Nouryon reported growth in profitability in its full-year 2019 financial results, despite challenging conditions in several end markets.
Adjusted EBITDA, backed by margin control and expense controls, rose by 5% to EUR1.13 billion ($1.27 billion).
Revenues were marginally higher at EUR5.08 billion ($5.7 billion), as a minor volume decline was more than offset by price and product portfolio mix of benefits.
“This is another solid set of results,” said Nouryon Chairman and CEO Charlie Shaver. “Our commercial excellence and operational improvement initiatives along with our cost discipline have shown that we can deliver improvements in profitability even when market conditions are challenging.”
Shaver added that the company continues to invest in capacity expansions and bolt-on acquisitions to support the growth of its customers.
Major growth investments in 2019 included expansions of organic peroxide in China, Mexico and the US, as well as expansion of colloidal silica and expandable microspheres in Sweden.
In 2019, Nouryon also completed the acquisition of one of China’s leading metal alkyl manufacturers. Recently the company announced two more moves to improve its portfolio; the acquisition of the carboxymethyl cellulose business of J.M. Huber Corporation, and the divestment of its redispersible polymer powders business to Celanese.