Issue 4/2018 - Chemical giants at a glance

DowDuPont's fourth-quarter net loss from continuing operations of $1.
2 billion based on generally accepted accounting principles (GAAP); EBITDA increased 24% to $3.
9 billion.
Net sales increased 13%, to $20.
1 billion, in the fourth quarter, with growth
across all business segments and regions.
GAAP net income from continuing operations of $1.
7 billion for the full year 2017; Analogue operating EBITDA increased 15% to $16.
2 billion; GAAP net sales for the full year were $62.
5 billion; In addition, DowDuPont recently announced certain targeted portfolio changes to the Materials Science and Specialty Products segments: Materials Science is expected to be spun off by the end of the first quarter of 2019 at the latest, and the Agriculture and Specialty Products segments will be spun off into companies
by June 1, 2019.


BASF's full-year 2017 sales rose by 12 percent to €64.
5 billion (2016: €57.
6 billion) and earnings before interest and taxes (EBIT) are expected to rise by 32 percent to €8.
3 billion.
Net income is expected to increase by 50 percent compared with 2016 to around EUR 6.
1 billion (2016: EUR 4.
1 billion).

The year-on-year earnings increase was mainly due to strong earnings in the Chemicals segment: high volumes and high margins in the Monomer, Petrochemicals & Intermediates divisions were the main factors
.
The significantly higher earnings in the Oil & Gas and other divisions also contributed to the significant increase
in EBIT excluding special items in the BASF Group.


WACKER's sales in the fourth quarter of 2017 amounted to €1.
18 billion, up around 3 percent year-on-year.
Operating EBITDA rose by 6 percent in the fourth quarter of 2017 to EUR 235 million
.
For the full year 2017, sales increased by 6% to EUR 4.
92 billion and EBITDA increased by 6% to EUR 1,015 million.
EBIT before special items increased by 24 percent to EUR 420 million in 2017, profit from continuing operations increased by 40 % to EUR 250 million, for the full year to EUR 885 million, and net cash flow in 2017 amounted to approximately EUR 360 million
.


PPG reported net sales from continuing operations of $3.
7 billion in the fourth quarter of 2017, up nearly 8% year-over-year.
Sales increased 3% in the fourth quarter, and average sales prices rose for the third consecutive quarter, contributing to sales growth of nearly 1%; Adjusted net income from continuing operations was $304 million
.
Net sales from continuing operations for the full year 2017 were $14.
8 billion, up more than 3% year-over-year, and net income from continuing operations for the full year was $1.
4 billion
.
Michael McGarry, chairman and chief executive officer of PPG, said earnings are expected to decline
slightly in the first half of the year due to the sharp rise in raw material prices faced by the coatings industry.
By working with customers to address rising costs, the average selling price is expected to continue to rise
in 2018.


Corning's 2017 GAAP sales were $10.
1 billion, up 8%
year-over-year.
Fourth-quarter GAAP sales were $2.
6 billion, up 7%
year-over-year.
The 2017 results showed the benefits of increased investment: Optical Communications full-year sales increased by 18%, making significant progress towards Optical Communications' goal of $5 billion in annual sales by 2020; Heavily adopted by Corning? Gorilla? Driven by innovative glass technology, the sales of the Special Materials Division increased by 25% for the whole year; Environmental Technologies full-year sales grew 7 percent and are expected to become a new $500 million business
with the first sales of gasoline particulate filters.
Highlights of the company's operations in 2018 are expected to include sales targets of approximately $11 billion, continued innovation, increased investment, and further improvements in LCD glass prices, with year-over-year price reductions expected to be in the mid-single-digit
range for the full year.


Eastman reported fourth-quarter 2017 sales revenue of $2,362 million, operating income of $268 million, adjusted operating income of $354 million and net income growth of $421 million
.
For the full year 2017, sales revenue was US$9,549 million, operating income was US$1,545 million and adjusted operating income was US$1,631 million
.
Mark Costa, Eastman Chairman and Chief Executive Officer, said that in 2018, we expect strong growth in high-value, innovative specialty products, with strong free cash flow growth and lower tax rates expected to further drive earnings growth; The Company will continue to invest in 2018 to foster growth; At the same time, scheduled maintenance costs are expected to rise; Raw material and energy prices, particularly olefins, are expected to fluctuate
this year.


ExxonMobil reported operating income of $66.
52 billion in the fourth quarter of 2017; cash flow from operations in the fourth quarter was $7.
4 billion, roughly the same as in 2016; and profit from chemicals was $1.
3 billion, up $398 million
compared to the same period last year.
Net profit for the full year 2017 reached $19.
71 billion, the highest annual profit
since crude oil prices began to decline in 2014.