Huntsman Corporation has unveiled its financial report for the year 2015. The company reported that its total revenue for the year 2015 was US $ 10,299 million as against US $ 11,578 million in 2014, marking a decrease of 11.04 per cent.
Besides, adjusted EBITDA at the company plunged by 8.8 per cent to US $ 1,221 million last year as compared to US $ 1,340 million in 2014. However, it noted an increase of 3.09 per cent in its adjusted Earnings Per Share (EPS) in the period under review to US $ 2.0 as against to US $ 1.94 in 2014, according to a press release issued by the company.
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The adjusted net income reported by Huntsman last year was US $ 492 million compared with US $ 478 million in 2014, up 2.92 per cent.
Taking of future plans, Peter Huntsman, President and CEO of Huntsman Corporation said, “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. In 2016, we will continue to pursue actively a separation of our TiO2 business through a spinoff to shareholders or other strategic transaction.”
Huntsman is an American multinational manufacturer and marketer of chemical products for consumers and industrial customers. The company operates more than 100 manufacturing and R&D facilities in over 30 countries and employ approximately 15,000 associates across 5 business divisions.