Higher margins continue to offset lower oil and gas volumes
Third Quarter 2015 Highlights (Versus Third Quarter 2014)
DOWNERS GROVE, Ill. – November 3, 2015 –
- Adjusted EBITDA of $156.2 million declined 8.4 percent from $170.6 million, primarily due to foreign currency translation impacts. On a currency neutral basis, Adjusted EBITDA decreased 2.0 percent as the benefit of growth and higher margins was offset by lower demand in upstream oil and gas markets.
- In July, the Company completed the acquisition of the assets of Chemical Associates, Inc., expanding Univar’s capabilities in renewable oleochemical products.
Univar Inc. (NYSE: UNVR) (“Univar”), a global chemical distributor and provider of value-added services, announced today its financial results for the third quarter ended September 30, 2015.
“Univar delivered Adjusted EBITDA on a currency neutral basis that was modestly below prior year and in-line with our guidance. We also generated strong cash flow during the quarter. The strength and diversity of our product and customer portfolio combined with productivity gains, including our EMEA restructuring, enabled us to again largely offset the steep declines in demand for our products in upstream oil and gas markets,” said Erik Fyrwald, President and Chief Executive Officer. “We will continue to execute against our strategic priorities and are deploying our free cash flow to make attractive investments that will drive future growth.”
Founded in 1924, Univar is a global distributor of specialty and basic chemicals from more than 8,000 producers worldwide. Univar operates more than 700 distribution facilities throughout North America, Western Europe, the Asia-Pacific region, and Latin America, supported by a global network of sales and technical professionals. With a broad portfolio of products and value-added services, and deep technical and market expertise, Univar delivers the tailored solutions customers need through one of the most extensive chemical distribution networks in the world. Univar is Chemistry DeliveredSM
This press release includes “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which may be beyond our control. We caution you that the forward-looking information presented in this press release is not a guarantee of future events, and that actual events may differ materially from those made in or suggested by the forward-looking information contained in this press release. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as “may,” “plan,” “seek,” “comfortable with,” “will,” “expect,” “intend,” “estimate,” “anticipate,” “believe” or “continue” or the negative thereof or variations thereon or similar terminology. Any forward-looking information presented herein is made only as of the date of this press release, and we do not undertake any obligation to update or revise any forward-looking information to reflect changes in assumptions, the occurrence of unanticipated events, or otherwise.
FOR ADDITIONAL INFORMATION
Scott C. Johnson