Mexico Mexichem expects Q3 earnings to rise 2% year on year
07 October 2011 22:04 [Source: ICIS news]
HOUSTON (ICIS)--Mexico-based polyvinyl chloride (PVC) producer Mexichem expects to report Mexican pesos (Ps) 2.508bn ($186m, €138m) in third-quarter earnings before interest, tax, depreciation and amortisation (EBITDA), up 2% year on year, the company said on Friday.
Third-quarter sales should reach Ps12.313bn, up 22% year on year, according to a filing that Mexichem made to the Bolsa Mexicana de Valores (BMV), the nation's stock exchange.
Mexichem attributed the sales increase mainly to its acquisitions of Policyd, Plasticos Rex and Alphagary, a plastics compounder it acquired from Rockwood Holdings. Also, the company reported better prices for PVC and for fluorine derivatives such as refrigerants.
The company's EBITDA reflected volatile currency exchange rates, which affected the prices of inputs, the company said.
($1 = Ps13.45)
($1 = €0.74)
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By: Al Greenwood
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