Huntsman sales down 30% in H1 2019

The Woodlands, Texas — Huntsman had group sales of $4.2bn in the first half of 2019. This is lower by 30% than the same period in 2018.

Adjusted EBITDA across the business declined 87% and hit $575m in the first half of 2019.

The company's Polyurethanes business sales shrank 10.7% between the first half of 2018 and 2019. They reached $2.3bn in the first half of 2019. This compares with $2.5bn in the first half of the same period last year.

During the second quarter, higher volumes sales of MDI could not compensate for the lower prices for component MDI in China and Europe. Huntsman said that volumes were higher because the MDI joint venture plant with BASF in China was fully on stream. It added that buying Demiliec in the second quarter of 2108 helped the numbers.

Over the whole of the first half, adjusted EBITDA in the Polyurethanes business shrank by 35.7%. It hit $341m the first half of 2019. This compares with $530m in the 2018 period.

Peter Huntsman said that overall he was 'pleased with the resilience of our downstream portfolio. We will continue to control our costs, protect our margins and focus on maintaining a strong balance sheet.'