Oxea Reports Lower Net Sales and Profits

Oxea (Oberhausen, Germany) says net sales and net profits for the fourth quarter of 2011 decreased 6.5% and 64% year over year, to €328.4 million ($440 million) and €8.7 million, respectively. Adjusted Ebitda also decreased 21% in fourth-quarter 2011, to €35.5 million compared with €44.9 million in the previous-year period, Oxea says. The company's sales volumes were 6.4% lower in fourth-quarter 2011 compared with the corresponding period of 2010 due to production outages, it says. The slowdown of the world economy, destocking...

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