11 February 2016
DETAILS
HUNTSMAN REPORTS FULL YEAR 2015 RESULTS
Full Year 2015 Highlights
• Adjusted EBITDA was $1,221 million
compared to $1,340 million in the prior year.
• Adjusted diluted income per share was $2.00
compared to $1.94 in the prior year.
• Net income attributable to Huntsman Corporation
was $93 million compared to $323 million
in the prior year.
• The stronger U.S. dollar reduced adjusted EBITDA
by an estimated $136 million compared to the prior
year; a negative impact of approximately
$0.39 loss per diluted share.
• Planned PO/MTBE maintenance
at our Port Neches, TX facility
reduced adjusted EBITDA in 2015 by
approximately $95 million.
This maintenance occurs approximately
once every five years.
Peter R. Huntsman
President, Chief Executive Officer and Director
“During the fourth quarter this year,
EBITDA from our cyclical businesses
– which include our MTBE, ethylene and TiO2 products –
decreased approximately $78 million compared to the prior year.
This overshadowed the real strength of our portfolio
which is in our downstream differentiated businesses.
Excluding approximately $24 million of foreign currency headwind,
the EBITDA from our differentiated businesses
improved approximately $50 million
compared to the prior year or 27%.
“In 2016, primarily as a result of lower priced oil
and a lower global economic growth environment,
we expect continued EBITDA pressure
on our cyclical businesses.
Growth from our differentiated businesses
will offset cyclical pressure and inflationary costs
such that we expect our 2016 EBITDA
to be a similar amount to 2015.
Importantly however, we expect our free cash flow generation
to improve by $350 million in 2016
through lower capital expenditures, restructuring
and maintenance.
In 2016 we will continue to pursue actively
a separation of our TiO2 business
through a spinoff to shareholders
or other strategic transaction.”
CONTACT HUNTSMAN
Investor Relations :
Kurt Ogden Gary
(801) 584-5959
Media:
Gary Chapman
(281) 719-4324
CHEMWINFO 2015 TOP PROFIT CHEMICAL COMPANIES
WWW.CHEMWINFO.COM BY KHUN PHICHAI
