Resumen de Q2 company results show further recovery for TiO2 buyers, sellers
AkzoNobel India's revenues rise; TOR Minerals' profit surge; Chemours: global demand outpacing economy AkzoNobel's India reported rising revenues thanks to increased coating sales, but profits fell in Q2, as input prices rose.
AkzoNobel India reported revenues up 1.6%, at Indian rupees (Inr) 7.91bn ($123.15m), thanks to a 2.5% boost in revenues from its coating segment.
But rising material costs hit profits, as EBITDA tumbled 32% to Inr 665.5m.
Jayakumar Krishnaswamy, managing director of AkzoNobel India, said "the quarter's performance has been impacted due to slow sales growth and higher input prices".
Meanwhile, US speciality materials manufacturer TOR Minerals International Inc. saw profits triple in the second quarter of the year on the back of strong activity in its alumina division, while TiO2 pigment sales were flat.
The company reported a net profit of $352,000 in Q2 against $87,000 at this time last year - a growth of over 300%.
Revenues rose 9% in the period, mainly as speciality alumina demand increased in a number of markets, primarily Europe.
