Northfield, Illinois — Stepan Co’s sales increased 11% over the final quarter of 2013 from $474m in 2012 to $427 in 2013, according to its latest financial report.
Almost a quarter of the company’s Q4 revenue came from its polymers segment, 72% was from sales of surfactants while the remaining income came from specialty product sales, according to the report.
The increase in sales over the full year was 4% based on a net sales figure of $1.80bn in 2012 to $1.88bn over 2013, said the report
Polymer sales increased 19% for the quarter and 8% for the full year, said the release adding that “without the North American polyester resin acquisition from Bayer, increases would have been 10% and 3% respectively.”
For the full year, despite continued general economic headwinds, European polyol volumes grew by 16%, in large part due to new business and market growth in metal panels and CASE said the report.
North American sales of the polyols used in rigid foam roof insulation remained “flat" said the report and phthalic anhydride volumes were down 6% on 2012 figures.
In polymers, gross profit increased $1.2 million - 7% for Q4 at $9m or an increase of 13% for the full year, primarily the result of strong sales in Europe said the company.
The use of rigid foam insulation solutions will bring continued growth in its polymers segment, the company believes, as should improvements in the economies of the US and Europe.
China’s higher supply costs against lowering margins will have an impact, but the company said, shutdown costs experienced in 2013 will not reoccur.