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INEOS Q3 EBITDA grows 25% as chemical market improves

October 27/2010

(ICIS) -- INEOS"s third-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) grew 24.9% year on year to ?406m ($564m), excluding refinery inventory holding losses, thanks to a continuation of improved demand for chemicals, the Swiss-headquartered company said late on Monday.


Demand for chemical intermediates has continued to be strong across all sectors and all regions. The market for acrylonitrile has been very tight and high margins have been maintained, INEOS said in a statement.

 

Underlying demand for oligomers continued to improve in the quarter. The oxide business continued to benefit from strong demand for its derivative products, it added.


Demand for polypropylene continues to be strong and domestic demand for polyethylene continues to recover, especially in the automotive, injection moulding and speciality packaging sectors, INEOS said.


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INEOS Q3 EBITDA grows 25% as chemical market improves
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