The Woodlands, Texas - Huntsman saw sales in its polyurethane division fall slightly in the second quarter of 2013 compared to the same period in 2012, the company said. This was due partly due to a loss of production.
In the polyurethane business, revenues fell $16m from $1,262m to $1,246m in the second quarter of 2013 compared to 2012 due to a change in the mixture of products sold. This was offset by slightly higher sales prices. In the first half of 2013, sales were down by $43m $2428m compared with $2475m in the same quarter in 2012.
MDI (methylene diphenyl diisocyanate) sales volumes fell in Europe as a result of the force majeure at our MDI facility in Rotterdam, The Netherlands. The European fall was partially offset by increased sales volumes in the Americas and Asia Pacific regions, said Huntsman.
In the 2013 quarter PO/MTBE sales volumes were essentially unchanged from the 2012 quarter, Huntsman said. MDI average selling prices increased in all regions in the second quarter of 2013 primarily in response to higher raw material costs. PO/MTBE average selling prices decreased primarily due to less favourable market conditions. Adjusted EBITDA was unchanged as increased PO/MTBE earnings offset the impact of the force majeure at our MDI facility in Rotterdam, The Netherlands.
Polyurethane earnings before interest, tax, amortisation and depreciation was unchanged between 2012 and 2013 second quarters at $174m. In the first half of 2013 profitability was $353m little changed from the first half of 2012.
