Mexico's petrochemical producer Mexichem reported earning close to $252 million in the second quarter of 2011 before interest, taxes, depreciation, and amortization (EBITDA) -- a 39% increase compared with the same period of last year.
In a filing of its preliminary results sent to the Mexican Stock Exchange Wednesday morning, the company also said that its total sales amounted to $1 billion in Q2 2011, 36% higher than Q2 2010.
According to Mexichem, the increase was due to the consolidation of new acquisitions (Policyd, Plasticos Rex and AlphaGary) and higher fluor and PVC prices.
Mexichem June sell ideas for PVC were at $1,300/mt delivered.
Meanwhile, the ratio debt net to EBITDA was 1.39x, below the 2.0x level originally targeted by the company.
