BERWYN, Pa.—Trinseo reported overall growth in its first quarter financial statement, including a 24 percent increase in net sales over last year.
Net sales increased to $1.1 billion from $894 million last year, driven primarily through the pass through of higher raw material costs, according to the statement.
Net income rose by 42.7 percent from the previous year to $117 million. EBITDA increased to $190 million over $141 million in 2016, a change of 29.6 percent.
These increases were driven mostly by favorable raw material timing, offset partially by unfavorable price lag, higher margin in Feedstocks and Latex Binders, and higher sales volumes across the Performance Materials division. Favorable impacts were partially offset by styrene outages in Feedstocks and Americas Strenics, lower volume and margin in Basic Plastics, as well as lower margin in Performance Plastics.
Expansion for solution-styrene butadiene rubber and new acrylonitrile butadiene styrene capacity in China are also on schedule, said Chris Pappas, Trinseo president and CEO.