Ineos Reports Higher Quarterly Earnings

Ineos says that, "based on unaudited management information," the company's historical cost Ebitda (HC Ebitda) was €726 million in the first quarter of 2011, up from €494 million in the same period of 2010 and €270 million in the fourth quarter of 2010. The HC Ebitda figure includes refining inventory holding gains of €136 million, reflecting the movement in crude oil prices over the period. Combined replacement cost Ebitda for refining and historical cost Ebitda for chemicals (RC/HC Ebitda) was €590 million in the first...

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