Oxea reports increased revenues and earnings in Q4

Highlights Q4 2012:

Net sales were €343M (€328M, +4% yr-on-yr)
Gross profit was €47M (€34M, +38% yr-on-yr)
Operating profit was €43M (€32M, +34% yr-on-yr)
Net income was €14M (€9M, +56% yr-on-yr)
EBITDA was €50M (€38M, +32% yr-on-yr)
Adjusted EBITDA was €44M (€35M, +26% yr-on-yr)

Oxea, a leading global supplier of Oxo Intermediates and Oxo Derivatives, announced for Q4 a strong earnings increase yr-on-yr. The increase in revenues and earnings can be recognised across the entire product portfolio and all regions. On a full year basis, revenues of €1459M were only slightly yr-on-yr (-1.4%) despite a still soft world economy and overall challenging macroeconomic conditions during 2012. EBITDA of €193 million was 5.4% below prior year mainly due to a very strong first quarter of 2011 with high export margins and one-off gains from steep raw material price increases over the average cost value carried in inventories.