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

Our Clients

Order Informer

 
Home > News >
 

Trinseo reports Q3 2015 financial results

November 23/2015

MOSCOW (MRC) -- Trinseo, a global materials company and manufacturer of plastics, latex and synthetic rubber, have reported its third quarter 2015 financial results with record net income of USD52 million and EPS of USD1.06 per diluted share, as per the company's report.

Additionally, results for the third quarter included Adjusted EPS of USD1.07 per diluted share, Adjusted EBITDA of USD116 million, and Adjusted EBITDA excluding inventory revaluation of USD144 million.

Commenting on the companys performance, Chris Pappas, Trinseo President and Chief Executive Officer, said, "After a very strong first half, Trinseo continued with strong results in the third quarter. We had net income of USD52 million and earnings per diluted share of USD1.06. Adjusted EBITDA excluding inventory revaluation of USD144 million in the third quarter was our second highest ever, and we had very strong free cash flow of USD95 million."

Revenue in the third quarter decreased 21% versus prior year due to the pass through of lower raw material costs, with the significant decline in the overall energy complex, and currency, as the euro weakened in comparison to the U.S. dollar.  Sequentially, revenue remained flat.

Third quarter Adjusted EBITDA of USD116 million included a USD28 million unfavorable impact from inventory revaluation. Adjusted EBITDA excluding inventory revaluation of USD144 million was USD82 million higher than prior year primarily due to higher margins in the Basic Plastics & Feedstocks division, including styrene monomer, styrenic polymers, and polycarbonate, as well as higher equity earnings from Americas Styrenics. Sequentially, Adjusted EBITDA excluding inventory revaluation was USD22 million higher due mostly to increased polycarbonate margins, the second quarter unfavorable impacts from price lag, and the planned Synthetic Rubber turnaround. These impacts were partially offset by lower styrene monomer margin and a decrease in equity earnings from Americas Styrenics.

As MRC wrote previously, Styron, the global materials company and manufacturer of plastics, latex and rubber, announced it has changed its name to Trinseo, effective February 1, 2015.

Trinseo is a leading global materials company and manufacturer of plastics, latex and rubber, dedicated to collaborating with customers to deliver innovative and sustainable solutions. Trinseos technology is used by customers in industries such as home appliances, automotive, building & construction, carpet, consumer electronics, consumer goods, electrical & lighting, medical, packaging, paper & paperboard, rubber goods and tires. Trinseo had approximately USD5.3 billion in revenue in 2013, with 19 manufacturing sites around the world, and approximately 2,100 employees.


mrcplast.com
Author:Margaret Volkova
Tags:PS, ABS, GPPS, SAN, styrene, HIPS, Trinseo (Styron).
Category:General News
|
| More

Leave a comment

MRC help

 


 All News   News subscribe