Huntsman: 2009 Fourth Quarter and Full Year Results
Revenues for the fourth quarter of 2009 of Huntsman International LLC, Salt Lake City, UT, USA, were USD 2,096 million, an increase of 2% compared to USD 2,048 million for the same period in 2008 and a decrease of 1% compared to USD 2,108 million for the third quarter of 2009. Volumes for the fourth quarter of 2009 increased 13% compared to the same period in 2008 and decreased 7% compared to the third quarter of 2009 consistent with historical seasonal patterns. Adjusted EBITDA for the fourth quarter of 2009 was USD 165 million compared to USD 51 million for the same period in 2008 and USD 200 million for the third quarter of 2009. Net income attributable to Huntsman Corporation for the fourth quarter of 2009 was USD 66 million or USD 0.26 per diluted share, impacted by favorable year end accounting for taxes of approximately USD 79 million.
Revenues for the full year 2009 were USD 7,763 million compared to USD 10,215 million for 2008. Adjusted EBITDA for 2009 was USD 511 million compared to USD 643 million for 2008. Net income attributable to Huntsman Corporation for 2009 was USD 114 million or USD 0.48 per diluted share compared to USD 609 million or USD 2.60 per diluted share for 2008. Adjusted net loss for 2009 was USD 323 million or USD 1.38 loss per diluted share compared to adjusted net loss of USD 57 million or USD 0.24 loss per diluted share for 2008. Total cash and unused borrowing capacity as of December 31, 2009 was approximately USD 2.5 billion.
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