05.02.19
Nouryon (formerly AkzoNobel Specialty Chemicals) reported growth in revenues and adjusted EBITDA in its full-year 2018 financial results.
Revenues were up two percent, reflecting price and product mix benefits, which was partially offset by slightly lower volumes. Excluding currency effects, revenues were up six percent.
Adjusted EBITDA was up four percent, mainly due to price/mix effects as well as productivity improvement programs.
"This is a solid set of results,” Nouryon CEO Charlie Shaver said. “We expect low single-digit growth in revenues to continue in 2019, reflecting the ongoing benefit of better product mix and pass-through of raw material prices. The EBITDA outlook is also positive, driven by price management and cost improvement programs.”
Highlights for 2018 included the successful launch of Nouryon following the acquisition of the company by The Carlyle Group and GIC in October and continuing investments in growth projects. These include an increase in Expancel microspheres production at Sundsvall, Sweden and a doubling of dicumyl peroxide capacity in Ningbo, China.
“We’ve had a great start to operating as a new standalone, focused specialty chemicals company and received a strong reception from customers,” Shaver said. “We are accelerating our growth plan to reach our full potential, leveraging our global footprint and product portfolio to capitalize on market growth. In addition, we will sharpen our focus on innovation and collaboration to provide the sustainable solutions that truly meet our customers’ needs.”
|
|
2017 |
2018 |
Change |
|
Revenue |
4,987 |
5,064 |
2% |
|
Adjusted EBITDA1 |
1,027 |
1,071 |
4% |
|
EBITDA margin (%) |
20.6% |
21.1% |
|
