MOSCOW (MRC) -- Ineos Group Holdings S.A. announced its trading performance for the first quarter of 2017, said the company on its site.
Based on unaudited management information INEOS reports that EBITDA for the first quarter of 2017 was a record EUR753 million, compared to EUR554 million for Q1, 2016 and EUR559 million for Q4, 2016.
North American markets have continued to be strong, taking full benefit from their current feedstock advantage. Market conditions in Europe have remained good, supported by the continued weakness of the Euro. In addition, markets in Asia have seen some strength in the quarter.
O&P North America reported EBITDA of EUR284 million compared to EUR229 million in Q1, 2016. The business has continued to benefit from its flexibility to be able to utilise cheaper NGL feedstocks to maintain healthy margins. The US cracker business environment was solid with healthy margins and high operating rates throughout the quarter. Polymer demand was strong, with balanced markets and high margins.
O&P Europe reported EBITDA of EUR221 million compared to EUR175 million in Q1, 2016. Demand for olefins in the quarter was solid in a tight market with top of cycle margins. Butadiene prices in particular have remained elevated throughout the quarter. European polymer demand was firm in a balanced market, with solid volumes and high margins in the quarter.
Chemical Intermediates reported EBITDA of EUR248 million compared to EUR150 million in Q1, 2016.
As MRC informed earlier, INEOS Group Ltd. is considering expansion of its plants in USA to take advantage of low-cost natural-gas liquids as feedstock for ethylene production.
INEOS Group Limited is a privately owned multinational chemicals company consisting of 15 standalone business units, headquartered in Rolle, Switzerland and with its registered office in Lyndhurst, United Kingdom. It is the fourth largest chemicals company in the world measured by revenues (after BASF, Dow Chemical and LyondellBasell) and the largest privately owned company in the United Kingdom.
MRC