Stahl keep running: following Basf buyout, revenues went up by 3,9% in nine months; +5,8% in the last quarter

Stahl’s expansion keeps going. In fact, in 2018 third quarter the German company, specialised in the manufacturing of chemicals for tanneries, reached a considerable turnover, 69,8 million euros, which increased by 5,8% compared to 2017 same period. In other words, revenues went up by 3,9% in the last nine months, as they amounted to 206 million euros. Such brilliant turnover was remarkably driven by Germany, whose market enjoyed a boost by 27,6% in the quarter (that is, 19,5 million euros) and by 22,8% in nine months (that is, 54,5 million euros). In contrast to this positive trend, in the rest of Europe and Africa sales dropped by 6,1%, therefore going down to 28,9 million euros. Very good news from the US market, which proved to be very rewarding again: in fact, quarterly earnings increased by 24%, up to 8,1 million euros, mostly thanks to the new branch recently opened by Stahl in the United States. Asian business has been running steadily: from July to September the company’s turnover accounted for 13,3 million euros. Apparently, such notable performance has been also driven, overall, by Basf, whose tanning chemical unit was completely bought out by Stahl in October 2017. Both the manufacturing site, located in L’Hospitalet (Spain), and Basf’s 210 employees were involved in the acquisition deal.

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