03 May 2012 00:23 [Source: ICIS news]
HOUSTON (ICIS)--Brazil-based specialty chemicals producer Oxiteno reported on Wednesday reais (R) 64m ($33.5m, €25.5m) in earnings before interest, tax, depreciation and amortisation (EBITDA), down 14% year on year because its sales mix was less favourable and international prices for glycols fell.
First-quarter net sales reached R647m, up 18% because of higher volumes and a weaker Brazilian real. The same trends, however, caused Oxiteno's cost of sales to rise 26% year on year, reaching R527m.
Oxiteno is one of the subsidiaries of Ultrapar. Ultrapar also owns Ipiranga, a fuel retailer and Ultracargo.
Ultrapar's first-quarter EBITDA reached R502m, up 7% year on year because of higher earnings from Ipiranga and Ultracargo.
($1 = R1.91)
($1 = €0.76)
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