Wilmington, Delaware — Blowing agent company Chemours experienced a 17% rise in sales in its fluoropolymer segment in 2017 compared with 2016. They reached $2.7 bn.
The company said sales growth was because of ‘continued adoption of Opteon refrigerants’.
Higher prices for base-level refrigerants between 2017 and 2016 benefitted the fluoropolymers business. But contractual pricing adjustments went some way to offset this.
Adjusted earnings before interest taxation depreciation and amortisation (Ebitda) were up 50% in the sector at $669m.
For the full 2017 financial year, Chemours had sales of $6.2bn up 15% n$5.4bn on 2016.
The company said ‘volume growth across all segments, added 11% to revenue’.
Currency effects were negligible year to year, the company said. But the costs associated with closures and divestments in the chemicals solutions business were a ‘4% headwind’, it added.
Looking ahead, Chemours said it expects its Ebitda to be between $1.7bn to $1.85 bn for 2018.