Home / Knowledge / News / Textiles / Sales slip at Axiall in Q2 from outage at PHH VCM facility
Sales slip at Axiall in Q2 from outage at PHH VCM facility
08
Aug '14
Axiall Corporation, a leading integrated chemicals producer reported lower net sales of $1,236.9 million for the second quarter of 2014 against $1,272.8 million in the comparable quarter of 2013, mainly due to lower ECU values and the unplanned outage at its PHH VCM facility.

However, attributable net income plunged to $27.2 million, or $0.38 diluted earnings per share in the quarter under review from $72.8 million, or $1.03 diluted earnings per share reported in second quarter of 2013.

Adjusted net income too slipped massively to $33.5 million and adjusted earnings per share were $0.48 compared to adjusted net income of $84.0 million and adjusted earnings per share of $1.19 in the second quarter of 2013.

It reported adjusted EBITDA of $128.1 million in second quarter of 2014 against adjusted EBITDA of $197.9 million for the prior year second quarter.

In the chlorovinyls segment, second-quarter 2014 net sales were $777.9 million compared to $801.8 million during the second quarter of 2013. It said, the 3 percent decrease was principally due to substantially lower ECU pricing and lower sales volumes due to the PHH VCM facility outage.

The PHH VCM facility returned to full service at the end of June 2014.

The segment posted adjusted EBITDA of $121.6 million in the second quarter of 2014, compared to adjusted EBITDA of $177.6 million for the same quarter in the prior year.

In the aromatics segment, net sales decreased to $215.2 million for the second quarter of 2014 from $226.5 million for the second quarter of 2013. During the second quarter of 2014, the segment recorded adjusted EBITDA of negative $7.0 million, compared to adjusted EBITDA of $4.6 million during the same quarter in 2013.

Axiall said the decrease in sales and adjusted EBITDA were primarily due to lower export sales volumes of phenol driven by significant new phenol capacity additions in Asia during 2013, which also resulted in lower domestic cumene sales volume.

“Our second-quarter results were primarily impacted by lower ECU values and the unplanned outage at our PHH VCM facility,” President and CEO Paul Carrico said.

“In our Building Products segment, we experienced a normal seasonal increase in sales volumes but continued to see weaker Canadian sales and the impact of a weaker Canadian dollar during the period. Additionally, our Aromatics results are lower than the second quarter of 2013 due to lower operating rates and lower margins.”

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Mikes Photos from Pexels

Apparel/Garments | On 17th Oct 2018

Bangladesh garment exports swell 14.66% in Q1 FY19

Readymade garment exports from Bangladesh increased by 14.66 per cent ...

Courtesy: WTO

Textiles | On 17th Oct 2018

WTO rejects Panama claim for $210-mn sanctions on Columbia

A World Trade Organisation (WTO) panel recently rejected Panama’s...

India ranks 147th in Oxfam world inequality index

Textiles | On 17th Oct 2018

India ranks 147th in Oxfam world inequality index

India has been ranked 147th among 157 countries in a new worldwide...

Interviews View All

Karan Suratwala, Key Textile Accessories Private Limited

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Top executives, Textile industry

Top executives
Textile industry

The foremost issue is bridging the skill gap

Evelyne Cholet, UCMTF

Evelyne Cholet
UCMTF

‘France had a reputation of being big in new ideas, but poor in marketing...

Harsh Shah,

Harsh Shah

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

Ravi Raj Desai,

Ravi Raj Desai

Himalaya Cotton Yarn Ltd manufactures high quality denier. The spinning...

Harsh Shah,

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Urs Stalder, Sanitized AG

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Matthew Kolmes, Supreme Corporation

Matthew Kolmes
Supreme Corporation

Supreme Corporation manufactures innovative specialty yarns and safety...

Sonam & Paras Modi, SVA

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Jay Ramrakhiani, Occasions Elegance Wear

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Tony Ward, Tony Ward

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

Leave your Comments


October 2018

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

news category


Related Categories:

Advanced Search