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TiO2 sales volumes in the first quarter of 2017 were 3 per cent higher as compared to the first quarter of 2016 due to higher sales in the North American and export markets, partially offset by lower sales in the European market. Kronos' sales volumes in the first quarter of 2017 set a new overall record for a first quarter period. Fluctuations in currency exchange rates (primarily the euro) also affected net sales comparisons, decreasing net sales by approximately $7 million in the first quarter 2017 as compared to the first quarter of 2016.
The company's TiO2 segment profit in the first quarter of 2017 was $56.5 million as compared to $3.8 million in the first quarter of 2016. Segment profit increased in the first quarter of 2017 as compared to the first quarter of 2016 primarily due to higher average TiO2 selling prices, higher sales and production volumes and lower raw materials and other production costs. Kronos' TiO2 production volumes were 10 per cent higher in the first quarter of 2017 as compared to the first quarter of 2016.
Meanwhile, the company also reported a net income of $36.8 million in the first quarter of 2017 compared to a net loss of $3.8 million for the same period in the corresponding year. (RR)
Fibre2Fashion News Desk – India
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