The Woodlands, Texas — Huntsman generated sales of $6 bn in 2020. This is down 11.5% on the previous financial year.
Huntsman's sales fell 11.5% in 2020
Adjusted EBITDA across the business fell by 23.5% to $647m in 2020. This compares with $846m in 2019, a fall of $199 m
CEO Peter Huntsman said he was very pleased to report that the company had exceeded its expectations, despite a very challenging 2020. ‘Our balance sheet remains very strong,’ he said. ‘While we are prepared for uncertainty to continue in 2021, we see steady improvements over 2020 in most of our core markets.'
Sales in the company's polyurethanes business sales fell by 8.4% to $3.6bn in 2020. Adjusted EBITDA across in the division declined by 13.9% $472m.
Commenting on the fourth quarter, Huntsman said revenue grew in the quarter because of higher MDI prices, but unplanned outages at suppliers hit sales. The higher prices fed into EBIDTA for the division in the quarter.