Industry News

Huntsman Reports Second Quarter 2015 Results with Revenues of USD 2,740 Million

Published on 2015-08-05. Author : SpecialChem

THE WOODLANDS, TEXAS -- Huntsman Corporation reported second quarter 2015 results with revenues of USD 2,740 million and adjusted EBITDA of USD 385 million.

Peter R. Huntsman, President and CEO, commented:

“Our Performance Products and Advanced Materials businesses continue to demonstrate remarkable earnings. Combined, these businesses represent approximately 50% of our adjusted EBITDA; they have EBITDA margins of approximately 20% and low earnings volatility. Their EBITDA grew approximately 20% compared to the prior year and we have growth projects in place for these businesses that are expected to deliver an additional $100 million over the next couple of years.

Fig. 1: Huntsman

Notwithstanding EBITDA headwinds in the second quarter 2015 such as $49 million from foreign currency and $35 million from the extended maintenance outage at our Port Neches, TX facility, our earnings are growing. We are delivering on our announced restructuring savings and growth projects. Our aggressive efforts to deliver $200 million of synergy and restructuring savings within our Pigments and Additives division by the middle of 2016 are progressing on-time and according to plan.”

About Huntsman

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals with 2014 revenues of approximately $13 billion including the acquisition of Rockwood’s performance additives and titanium dioxide businesses. Its chemical products number in the thousands and are sold worldwide to manufacturers serving a broad and diverse range of consumer and industrial end markets. It operates more than 100 manufacturing and R&D facilities in more than 30 countries and employ approximately 16,000 associates within its 5 distinct business divisions.

Source: Huntsman Corporation

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