Innospec’s welcome, first-quarter and everyone, call. David you, Thank conference XXXX to
was our current I’m who with pleased start of non-executive reviewing for XX I’d to by performance. director the to years. Joachim Innospec saddened report situation. Roeser, passing a of first-quarter very But the like are We
colleague, pandemic responding the valued facing industries, consider need and are how will was how of COVID-XX of XX. oil collapse he I’m When to the prospects. April on a Joachim these be conscious COVID-XX we great greatly and He hear we see challenges our a to acutely issues and to that you succumbed we the twin in near-term crude missed. friend the
first their safety Our be and priority always the health and our will customers. of employees, our families
who My are them the with sick who with employees families thoughts those are through and are these difficult get helping times.
operate ourselves advice, teams aligning as well with our enhanced local precautions have our are As able and remotely we to hygiene that safely. national and government and ensure our
in supporting offered We of are and protection a of conscious a as equipment our resource to the quantity donated facilities have we health our and authorities. role laboratory respiratory our communities large neighboring already
have all industry, we In we an by the continued are terms our of manufacturing, essential definition to so manufacture sites. at of covered
difficult times. In we acknowledge company to people employed appropriate by distancing through personal ensuring publicly doing appreciation great protective like to us have employees who while these protected of going I’d keeping this so, chance social take the are are our that to equipment. my our
customers’ different face all of are challenges we in units three a our term, our result As to strategic and these the meet In actions, opportunities. continuing businesses globally. business our near requirements
on to industries Products the fuel driven little a are demand. especially and is some specialties by as moderated facilities. miles for care and will return freight home with This short-term a but take should and personal care customer bounce This increased been to road, for demand. the limitations has trucks seeing even back Fuel normal. hit sustained temporary
and oil oilfield dependent for very outlook natural services is prices. The crude on gas
their this unfortunately, downturn base. make through current depend unprecedented The the survival many the activity. cost customer in on we’ve to of to And responded companies strength. right-size had redundancies financial period already have will We to
important to rest reviewing of a time spend year. the for outlook the it’s the first-quarter performance and Therefore, our financial little
quarter crude it pace question the Innospec first very there in our the income a natural of XXXX. for performance is increase the year. Had in pressures increase delivered in on and We on not that with COVID-XX gas, operating in an was been pleased no quarter. We a EPS XX% are first outstanding pandemic for and and XX% the adjusted
significant as very a credit our existing with quarter entered Just net position times sheet. and with important, unknown the these facilities. We we with strong balance headroom cash ended a on
held is discussions remain our to team. very us financial and of management group and continue the second with confidence balance supportive that the holding the at has strength per approved semiannual our dividend sheet our the pleased have half which gives with they $X.XX same share, as We XXXX. The of and board of the I level our our of banking payment strategy am
in and were had raw Volumes significantly, a from in-sourcing passed overall. chemicals Performance very quarter a we margins costs. QX the cost with headwind as operating down Revenues year. on allowing income. through volume a control, we points delivered in last focus up good increase were customers But even of X lower gross material after for growth, XX%
oilfield XXXX. the supplier well income mild down comparative and has sustainable performed well specialties disruption more of period foundation future. of Against performed a headwinds against revenues quarter, with the strong especially market, same a winter. on in deteriorating very Business Fuel and recovered services from a both last a only marginally has the with for the summer operating
new had and modest, developing encouraging, business Middle agents business by also in in We completion drag-reducing production results the in but East.
portfolio of value Overall, of benefit of balanced we the and capital. to continued prudent deployment the have demonstrate a
our the results that, turn Then After concluding questions. will will financial Ian more take Cleminson, detail. will I comments. review the your with return who some over call in we will I Now
Ian?
