l Huntsman International LLC reported preliminary, unaudited total revenues and adjusted EBITDA, defined as net income before taxes, minority interest, cumulative effect of accounting change, interest expense, depreciation and amortization, of $1.006 billion and $20 million, respectively, for the three months ended Dec. 31, 2001 and $4.575 billion and $398 million, respectively, for the twelve months ended Dec. 31, 2001. Results for the three and twelve months ended Dec. 31, 2001 includes $45 million and $47 million, respectively, in one-time non-recurring plant closing and restructuring costs associated with the company’s specialty chemicals and tioxide segments.
For the three months ended Dec. 31, 2001, revenues in specialty chemicals rose 14% due primarily to $105 million in revenues attributable to the acquisitions of the European surfactants business from Rhodia S.A. in April 2001 and a performance chemicals business from Dow Chemical Company in Feb. 2001, according to the company. Revenues in the petrochemicals and Tioxide segments dropped 40% and 11%, respectively, due to lower average selling prices and sales volumes in both segments. These declines were primarily attributable to weak global economic conditions and lower underlying feedstock costs in petrochemicals, according to the company.
Revenues in the specialty chemicals businesses rose by 20% for the year and sales in the petro
Published August 10, 2005
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