Tag Archives: Univar Solutions

Univar Solutions publishes Sustainability Report for 2020

U.S. based Distributor announces new Global Sustainability Goals to 2025 and beyond

Global chemicals and ingredients distributor Univar Solutions, Inc. (Downers Grove, IL – United States) recently announced the release of its 2020 sustainability report and the introduction of a new set of global sustainability goals to 2025 and beyond. Besides tracking progress against its sustainability goals to 2021, the document also introduces a set of new ambitious sustainability goals to 2025, with key emissions goals stretching to 2030 in support of a long-term commitment to achieve net zero emissions by 2050.

The report can be downloaded from the company website.

Source: Univar Solutions press release

 

HGE – DCG / 25.06.2021

Univar Solutions reports Q4-2020 and Full Year 2020 Results

Univar Solutions notes lower Demand in global industrial End Markets

Global chemical distributor Univar Solutions Inc. (Downers Grove, IL – United States) yesterday reported the financial results for the fourth quarter 2020. Consolidated net sales were USD 2’035.4 mn, down 5.5%  (-1.5% at constant currency) compared with USD 2’155.0 mn in fourth quarter 2019, as the overall global demand conditions were “challenging”.  The picture for the various geographic regions was mixed. The USA were down 9.5% at USD 1’224.9 mn. The EMEA (=Europe, Middle East & Africa) region achieved nominal sales growth of 2.1% and came in at USD 427.8 mn (-3.0% at constant currency). Canada recorded a small nominal sales growth of 0.9% to a level of USD 258.5 mn, despite the exit from wholesale Agriculture distribution (-0.6% at constant currency). In LATAM (= LAtin America) nominal sales were down 1.4% at USD 124.2 mn, but up 9.1% at constant currency.

 

Adjusted EBITDA came lower than in the same quarter last year at  USD 146.4 mn, a decline of  7.8% (-7.5% at constant currency). When adjusted for the divestment of the Environmental Services (“ES”) business unit, the change was -4.9% nominally and -4.6% at constant currency. All regions posted a nominal decline and except for LATAM also a decline at constant currency.

 

Overall this resulted in a net loss of USD -33.7 mn or earning per diluted share of USD -0.20, which is loer than the net loss of USD -55.1 mn and earnings per diluted share of USD -0.33 in the fourth quarter of the prior year, respectively due to lower taxes, partially ofset by losses on the sale of the Canadian Agricultural services business. During the fourth quarter Univar was able to reduce the Leverage Ratio to 3.5x from 3.8x at the end of Q3-2020.

 

For the full year 2020 Univar posted sales of USD 8’265.0 mn, down 11.0%  (-10.3% at constant currency) from USD 9’286.9 mn in 2019. With sales of USD 5’006.2 mn (-14.1%) the USA remained the largest region, followed by EMEA and Canada with USD ‘1’697 mn (-5.0%) and 1’110.0 mn (-8.8%), respectively. LATAM was more stable with sales at USD 451.0 mn (-0.9%).

 

Gross Profits were USD 1’258.3 mn (-8.7% / GP-margin 25.1 %) for the USA, USD 425.8 mn (+0.2% / GP-margin 25.1%) for EMEA, USD 215.1 mn (-8.0% / GP-margin 19.4%) for Canada and USD 103.0 mn (-1.3% / GP-margin 22.8%) for the LATAM region, resulting in a total of USD 2’002.2 mn (-6.5% / GP-margin 24.2% on average).

 

Total Consolidated Adjusted EBITDA was USD 635.8 mn, down 9.7% (-8.4% at constant currency), reflecting an EBITDA-margin of 7.69%. This is up 11 Bps from the 7.58% EBITDA-margin reached in 2019. Net income for 2020 was USD 52.9 mn or USD 0.31 per share. This compares with a net loss of USD 100.2 mn or USD -0.61 per share for 2019. Adjusted net income was USD 211.9 mn, equivalent to to adjusted earnings of USD 1.25 per share (on 169.8 mn sahres), slightly down  from the USD 1.40 per share in the year before (based on 164.1 mn shares), which resulted from an adjusted net income of USD 231.6 mn in 2019.

 

For Q1-2021 Univar Solutions expects to generate an Adjusted EBITDA in the range of USD 150 to 160 mn (compared to USD 161.6 mn in Q1-2020). For the full year 2021 that range was given at USD 630 to 650 mn, despite that in Univar’s view “the exact timing of the economic recovery is uncertain”. These numbers also reflect planned divestments.

 

Fore further details see the following link:

 

https://investors.univarsolutions.com/investors/investor-news/investor-news-details/2021/Univar-Solutions-Reports-Solid-2020-Fourth-Quarter-and-Full-Year-Financial-Results-Issues-Guidance-for-2021/default.aspx

 

Source: Univar press release

 

HGE – DCG / 25.02.2021

Univar Solutions reaches Agreement to divest Distrupol

U.S. based Distributor exits European Plastics Distribution Activities in Private Equity sponsored Transaction

Global chemicals and ingredients distributor Univar Solutions, Inc. (Downers Grove, IL – United States) will exit its Plastics distribution activities in Europe. Its UK-based subsidiary Distrupol Ltd. (Chertsey, Surrey – United Kingdom) and related companies located in the Benelux and the Nordic regions are going to be acquired by GPD Companies, Inc. (The Woodlands (Houston), TX – United States of America), an affiliate of One Rock Capital Partners, LLC for an undisclosed amount.

 

GDP Companies is a holding company formed by One Rock Capital Partners with the objective of creating a “leading group of global value added distributors [for Polymers]”. One of its operational entities is Nexeo Plastics, the announcement said. Upon consumation of the transaction, Distrupol will join the group.

 

Source: GPD Companies press release, DistriConsult analysis

 

HGE – DCG / 29.01.2021

Univar Solutions appoints James Holcomb President North America Chemical Distribution

U.S. based Distributor augments North American Leadership Team

Global chemicals and ingredients distributor Univar Solutions, Inc. (Downers Grove, IL – United States) announced that it has appointed James B. Holcomb to the position of President of North America Chemical Distribution, with responsibility for the chemical distribution businesses in the U.S. and Canada.  Role. His first priority will be growing sales in North America in relation to non-specialty products and otherwise optimizing the effectiveness of the North American salesforce, Univar said in the announcement. In this role, he joins Jennifer McIntyre, SVP, Chief Streamline Officer and Head of North American Operations, and Nick Powell, SVP and President Specialty Chemicals & Ingredients in the leadership team.

Holcomb, who received his bachelor’s degree in business administration from the University of Kentucky and a master’s degree in business administration from the University of Memphis, is an alumnus of the International Management Course at Ashridge University in the United Kingdom. He has more than 25 years of experience in the industry and joins Univar Solutions after having been previously employed by Brenntag. There he held the role of Chief Operating Officer for Brenntag North America. 

Source: Univar press release

HGE – DCG / 18.01.2021

Univar Solutions acquires CASE Business of Zhuhai Techi Chem in China

U.S. based Distributor expands Footprint in China with Asset Deal for Silicones Distribution

Global chemicals and ingredients distributor Univar Solutions, Inc. (Downers Grove, IL – United States) recently announced that its wholly owned subsidiary, Univar Solutions China Co. Ltd., has reached an agreement with Zhuhai Techi Chem Silicone Industry Corporation [“Techi Chem“] (Zhuhai, Guangdong Province – China) to acquire the business to distribute innovative specialty silicone solutions used primarily for the Coatings, Adhesives, Sealants, and Elastomers (“CASE” ) market for an undisclosed amount.

 

The entity, which was established in 2001, has in-depth application know-how and an extensive logistics network across China.  The transaction  is expected to close in mid-December. No financial details were disclosed.

 

Source: Univar press release

 

HGE – DCG / 07.12.2020

Univar Solutions appoints Matthew Ottaway Senior VP Beauty Care and Nutrition

U.S. based Distributor bundles End Markets served into select Macro Categories

Global chemicals and ingredients distributor Univar Solutions, Inc. (Downers Grove, IL – United States) announced that it has appointed Matthew Ottaway Senior Vice President Beauty Care and Nutrition. This appointment comes the company announced recently that it would combine of its 14 “end markets” into five “macro categories”, namely Consumer Solutions, General Industrial, Services & Other Markets, Industrial Specialties, and Refining & Chemical Processing. In his new role, Ottaway “will be accountable for the continued expansion and growth of Univar Solutions existing global businesses of Food Ingredients, Beauty, and Personal Care as well as the globalization of the Nutraceuticals business currently operating in Canada”, Univar said in the announcement.

 

Ottaway, who joined Univar in 2014, has more than 20 years of chemical and ingredients industry experience, working for both producers and distributors in sectors such as Beauty and Personal Care, Food Ingredients, Pharmaceuticals, and Coatings, the company said. His most recent position with Univar Solutions was that of Vice President Focused Industries EMEA, where he had a focus on sales execution as well as supplier management and geographic expansion. 

Source: Univar press release

HGE – DCG / 11.06.2020

Univar Solutions publishes 2019 Sustainability Report

U.S. based Distributor names Jennifer McIntyre as Corporate Sustainability Lead

Global chemicals and ingredients distributor Univar Solutions, Inc. (Downers Grove, IL – United States) announced last week that it has published its 2019 Sustainability Report. It is accompanied by a new dashboard, showing progress against Univar’s 2021 sustainability goals.  The report also references the latest version of the Global Reporting Initiative (GRI) Standards, the company said. The report is available through the company website.

In the future, Jennifer McIntyre,  Senior Vice President and Chief Integration Officer will serve as the company’s Executive Sustainability Lead, Univar said. Since joining the company in 2013, McIntyre has been responsible for a number of supply chain and operations improvement projects.  Most recently, she has led the Univar’s integration strategy, following the Nexeo acquisition.  “She will continue leading those efforts, while at the same time introducing new ideas and proven best practices to the Company’s sustainability agenda.”

 

Source: Univar press release

HGE – DCG / 08.06.2020

Univar Solutions reports Q1-2020 Results

U.S. based Distributor shows Growth in all Regions except EMEA and is pleased with its Performance

Global chemical distributor Univar Inc. (Downers Grove, IL – United States) yesterday reported the financial results for the first quarter 2020. Consolidated net sales were USD 2’211.2 mn, up 2.4%  (+3.6% at constant currency) compared with USD 2’160.0 mn in Q1-2019.  Growth in the USA of 3.8%, Canada of 4.4% and particularly in LATAM (= Latin America) of 12.9%, was partially offset by declining sales in the EMEA (=Europe, Middle East & Africa) region (-4.8%). Univar attributes the growth in sales partially to the effects of the Nexeo acquition, but also to a higher demand for products in what the group calls “essential end markets” (= “products and services that are esssential for maintaining clean drinking water, waster water treatment, home, industrial and health care facility sanitization, and that are used in the manufacturing of food and pharmaceuticals”).  

Adjusted EBITDA came in at  USD 161.6 mn, up 0.9% (+2.6% at constant currency) from the USD 160.1 mn realised in the first quarter of last year. EBITDA growth was particularly strong in LATAM at +45.6%, followed by the Canada at +25.8. Int he USA profit was essentially flat at -0.5% while EMEA showed a decline at -4.3%.

Overall this resulted in net earnings of USD 55.9 mn or earning per diluted share of USD 0.33, which compares with net loss of USD 63.9 mn and earnings per diluted share of USD -0.43 in Q1-2019, respectively. Adjusted net income was USD 52.3 mn, compared to USD 49.7 mn in Q1-2019  and adjusted earnings per diluted share decreased slightly to USD 0.31 in the quarter from USD 0.33 in the first quarter of the prior year.

The Leverage Ratio increased to 3.7x at the end of March 2020, up from 3.3x at the end of December 2019, but lower that the 3.9x posted on 31. March 2019. Drivers were a sesonal increase in working capital, partially offset by “working capital efficiency”, Univar Solutions said. Capital expenditure plans have been reduced, from a previously anticipated level of USD 120 to 130 mn to a range of USD 95 to 115 mn. Univar stated that is has sufficient liquidity of ca. USD 750 to 800 mn in cash and available lines of credit at the end of Q2-2020. This position is expected to increase by end of the year.  The company also stressed that it has no significant debt maturities until 2024 is in full compliance with its credit agreements. 

Univar has withdrawn its full year guidance for Adjusted EBITDA a few weeks ago. The company plans to provide an update “as appropriate”, once it has obtained greater clarity regarding the impalications of COVID-19 and the impact this pandemic will have on its future business. It is monitoring the situation and will take expense reduction measures beyond some already initiated, if needed. 

Fore further details see the following link:

https://investors.univarsolutions.com/investors/investor-news/investor-news-details/2020/Univar-Solutions-Reports-Solid-2020-First-Quarter-Financial-Results-Maintains-Strong-Balance-Sheet-and-Liquidity/default.aspx

Source: Univar press release

HGE – DCG / 12.05.2020

Univar Solutions appoints Christopher D. Pappas Chairman of the Board

U.S. based Distributor reduces Number of Board Members

Global chemicals and ingredients distributor Univar Solutions, Inc. (Downers Grove, IL – United States) announced yesterday that it has appointed Christopher D. Pappas as independent Chairman of its Board of Directors. He will also chair the Governance and Corporate Responsibility Committee.

 

Pappas, who joined Univar Solution’s board in 2015 and has served as the Company’s Independent Lead Director since May last year, succeeds Stephen D. Newlin who will continue to serve on the Board.

 

As a result of William S. Stavropoulos and Edward J. Mooney not standing for re-election at this year’s annual meeting due to the company’s previously-announced retirement policy, the size of the board has been reduced from twelve to ten directors.  

 

Source: Univar press release

 

HGE – DCG / 08.05.2020

Univar Solutions to hold “virtual-only” Annual Meeting

U.S. based Distributor keeps Date for upcoming Annual Meeting of Stockholders

Global chemicals and ingredients distributor Univar Solutions, Inc. (Downers Grove, IL – United States) announced on Monday that its upcoming 2020 Annual Meeting of Stockholders (“Annual Meeting”) will be held in a virtual only format on 07. May 2020, at 08:30 CDT. Univar said this decision has been made in light of public health concerns regarding the coronavirus (COVID-19) pandemic.

In a separate announcement Univar said the results for Q1-2020 will be reported on 11. May 2020.

 

Source: Univar press release(s)

HGE – DCG / 09.04.2020

Univar Solutions reports Q4-2019 and Full Year 2019 Results

Univar Solutions shows Growth in USA and LATAM, partially offset by Decline in Canada and EMEA

Global chemical distributor Univar Inc. (Downers Grove, IL – United States) yesterday reported the financial results for the fourth quarter 2019. Consolidated net sales were USD 2’155.0 mn, up 9.3%  (+9.8% at constant currency) compared with USD 1’971.2 mn in fourth quarter 2018.  Growth in the USA of 16.6% and particularly in LATAM (= Latin America) of 36.4%, driven mostly by the Nexeo acquisition, was partially offset by declining sales in Canada (-3.1%) and the EMEA (=Europe, Middle East & Africa) region (-7.5%). Univar attributes the decline in sales mostly to chemical price deflation, which also dampened growth in the USA and LATAM.

 

Adjusted EBITDA came in at  USD 158.8 mn, up 10.3% (+11.3% at constant currency) from the USD 144.0 mn realised in the fourth quarter of last year. EBITDA growth was particularly strong in LATAM at +47.9%, followed by the USA at +15.6%. Canada improved EBITDA by 5.1% while EMEA was almost falt at +1%.

 

Overall this resulted in a net loss of USD -55.1 mn or earning per diluted share of USD -0.33, which compares with net income of USD 1.2 mn and earnings per diluted share of USD 0.01 in the fourth quarter of the prior year, respectively. Adjusted net income was USD 50.5 mn, compared to USD 47.5 mn in Q4-2018  and adjusted earnings per diluted share decreased to USD 0.29 in the quarter from USD 0.33 in the fourth quarter of the prior year.

 

During the fourth quarter Univar was able to reduce the Leverage Ratio to 3.3x from 3.5x at the end of December 2018. Drivers were a strict net working capital management, the proceeds from the divestment of the Environmental Services business and certain real estate sales, Univar Solutions said.

 

For the full year 2019 Univar posted sales of USD 9’286.9 mn, up 7.6% (+9.3% at constant currency) from USD 8’632.5 mn in 2018. With sales of USD 5’828.5 mn (+17.5%) the USA remained the largest region, followed by EMEA and Canada with USD 1’785.5 mn (-9.6%) and 1’217.8 mn (-6.50%), respectively. Also LATAM saw growth in sales at USD 455.1 mn (+15.7%).

 

Gross Profits were USD 1’377.8 mn (+22.1% / GP-margin 23.64%) for the USA, USD 424.9 mn (-6.4% / GP-margin 23.80%) for EMEA, USD 233.7 mn (+1.0% / GP-margin 19.19%) for Canada and USD 104.4 mn (+21.1% / GP-margin 22.94%) for the LATAM region, resulting in a total of USD 2’140.8 mn (+12.7% / GP-margin 23.05% on average).

 

Total Consolidated Adjusted EBITDA was USD 704.2 mn, up 10.0% (11.9% at constant currency), reflecting an EBITDA-margin of 7.59%. This is up 17 Bps from the 7.42% EBITDA-margin reached in 2018. Net loss for 2019 was USD 100.2 mn or USD 0.61 per share. This compares with a net income of USD 172.3 mn or USD 1.21 per share for 2018. Adjusted net income was USD 231.6 mn, equivalent to to adjusted earnings of USD 1.62 per share (on 165.0 mn sahres), down  from the USD 1.62 per share in the year before (based on 142.2 mn shares), which resulted from an adjusted net income of USD 230.2 mn in 2018.

For Q1-2020 Univar Solutions expects to generate an Adjusted EBITDA in the range of USD 150 to 160 mn. For the full year 2020 that range was given at USD 700 to 740 mn, assuming “continued weak end markets and a challenging competitive environment in the first half of the year.” 

 

Fore further details see the following link:

https://investors.univarsolutions.com/investors/investor-news/investor-news-details/2020/Univar-Solutions-Reports-Solid-2019-Fourth-Quarter-and-Full-Year-Financial-Results-Issues-Guidance-for-2020/default.aspx

Source: Univar press release

HGE – DCG / 28.02.2020