Home / Knowledge / News / Textiles / Huntsman Q4'13 adjusted EBITDA climbs 28%
Huntsman Q4'13 adjusted EBITDA climbs 28%
13
Feb '14
Huntsman Corporation reported fourth quarter 2013 results with revenues of $2,705 million and adjusted EBITDA of $313 million. 
 
Fourth Quarter 2013 Highlights
-Record Adjusted EBITDA of $313 million, an improvement of 28% compared to the prior year period.
-Adjusted diluted income per share was $0.48 compared to $0.28 in the prior year period.
-Net income attributable to Huntsman Corporation was $41 million compared to net loss of $40 million in the prior year period.
 
Full Year 2013 Highlights
-Adjusted EBITDA was $1,213 million compared to $1,439 million in the prior year period.  The decrease was primarily attributable to lower earnings in our Pigments division and lower PO/MTBE earnings which benefitted from industry supply outages in 2012. -Adjusted diluted income per share was $1.61 compared to $2.40 in the prior year period.
-Net income attributable to Huntsman Corporation was $128 million compared to net income of $363 million in the prior year period.
 
Peter R. Huntsman, our President and CEO, commented:
“Our Adjusted EBITDA of $313 million was a fourth quarter record.  With the notable exception of PO/MTBE, we saw broad improvements in earnings across our businesses in the fourth quarter compared to the prior year.  Aggressive self-help measures that have re-focused our efforts on key markets and lowered our costs are yielding benefits to the bottom line. These restructuring efforts are expected to contribute an additional approximate $60 million of future EBITDA.
 
“We expect to close on the acquisitio n of Rockwood Holdings’ Performance Additives and Titanium Dioxide businesses during the first half of 2014 and remain confident in our ability to deliver synergies of $130 million.  Antitrust review in the U.S. is complete and we are making positive strides as it relates to the European Union review.
 
“We are investing for long term growth and are progressing well with the previously disclosed projects that will further increase our future EBITDA by nearly $200 million.  We are enthused by the positive developments taking place within our business and look forward to delivering further value.”
 

Huntsman


Must ReadView All

Courtesy: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Abhishek Samdaria
Reflete

GST will certainly reduce a lot of paperwork in future

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Marcel Alberts
Eurofibers

Coating at a fibre level is a practice not usually seen in the...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
July 2017

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search