Univar with flat Adjusted EBITDA in U.S. and Canada, Growth in EMEA and ROW
Global chemical distributor Univar Inc. (Downers Grove, IL – United States) last week reported the financial results for the quarter ended 30. September 2017. Consolidated net sales were US$ 2’044.7 mn, up 2.5 % (0.8% at constant currency) from US$ 1’999.7 in Q3-2016. Adjusted EBITDA came in at US$ 152.0 mn, up 4.2% (2.4% at constant currency) from the US$ 145.9 mn realised in Q3 of last year.
Univar said the Europe, Middle East Africa (EMEA) and Rest of World (ROW) segments in aggregate increased Adjusted EBITDA 20.1 % driven by improved sales force execution, strong operating expense management, and positive reported currency movements. Adjusted EBITDA for the USA segment was essentially flat. Improvements made in the company’s sales force effectiveness and operating efficiency were offset by transitory impacts from Hurricanes Harvey and Irma. Univar estimates the hurricane impact on its third quarter Adjusted EBITDA from lost customer sales and supply disruptions, net of pre-buying by certain customers, was roughly US$ 6 mn. Univar highlighted that “despite these challenges, all segments grew gross profit for the first time in 13 quarters.” Gross margin expanded 30 basis points to 22.2 percent and Adjusted EBITDA margin increased 10 basis points to 7.4 percent.
Overall this resulted in a net income of US$ 38.9 mn, or US$ 0.28 per share, which compeares with a net loss of US$ 63.0 mn, or US$ -0.46 per share, in the third quarter of 2016. Adjusted earnings per share increased 38.5 percent to US$ 0.36 per share (up from U$ 0.26 per share in Q3 of the prior year.
In its outlook, Univar said, the company continues to make progress on its strategic priorities to build what it calls “Commercial Greatness”, execute with “Operational Excellence” and act as “One Univar”.
Fore more details see the following link: http://www.univar.com/Newsroom/News-Archive/2017/11_3_2017.aspx
Source: Univar press release
HGE – DCG / 08.11.2017
