The Woodlands, Texas —Huntsman sales were down 12% in 2015 compared to 2014 to $10.3bn (EUR 9bn) overall,while the polyurethane business' sales were $3.8bn in the year down 24% on 2015.
The polyurethane business earnings before interest, tax, depreciation and amortisation (EBITDA) were $533m, down 21% from the $722m recorded in 2014. The biggest effect on the polyurethane business was due to currencies, which accounted for 19% of the reduction. Volume affects accounted for a further 3% drop and, an improved product mix helped to reduce these effects.
Turning to the fourth quarter of 2015, Huntsman said the decrease in sales in the quarter was due to lower selling prices as the oil price fell and the currency exchange impact of a stronger dollar against the Euro. MDI sales increased in the quarter because of "higher demand as well as competitor outages in the Asian region," he said.