Malmo, Sweden — Perstorp’s specialties and solutions division, which includes specialty polyols and the firm’s Capa business, had sales of SEK 785 m ($88m) in the first quarter of 2017, up 22% compared with SEK 662 m in the first quarter of 2016.
At the same time, earnings before interest taxation depreciation and amortisation fell by 3% to SEK 189 m, compared with SEK 196 m in the first quarter of 2016.
The company said that the strong volumes in the specialities and solutions division were hit by higher raw material prices. The higher level of net sales in the quarter was driven by higher volumes and a stronger SEK, which was partly offset by a negative product and customer mix.
The earnings figures, which were slightly below the 2016 quarter saw higher volumes, offset by weaker unit margins because of higher raw material prices, Perstorp said. It added that in 2017 benzene increased 64% in price compared to the first quarter of 2016.
Overall, the company saw sales of SEK 3.4 bn in the first quarter of 2017 compared to SEK 2.5 bn in the same period in 2016. Earnings across the company rose from SEK 422 m in the first quarter of 2016 to SEK 561 m in the first quarter of 2017.
Exchange Rates: Xe.com 10 May, 2017
