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Oxiteno's operating income down 13% on lower volumes

5:38 AM MDT | August 7, 2014 | Francinia Protti-Alvarez

Oxiteno, the chemical subsidiary of Ultrapar (São Paulo), generated 63.7 million reais ($27.9 million) in operating income during the second quarter, down almost 13% year-on-year (YOY), according to Ultrapar's latest results. Oxiteno’s Ebitda was R$98 million during the quarter, down 8% YOY, mainly due to lower sales volumes. Oxiteno's second-quarter sales also slipped 1% YOY, to R$813 million, due to lower sales volumes, offset by an 8% weaker Brazilian currency. But net sales and services totaled R$1.65 billion in the first half of the year, up 5%...

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