Chemical Week Magazine :: Newsbriefs
Ineos Reports Decrease in Second-Quarter Earnings
8:37 AM MDT | August 20, 2012
Ineos says that, â€śbased on unaudited management information,â€ť the companyâ€™s Ebitda was â‚¬308 million ($380 million) in the second quarter of 2012, down from â‚¬576 million in the year-earlier quarter and â‚¬465 million in the previous quarter. Sales were not disclosed. The comparisons exclude the companyâ€™s refining business, which it divested in July 2011. â€śAfter a fairly strong April, the impact of steeply declining oil prices during the quarter adversely affected May and Juneâ€™s historical cost results,â€ť Ineos says. â€śNoncash inventory holding...
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