The Woodlands, Texas — Huntsman's total sales were $6.8 bn in 2019 down 10.6% on the previous financial year.
Adjusted EBITDA across the business fell by 27.1% and reached $846 m in 2019.
Lower prices weigh on Huntsman in 2019
Huntsman: 2019 transformative, 2020 headwinds
Revenue in the company' polyurethanes segment were down in 2019 compared to 2018. This was primarily due to lower MDI average selling prices. Excluding sales from tolling arrangements, by-products and raw materials, these were a down around 9%. Lower prices were partly offset by higher MDI volumes being sold in the year.
This meant sales in the company's Polyurethanes business fell 8.7% between 2018 and 2019. They reached $3.9 bn in 2019.
Adjusted EBITDA in the division fell 32.3% and reached $548 m in 2019.
Peter Huntsman is the company's CEO. He said that '2019 was a memorable year for Huntsman… the biggest [transaction] was the $2 bn divestiture of our Chemical Intermediates and Surfactants businesses.'
He said that deal 'significantly reduces our upstream footprint.' In early December we announced the agreement to acquire Icynene-Lapolla.'
The last deal doubles the size of Huntsman's spray foam business, he said.
In 2020 he said huntsman could invest in downstream and speciality businesses but 'economic headwinds remain as we enter the year making earnings growth more of a challenge.'
