CSM: repositioning for profitable growthCSM increased net sales by 4.1% to � 3,112.6 million for the full year, mainly driven by price increases to compensate for the higher input costs. The tough trading environment witnessed in 2011, remained in place for the fourth quarter. The strong price increases did not yet fully cover the increased raw material costs, putting our margins under pressure. EBITA, excluding one offs, amounted to � 150.8 million for the full year. CSM presents its conclusions from its business review today. This will reposition CSM for profitable growth through reducing the cost base, simplifying the organization and reshaping the portfolio in Bakery Supplies and decreasing the financial dependency of Purac on Bakery Supplies.
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