 534 million. EBITDA pre exceptionals grew by 2.3 percent from EUR 87 million to EUR 89 million. The EBITDA margin pre exceptionals remained stable at 16.2 percent.

Despite weaker demand from the automotive industry and the termination of margin-dilutive toll manufacturing contracts, the Specialty Additivessegment developed positively in the third quarter. This was thanks to advantageous exchange-rate effects and strong business in the Polymer Additives business unit. Sales were on a par with the prior-year level at EUR 503 million. EBITDA pre exceptionals increased by 4.3 percent to EUR 97 million compared with EUR 93 million in the prior-year quarter. The EBITDA margin pre exceptionals rose to a strong 19.3 percent after 18.5 percent in the prior-year quarter.

The Performance Chemicals segment also performed better than in the prior-year quarter. As in the previous quarters, the business units with water-treatment and material-protection products posted strong growth. There were also positive exchange-rate effects. Weak chrome ore business in the Leather business unit continued to have a negative impact. Sales rose by 6.0 percent from EUR 334 million to EUR 354 million. At EUR 56 million, EBITDA pre exceptionals was 5.7 percent above the figure for the prior-year quarter (EUR 53 million). The EBITDA margin pre exceptionals remained stable at 15.8 percent.

In the Engineering Materials segment, sales and earnings continued to be hit by weaker demand from the automotive industry. Sales were also burdened by lower selling prices due to decreases in raw material prices. Despite advantageous exchange-rate effects sales fell by 10.4 percent from EUR 394 million to EUR 353 million. At EUR 59 million, EBITDA pre exceptionals was 15.7 percent down on the prior year’s figure of EUR 70 million. After 17.8 percent in the previous year, the EBITDA margin came to 16.7 percent.

EUR million		Q3 2018		Q3 2019		Change %		9M 2018		9M 2019		Change %
Sales		1,786		1,781		-0.3		5,431		5,413		-0.3
EBITDA pre exceptionals		277		267		-3.6		837		828		-1.1
EBITDA margin pre exceptionals		15.5%		15.0%				15.4%		15.3%
Net income1		80		69		-13.8		258		253		-1.9
Earnings per share (EUR)1		0.88		0.79		-10.2		2.82		2.85		1.1
Net financial liabilities2		2,252		1,381		-38.7		1,3813		1,786		29.3
Employees		15,283		15,441		1.0		15,4413		15,504		0.4

¹ Prior-year figures from continuing operations

² After deduction of time deposits and securities available for sale

³ Dec. 31, 2018.   ENDS