Mexico Mexichem expects Q3 EBITDA to drop by 24%

11 October 2013 23:39  [Source: ICIS news]

MEDELLIN, Colombia (ICIS)--Mexichem expects Q3 earnings before interest, taxes, depreciation and amortisation (EBITDA) to fall by 24% year on year to Mexican pesos (Ps) 3.08bn ($237m, €175m), the Mexico-based chemical major said on Friday.

Quarterly sales should total Ps17.05bn, down by 4% year on year, the company said in a filing with the Bolsa Mexicana de Valores (BMV), the country’s stock exchange.

Mexichem attributed the expected drop in EBITDA and sales to lower prices for cooling gases in the fluoride chain as a result of increased Chinese participation in the market.

The company expects accumulated EBITDA from January to September to total Ps9.03bn, down by 17% compared with the prior-year period.

Accumulated sales in the first nine months should reach Ps49.49bn, up by 1% compared with last year, the company said.

Mexichem is the largest producer of polyvinyl chloride (PVC), vinyl resins and compounds in Latin America.

($1 = Ps12.99, $1 = €0.74)

By: Simon West

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