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Huntsman reports 1Q 2016 results
FOCUS
COMPANY RESULTS Huntsman reports 1Q 2016 results Huntsman Corp has reported its 1Q 2016 results with revenues of $2355 M and adjusted EBITDA of $274 M, compared to adjusted EBITDA of $285 M in 1Q 2015 and $240 M in 4Q 2015. Net income attributable to Huntsman was $56 M compared to $5 M in 1Q 2015 and $4 M in 4Q 2015. The stronger US dollar reduced adjusted EBITDA by an estimated $19 M compared to 1Q 2015. Free cash flow generation improved by $34 M compared to 1Q 2015. In the Performance Products division, the decrease in revenues for 1Q 2016 compared to the same period in 2015 was primarily due to lower average selling prices, partially offset by higher sales volumes. Average selling prices decreased in response to lower raw material costs and the foreign currency exchange impact of a stronger US dollar primarily against the euro. Sales volumes increased chiefly due to higher volumes of ethylene oxide intermediates, partially offset by lower volumes for amines and maleic anhydride. Original Source: Huntsman, 28 Apr 2016 (Website: http://www.huntsman.com/) © Huntsman International LLC 2016
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S U R FAC TA N T S
Savings programme allows P&G to shine Savings measures have meant a strong rise in profits for Procter & Gamble. Profits in the company's 3Q (1Q of calendar 2016) were up around 28% on a year earlier at $2.75 bn. Higher selling prices meant the company was able to more than compensate for negative currency effects. Sales in the quarter were down 7% at $15.76 bn. Sales volumes were down 2%. The fall was blamed on weak demand for cosmetics and health products. Original Source: Handelsblatt Wirtschafts- und Finanzzeitung, 26 Apr 2016, (Website: http://www. handelsblatt.com) (in German) © Verlagsgruppe Handelsblatt GmbH & Co KG 2016
Akzo Nobel publishes results for 1Q 2016 Akzo Nobel reports higher volume sales for all 3 divisions in 1Q 2016 despite a difficult market environment. Its operating result rose by 17% to €357 M and operating profit increased by 9% to €334 M. Turnover fell by 4% in 1Q 2016 as higher volume sales were offset by negative currency exchange rate effects and divestments. Net profits increased by 50%. The company achieved higher sales in Asia and Europe but recorded a downturn in Latin America. Original Source: Farbe und Lack (Online Version), 21 Apr 2016, (Website: http://www. farbeundlack.de/) (in German) © Vincentz Network 2016
Price rises help Unilever Consumer goods giant Unilever has profited from price rises at the start of 2016. Sales adjusted for special factors were up 4.7% in 1Q 2016, despite the difficult conditions. Higher sales volumes also contributed. Currency fluctuations meant that sales fell 2% overall to €12.5 bn. Sales in emerging markets were up 8.3%, but those in saturated markets were down 0.3%. The company is sticking to its full-year forecast, but business in emerging countries (these account for more than half the sales) will become more difficult. Original Source: Handelsblatt Wirtschafts- und Finanzzeitung, 14 Apr 2016, (Website: http:// www.handelsblatt.com) (in German) © Verlagsgruppe Handelsblatt GmbH & Co KG 2016. Original Source: Chemie Aktuell, 14 Apr 2016, (Website: http://www.maerkte-weltweit. de) (in German) © MBM Martin Brueckner Medien GmbH 2016
June 2016
COMPANY NEWS Croda opens new distribution centre in Brazil Croda Brazil, part of Croda International Plc, has opened a new distribution hub close to its production facility in Campinas, Brazil. The centre has double storage capabilities and will lower response periods by up to 24 hours. At a cost of nearly R$4 M (€1.1 M), this investment is part of a five-year plan to meet the growing demands of its customers, both in Brazil and across Latin America. Original Source: Croda, 2016. Found on SpecialChem Cosmetics and Personal Care
Innovation and Solutions, 7 Apr 2016, (Website: http://www.specialchem4cosmetics. com)
Barentz to market Innospec’s home and personal care ingredients Dutch distributor Barentz International has been chosen to distribute Innospec's actives for home and personal care in the Benelux countries, the Czech Republic, Bulgaria, Romania, Poland and Russia. The long-term distribution deal includes the Chemsil speciality silicone line, performance blends and mild surfactants, among others. Original Source: Speciality Chemicals, Apr 2016, 36 (4), (Website: http://www. specchemonline.com) © Quartz Chemicals Ltd 2016
Evonik reportedly interested in Air Products materials technologies division According to anonymous sources cited by Reuters, Evonik could be interested in buying Versum Materials, the materials technologies division that Air Products is planning to place on the stock exchange as an independent entity ['Focus on Surfactants', Nov 2015]. The acquisition could cost Evonik $3.5 bn. In 2015 Versum made sales of $2.096 bn. Its strong presence on the performance materials and electronics chemicals markets could improve Evonik's portfolio and reduce its exposure to economic cycles. Reuters' sources claim that negotiations between Evonik and Air Products are at an advanced stage but no decision has been announced. Original Source: Chimie Pharma Hebdo, 29 Mar 2016, (754), (Website: http://www. industrie.com/chimie/) (in French) © ETAI Information 2016
Discovery Labs changes name Discovery Laboratories Inc, a biotechnology company focused on developing aerosolized KL4 surfactant therapies for respiratory diseases, has changed its corporate name to Windtree Therapeutics Inc and will trade under the Nasdaq symbol 'WINT' effective at market open on 19 Apr 2016. Original Source: Discovery Laboratories Inc, 2016. Found on PR Newswire, 18 Apr 2016, (Website: http://www.prnewswire.com)
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COMPANY RESULTS Huntsman reports 1Q 2016 results Huntsman Corp has reported its 1Q 2016 results with revenues of $2355 M and adjusted EBITDA of $274 M, compared to adjusted EBITDA of $285 M in 1Q 2015 and $240 M in 4Q 2015. Net income attributable to Huntsman was $56 M compared to $5 M in 1Q 2015 and $4 M in 4Q 2015. The stronger US dollar reduced adjusted EBITDA by an estimated $19 M compared to 1Q 2015. Free cash flow generation improved by $34 M compared to 1Q 2015. In the Performance Products division, the decrease in revenues for 1Q 2016 compared to the same period in 2015 was primarily due to lower average selling prices, partially offset by higher sales volumes. Average selling prices decreased in response to lower raw material costs and the foreign currency exchange impact of a stronger US dollar primarily against the euro. Sales volumes increased chiefly due to higher volumes of ethylene oxide intermediates, partially offset by lower volumes for amines and maleic anhydride. Original Source: Huntsman, 28 Apr 2016 (Website: http://www.huntsman.com/) © Huntsman International LLC 2016
ON
S U R FAC TA N T S
Savings programme allows P&G to shine Savings measures have meant a strong rise in profits for Procter & Gamble. Profits in the company's 3Q (1Q of calendar 2016) were up around 28% on a year earlier at $2.75 bn. Higher selling prices meant the company was able to more than compensate for negative currency effects. Sales in the quarter were down 7% at $15.76 bn. Sales volumes were down 2%. The fall was blamed on weak demand for cosmetics and health products. Original Source: Handelsblatt Wirtschafts- und Finanzzeitung, 26 Apr 2016, (Website: http://www. handelsblatt.com) (in German) © Verlagsgruppe Handelsblatt GmbH & Co KG 2016
Akzo Nobel publishes results for 1Q 2016 Akzo Nobel reports higher volume sales for all 3 divisions in 1Q 2016 despite a difficult market environment. Its operating result rose by 17% to €357 M and operating profit increased by 9% to €334 M. Turnover fell by 4% in 1Q 2016 as higher volume sales were offset by negative currency exchange rate effects and divestments. Net profits increased by 50%. The company achieved higher sales in Asia and Europe but recorded a downturn in Latin America. Original Source: Farbe und Lack (Online Version), 21 Apr 2016, (Website: http://www. farbeundlack.de/) (in German) © Vincentz Network 2016
Price rises help Unilever Consumer goods giant Unilever has profited from price rises at the start of 2016. Sales adjusted for special factors were up 4.7% in 1Q 2016, despite the difficult conditions. Higher sales volumes also contributed. Currency fluctuations meant that sales fell 2% overall to €12.5 bn. Sales in emerging markets were up 8.3%, but those in saturated markets were down 0.3%. The company is sticking to its full-year forecast, but business in emerging countries (these account for more than half the sales) will become more difficult. Original Source: Handelsblatt Wirtschafts- und Finanzzeitung, 14 Apr 2016, (Website: http:// www.handelsblatt.com) (in German) © Verlagsgruppe Handelsblatt GmbH & Co KG 2016. Original Source: Chemie Aktuell, 14 Apr 2016, (Website: http://www.maerkte-weltweit. de) (in German) © MBM Martin Brueckner Medien GmbH 2016
June 2016
COMPANY NEWS Croda opens new distribution centre in Brazil Croda Brazil, part of Croda International Plc, has opened a new distribution hub close to its production facility in Campinas, Brazil. The centre has double storage capabilities and will lower response periods by up to 24 hours. At a cost of nearly R$4 M (€1.1 M), this investment is part of a five-year plan to meet the growing demands of its customers, both in Brazil and across Latin America. Original Source: Croda, 2016. Found on SpecialChem Cosmetics and Personal Care
Innovation and Solutions, 7 Apr 2016, (Website: http://www.specialchem4cosmetics. com)
Barentz to market Innospec’s home and personal care ingredients Dutch distributor Barentz International has been chosen to distribute Innospec's actives for home and personal care in the Benelux countries, the Czech Republic, Bulgaria, Romania, Poland and Russia. The long-term distribution deal includes the Chemsil speciality silicone line, performance blends and mild surfactants, among others. Original Source: Speciality Chemicals, Apr 2016, 36 (4), (Website: http://www. specchemonline.com) © Quartz Chemicals Ltd 2016
Evonik reportedly interested in Air Products materials technologies division According to anonymous sources cited by Reuters, Evonik could be interested in buying Versum Materials, the materials technologies division that Air Products is planning to place on the stock exchange as an independent entity ['Focus on Surfactants', Nov 2015]. The acquisition could cost Evonik $3.5 bn. In 2015 Versum made sales of $2.096 bn. Its strong presence on the performance materials and electronics chemicals markets could improve Evonik's portfolio and reduce its exposure to economic cycles. Reuters' sources claim that negotiations between Evonik and Air Products are at an advanced stage but no decision has been announced. Original Source: Chimie Pharma Hebdo, 29 Mar 2016, (754), (Website: http://www. industrie.com/chimie/) (in French) © ETAI Information 2016
Discovery Labs changes name Discovery Laboratories Inc, a biotechnology company focused on developing aerosolized KL4 surfactant therapies for respiratory diseases, has changed its corporate name to Windtree Therapeutics Inc and will trade under the Nasdaq symbol 'WINT' effective at market open on 19 Apr 2016. Original Source: Discovery Laboratories Inc, 2016. Found on PR Newswire, 18 Apr 2016, (Website: http://www.prnewswire.com)
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