Issue 17 2020 - INEOS earnings fell sharply

INEOS' earnings fell sharply

Ineos said its second-quarter net profit fell nearly 90% year-on-year to 25.
9 million euros ($30.
5 million) due to falling product prices.
Sales fell by more than €1.
1 billion to €2.
47 billion, while product volumes fell by 3 percent
.

EBITDA for olefins and polymers (O&P) North America was €103 million in the second quarter, down from €189 million in the prior-year quarter, and sales fell more than 23 percent year-on-year to €599 million
.
EBITDA of the olefins and polymers Europe business fell by more than 70 percent year-on-year to EUR 45 million in
the second quarter, the report said.
Compared to the previous quarter, EBITDA of the company's chemical intermediates division decreased by 30 percent to EUR 112 million
.
Due to the adverse impact of the coronavirus pandemic, sales fell by more than 32% year-on-year to EUR 1.
13 billion
.