(bizjournals) -- Oxea, a leading
global supplier of Oxo Intermediates and Oxo Derivatives, today announced a
significant earnings increase for the first quarter of 2012 compared to the
fourth quarter of 2011. Net sales of EUR372 million were up by 13% and Adjusted
EBITDA amounted to EUR45million reflecting an increase of 25% from the fourth
quarter of 2011.
After a challenging fourth quarter of 2011 which was
affected by the softening of the world economy and destocking activities along
the value chain in the entire industry, Oxea was able to significantly increase
revenues and EBITDA during the first quarter of 2012. This positive trend was
recognized across the entire product portfolio.
Despite the difficult
macroeconomic environment still affected by the financial turbulence stemming
from the European debt crisis, Oxea's Adjusted EBITDA of EUR45 millionclearly
outperformed the expectations for the first quarter of 2012.