Home / Knowledge / News / Textiles / Specialty chemicals producer Huntsman books Q4 loss
Specialty chemicals producer Huntsman books Q4 loss
03
Mar '15
Specialty chemicals producer, Huntsman Corporation slipped in to a net loss in the fourth quarter ended December 31, 2014 as against positive net income in the same quarter of 2013.

In the fourth quarter of 2014, Huntsman said it posted a net loss of $38 million compared to net income of $41 million in the prior year period.

According to a press release, adjusted EBITDA in the reporting quarter totaled $292 million down from $313 million in the corresponding period of 2013.

“Pro forma for the Rockwood acquisition, our adjusted EBITDA was $300 million compared to $341 in the fourth quarter from the year earlier quarter,” it said.

“The decrease was primarily attributable to lower earnings in our Pigments and Additives division,” the specialty chemicals producer added.

As a consequence, adjusted diluted income per share was $0.33 in the quarter under review compared to $0.48 in the fourth quarter from 2013.

Huntsman suffered approximate negative foreign currency adjusted EBITDA impact of $11 million compared to the prior year period, from a stronger US dollar against major European currencies.

For the full year of 2014, adjusted EBITDA was $1,340 million compared to $1,213 million in 2013. Pro forma for the Rockwood acquisition, its adjusted EBITDA was $1,495 million from $1,323 in 2013.

Adjusted diluted income per share rose higher at $1.94 as against $1.61 in the prior year, an increase of 20 per cent.

Net income attributable to Huntsman Corporation was $323 million in the reporting year compared to $128 million in 2013.

CEO Peter Huntsman said, “2014 was a remarkable year for us; our differentiated businesses collectively increased their adjusted EBITDA by more than $200 million.”

“I am encouraged by the attractive growth profile of these businesses and expect them to perform even better in 2015,” he added.

According to the CEO, they are investing in growth projects that are expected to add more than $200 million of annual EBITDA over the next few years.

It is aggressively taking action to deliver $130 million of synergies as it integrates the businesses, it purchased from Rockwood this past October.

In addition, Huntsman recently took action to rationalise its European titanium dioxide capacity with expected EBITDA benefits of approximately $35 million.

Huntsman Corporation is a publicly traded global manufacturer and marketer of differentiated chemicals and operates more than 100 manufacturing and R&D facilities in more than 30 countries. (AR)

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Indorama Ventures

Textiles | On 17th Jan 2018

IVL, Huvis to enter JV for Low Melting Fibre plant in US

Indorama Ventures Limited (IVL), a global chemical producer, and...

Future Group to set up garment manufacturing in Bengal

Apparel/Garments | On 17th Jan 2018

Future Group to set up garment manufacturing in Bengal

Kishore Biyani-led Future Group is going to set up a garment...

Courtesy: Messe Frankfurt

Textiles | On 17th Jan 2018

Intertextile Shanghai to discuss opportunities in Asia

The spring edition of Intertextile Shanghai Apparel Fabrics will...

Interviews View All

Amrit Sethia
SOIE

‘The intimatewear category in India is slowly becoming trend-sensitive.’

Marazban F Velati
Sutlej Textiles & Industries limited

No training can be effective till the candidate believes in it.

Top executives
Textile & apparel bodies

The mid-term review of FTP is progressive, growth oriented

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Erik Sy

Manila-based CustomThread is a start-up offering premium custom apparel...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


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