London +4420 814 42225
Moscow +7495 543 9194
Kiev +38044 599 2950
info@mrcplast.com

Our Clients

Order Informer

 
Home > News >
 

Oxea reports record earnings for FY 2011

February 29/2012

(european-coatings) -- Oxea, announced on 27 February results for FY 2011. Net sales of EUR 1,479 million were up by 8 % and Adjusted EBITDA amounted to EUR 206 million reflecting an increase of 16 % from the corresponding period of the prior year. Strong cash generation during the year significantly improved Oxeas financial profile and further reduced net debt to ca. 1.7x Adjusted EBITDA from 2.2x in FY 2010.


After a very strong first half year of 2011 and a robust third quarter, Oxeas fourth quarter performance was affected by the continued softening of the world economy and destocking activities along the value chain in the entire industry. In a challenging macroeconomic environment, Oxeas fourth quarter revenues of EUR 328 million decreased moderately by 6.5 % compared to a strong Q4 2010. Adjusted EBITDA in Q4 was EUR 36 million compared to EUR 45 million in the prior year period.


Sales for the three months ended 31 December 2011 were EUR 328.4 million, a decrease of 6.5 % compared with the corresponding period of the prior year. Overall, volumes were 6.4 % lower than in the corresponding period of the prior year. Oxo Intermediates volumes and Oxo Derivatives were 7.1 % and 4.2 % lower respectively than the corresponding period of the prior year. Of our revenues for the three months ended 31 December 2011, EUR 141 million resulted from sales in Europe, EUR 109 million in North America and EUR 78 million in the rest of the world compared to EUR 183 million, EUR 103 million and EUR 65 million respectively in the prior year period.

mrcplast.com
Author:Anna Larionova
Tags:No
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe