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Ineos announces financial results for Q2

by ChemOrbis Editorial Team -
  • 26/07/2017 (18:04)
According to a release on the company’s website, Ineos’s earnings before interest, taxes, depreciation and amortization (EBITDA) was €638 million ($743 million) in the second quarter of this year. On a yearly basis, it increased by 12%, although it was down by 15% from the previous quarter’s EBITDA at €753 million.

Ineos attributed the yearly gains to stronger market conditions in North America, Europe and Asia. The company stated that overall demand, especially for polymers, remained strong throughout the second quarter.

O&P North America reported EBITDA of €227 million, slightly up by 1% on a yearly basis. Healthy margins, high operating rates and strong polymer demand helped better results in the US. Meanwhile, O&P Europe’s EBITDA was up more considerably by 10% on a yearly basis to €210 million. Demand for olefins was strong in Europe throughout the quarter due to tight supplies, boosting high margins for the producer. European polymer demand was also deemed strong, contributing to the yearly gain in profits.
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