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Harvey impacts INEOS performance

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Hydrocarbon Engineering,

INEOS Group Holdings S.A. has reported a fall in EBITDA for 3Q17 to €577 million, compared to €647 million for 3Q16 and €638 million for 2Q17.

The Group reports that Hurricane Harvey had a significant impact on its performance for the quarter. A number of its facilities in Texas, US, were temporarily closed due to the hurricane, resulting in some lost production volumes, particularly in the O&P North America segment.

The estimated reduction in EBITDA for 3Q17 due to the hurricane was €50m. All of the plants are now back to full operations, except one train at the Nitriles plant in Green Lake, Texas and an HDPE unit at Cedar Bayou, Texas.

O&P North America reported EBITDA of €216 million compared to €280 million in 3Q16, and O&P Europe reported EBITDA of €196 million compared to €193 million in the corresponding period of last year. Meanwhile, Chemical Intermediates reported EBITDA of €165 million compared to €174 million in 3Q16.

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