ICIS (NEW YORK and LONDON) -- US-based Dow
Chemical has been named the ICIS Company of the Year, based
on financial metrics, by ICIS Chemical Business.
The selection takes into account year-on-year growth in profits at the operating and net levels, as well as margins in 2015.
“We congratulate Dow Chemical on its outstanding financial performance in a challenging market characterised by declining crude oil and chemical prices, and slow global economic growth,” said Joseph Chang, Global Editor of ICIS Chemical Business.}
“The breadth of the Dow portfolio, and its increased orientation towards performance plastics and performance chemicals helped lessen the negative impact of lower priced oil,” said Nigel Davis, ICIS Insight Editor.
In 2015, Dow posted a 12% increase in operating earnings per share (EPS) to $3.11, despite a 16% decline in sales to $48.8bn. Operating earnings before interest, tax, depreciation and amortization (EBITDA) rose 3% to a record $9.6bn. Its operating EBITDA margin was a robust 19.7%.
Dow is in the process of completing its planned merger with DuPont, a transaction planned to close by the end of the year.
“We appreciate ICIS’ recognition of Dow’s financial performance. Through the relentless and disciplined execution of our strategy we’ve created a portfolio that delivers growth despite volatile market conditions,” said Dow chairman and CEO Andrew Liveris.
“Our unique combination of world-class innovation, diversified integration and narrower and deeper market focus have enabled us to grow operating earnings and expand margins for 15 consecutive quarters. The historic DowDuPont transaction offers an opportunity to deliver even greater value to all stakeholders, as we drive the intended separation into three independent, leading science-based companies that will redefine their respective industries,” he added.
Click here to download the ICIS Company of the Year article, sponsored by US Chemicals, a Maroon Group company.
The ICIS Company of the Year award is made for outstanding financial performance in 2015 based on detailed analysis of financial metrics from the data collected for the ICIS Top 100 Chemical Companies - a listing of the world's major producers published in the September 5, 2016 issue of ICIS Chemical Business.
Click here to download the ICIS Top 100 Chemical Companies listing.