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LyondellBasell Industries announced net income for the fourth quarter 2010 of $874 million

February 18/2011

(LyondellBasell) -- LyondellBasell Industries announced net income for the fourth quarter 2010 of $874 million, or $1.54 per share.  Fourth-quarter 2010 EBITDA was $762 million, excluding a reversal of $323 million of non-cash Lower of Cost or Market (LCM) inventory charges.  Sales in the fourth quarter were $10,610 million, an increase of 20 percent from the prior year period.  For the full year 2010, EBITDA was $4,035 million excluding a $42 million LCM charge.


During 2010, business conditions and results improved across the vast majority of our portfolio, most notably in the Olefins & Polyolefins and propylene oxide businesses.  Improved worldwide demand and industry supply disruptions contributed to improved results.


The fourth quarter was impacted by seasonally lower volumes and margins in the oxyfuels and polyolefins businesses, rising olefins feedstock costs in Europe, and one-time events.


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