Malmo, Sweden – Polyols producer Perstorp had total net sales of SEK 2.7 bn ($247m) in the first quarter of 2020, down 15.48% on the same period last year.
EBITDA across the business rose 1.5% and reached SEK 419m in the first quarter of 2020.
Perstorp sales down 15.5% in Q1
Secher: high degree of uncertainty
The company's various business areas are delivering stable results, according to CEO Jan Secher. Sales were lower because prices and volumes fell in the quarter. The weaker Swedish krona helped to offset this. The lower exchange rate and cost reductions helped EBITDA across the business.
In the company's speciality polyols & solutions business, net sales fell by 17.9% between the first quarter 2019 and the first quarter of 2020, to SEK 1.5bn. This compares with SEK 1.85 bn in the equivalent period in 2019.
EBITDA in the division rose by 3.5% to SEK 322m in the first quarter of 2020. This compares with SEK 311m in the 2019 period.
'Despite the coronavirus situation, supply of raw material, production and delivery to our customers have during the first quarter worked well,' Secher said. 'Due to the high degree of uncertainty, it is still too early to estimate the financial impacts on Perstorp from coronavirus.'
