Huntsman’s full year and final quarter report reflect an increase in demand for polyurethanes, the company said.
The company reported revenues of $1.23bn (EUR800m) in final quarter of last year compared to $1.18bn in the final quarter of 2012, a hike of 4% or $48m.
Polyurethanes sales revenues rose by 1% from $4.89bn in 2012 to $4.96bn in 2013.
The increase in polyurethanes revenues was primarily due to higher sales volumes and favourable sales mix partially offset by lower average selling prices.
Huntsman’s MDI (methylene diphenyl diisocyanate) sales volumes increased 8% against prices which the report said had remained “essentially flat.” The company said the hike was the result of improved demand in all regions and across most major markets.
Polyurethane earnings before interest, tax, amortisation and depreciation stood at $173m for the final quarter of 2013 compared to $190m during the same period in 2012.
Over the full year, there was a 6.4% drop in polyurethanes pre-tax earnings between 2012 ($788m) and 2013 ($740m).
