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INEOS Q1 EBITDA down 19.4% year on year but up sharply from Q4

April 18/2012

(ineos) -- INEOS Group Holdings S.A.  confirms a significant improvement in trading in the first quarter of 2012.

Based on unaudited management information INEOS reports that EBITDA for the first quarter of 2012 was EUR465 million, compared to EUR577 million for Q1, 2011 and EUR190 million for Q4, 2011. Comparative information excludes the results of the Refining business, which was disposed of in July 2011.

Chemical Intermediates reported EBITDA of EUR233 million compared to EUR290 million in Q1, 2011. Chemical Intermediates experienced an improvement in performance in the quarter with solid demand across most sectors, which enabled the pass through of the recent increases in raw material prices.

The Phenol business reported a record quarter with good demand and a constrained supply situation (partially due to a heavy industry turnaround schedule) leading to healthy margins. The Oligomers business has experienced strong demand and healthy margins in all sectors.

Volumes and margins for the Nitriles business are now improving after a weak fourth quarter. The Oxide business had a mixed performance for the quarter with good EO demand in Europe partially offset by a weaker MEG market in Asia due to softer polyester demand.

 

mrcplast.com

Author:Marina Ivanova
Tags:Ineos Polyolefins.
Category:General News
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