NEW YORK and LONDON, September 19, 2016 /PRNewswire/ --
US-based Dow Chemical has been named the ICIS Company of the Year, based on financial metrics, by weekly global publication ICIS Chemical Business.
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Download the ICIS Company of the Year article at [http://www.icis.com/contact/icis-top-100-companies-company-of-the-year-2016/]
The selection takes into account year-on-year growth in profits at the operating and net levels, as well as margins in 2015.
"We congratulate Dow Chemical on its outstanding financial performance in a challenging market characterized by declining crude oil and chemical prices, and slow global economic growth," said Joseph Chang, Global Editor of ICIS Chemical Business.
"The breadth of the Dow portfolio, and its increased orientation towards performance plastics and performance chemicals helped lessen the negative impact of lower priced oil," said Nigel Davis, ICIS Insight Editor.
In 2015, Dow posted a 12% increase in operating earnings per share (EPS) to $3.11, despite a 16% decline in sales to $48.8bn. Operating earnings before interest, tax, depreciation and amortization (EBITDA) rose 3% to a record $9.6bn. Its operating EBITDA margin was a robust 19.7%.
Dow is in the process of completing its planned merger with DuPont, a transaction planned to close by the end of the year.
"We appreciate ICIS' recognition of Dow's financial performance. Through the relentless and disciplined execution of our strategy we've created a portfolio that delivers growth despite volatile market conditions," said Dow chairman and CEO Andrew N. Liveris.
"Our unique combination of world-class innovation, diversified integration and narrower and deeper market focus have enabled us to grow operating earnings and expand margins for 15 consecutive quarters. The historic DowDuPont transaction offers an opportunity to deliver even greater value to all stakeholders, as we drive the intended separation into three independent, leading science-based companies that will redefine their respective industries," he added.
The ICIS Company of the Year award is made for outstanding financial performance in 2015 based on detailed analysis of financial metrics from the data collected for the ICIS Top 100 Chemical Companies - a listing of the world's major producers published in the September 5, 2016 issue of ICIS Chemical Business.
The ICIS Top 100 Chemical Companies listing can also be downloaded at http://www.icis.com/Top100Chem
About ICIS Chemical Business
ICIS Chemical Business is the global weekly publication keeping you up-to-date on chemical prices with market news and analysis of both short term and long term drivers. Get your weekly global summary of these markets by subscribing today at http://www.icis.com/about/icis-chemical-business-magazine.
About ICIS
ICIS Chemical Business is part of ICIS. ICIS is the world's largest petrochemical market information provider and has fast-growing energy and fertilizer divisions. Our aim is to give companies in global commodities markets a competitive advantage by delivering trusted pricing data, high-value news, analysis and independent consulting, enabling our customers to make better-informed trading and planning decisions. We have more than 30 years' experience in providing pricing information, news, analysis and consulting to buyers, sellers and analysts. With a global staff of more than 800, ICIS has employees based in Houston, Washington, New York, London, Montpellier, Dusseldorf, Karlsruhe, Milan, Barcelona, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Yantai, Tokyo and Perth. ICIS is a division of Reed Business Information, part of RELX Group.
For editorial inquiries, contact:
Joseph Chang
Global Editor, ICIS Chemical Business
T: +1-212-791-4224
joseph.chang@icis.com
For commercial inquiries, contact:
John Hill
Head of Sales - Conferences, Publishing & Training
ICIS
T: +44(0)20-8652-3893
john.hill@icis.com
SOURCE: ICIS
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