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Ineos Reports Decrease in Second-Quarter Earnings

8:37 AM MDT | August 20, 2012

Ineos says that, “based on unaudited management information,” the company’s Ebitda was €308 million ($380 million) in the second quarter of 2012, down from €576 million in the year-earlier quarter and €465 million in the previous quarter. Sales were not disclosed. The comparisons exclude the company’s refining business, which it divested in July 2011. “After a fairly strong April, the impact of steeply declining oil prices during the quarter adversely affected May and June’s historical cost results,” Ineos says. “Noncash inventory holding...

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