The company's polyurethanes business saw sales rise 30.7 percent between the first quarter of 2020 and the first quarter of 2021. They reached $2.1 billion in the first quarter of 2021. This compares with $1.6 billion in the equivalent period in 2020.
At the same time, EBITDA in the division rose by over 750 percent to $525 million in the first quarter of this year. In the first quarter of 2020, that figure was $60 million.
Polyurethanes sales volumes were up 2.5 percent because of stronger demand from the electrical, electronics and household appliance industries and automotive. Demand came from the APAC region. But the bad weather in the U.S. reduced product availability and limited potential growth, the company said.
Strong demand and lower selling and general administration costs fed through to EBITDA helped the numbers. But these changes were offset by unplanned production stoppages.