Malmo, Sweden – Polyols maker Perstorp generated 27% less EBITDA in the second quarter of 2020 than in the 2019 quarter. Its sales in the period were down by 32%, according to preliminary figures released by the company.
‘It was a very special quarter, marked by a pandemic with a global impact none of us have experienced before,’ said CEO Jan Secher. ‘Although the most intense period now seems to have transformed into a period with unprecedented low visibility and a high degree of uncertainty, the effects of coronavirus pandemic are likely to characterise society and our business for a significant time ahead.’
Demand slowed in the second quarter, with the largest volume losses in the Americas, smaller losses in Europe and some recovery in APAC. Sales were SEK 3.1bn ($344m), and volumes were down 22% because of coronavirus lockdowns.
The speciality polyols business was hit by shutdowns. However, the company improved margins for most product lines, and there was a more favourable product mix.