today. the for Thank us to Thank you time everybody. join Ivan. you, everybody morning, taking Good
number results $XXX Indorama three this the quarter, slide for to our that MTBE versus polyurethanes ago. to turn January our division Adjusted with quarter was and of EBITDA Consistent last million Ventures X our year businesses and American and Let's million four. oxide fourth propylene a $XXX in was our now on business Chemical, Surfactant of sold exclude year. Intermediates together North with
polyurethane than based primarily Our China, and X%, formulated MDI for MDI in continuing resulting full the entirely MDI in running operations expansion of period. our was volumes higher a volumes now are to systems, rates comparative year in less that division elastomers from at comprised were components. ago quarter nearly up due our the
quarter favorable well In gains. addition, the last product as lines fourth as versus we saw some some market of certain in share comparison year,
downstream to polymeric some margins component remain on quarter, our our margins. relatively pressure consistent While experience we continue with stable, prior and
markets in product we committed volumes which in depressed, our strategy as overall to of well remain our addition, profitability. are investing businesses, In as pressured Regardless downstream certain short-term innovation. challenges, of
MDI that remain trends are substitution We urethanes intact. for around positive confident the long-term product
year last global the volumes to remained volumes X% due increased component grew In in foam Europe. Asia fourth particularly scale-up headwinds, spray global the global our specifically continued business challenging, facing the conditions business. wins, Overall conditions in in in of manufacturing quarter some and differentiated business with and year-over-year, our to comparisons compared our and quarter, systems total new fourth global X% MDI favorable
products composite the our due up comparisons the volumes Americas year, Looking and insulation our from prior our growth to wood were globally at to businesses fourth quarter, polyurethanes business. in favorable primarily in
products in lower-margin composite in businesses. were Softer our higher our or ACE, and volumes adhesives, coatings offset by and businesses, higher-margin elastomers, footwear wood volumes
of a build XXXX. expected by on Geismar, to be which and is track our project splitter end functional Louisiana, with in to continued the We new remains
and downstream elastomers. further support As automotive businesses in us Americas, key a markets in and reminder, this grow the as investment our to help such will
remains our acquisition business announced of is this will first in immediately start completed, close with integrate acquired as we existing to year, polyurethane quarter this of could to this the Icynene-Lapolla, on early Demilec, track that acquisition this spray When we foam as Also, in our XXXX. month. recently business possibly close
expect We leader integrated to the business excess high-growth have be EBITDA once market. in margins XX% and a this combined fully of in
for markets to push the foam continue international source our of our Additionally, be will in spray growth technologies another this to take business.
installation perfect to we due size the not a type more hope this of business the in our only do the to has and years Polyurethanes. competitive prospects to of products. alternative for forward look to example of come is of We This which foam over and advantages spray acquisition,
the Turning of elastomer growth helped into were primarily across the as as insulation and volumes region applications several by being coatings to and markets. Asian well growth Polyurethane, footwear adhesives,
higher under pressure. volumes in and remains are fourth in margins the polymeric are overall While environment very competitive the quarter, the region
are new high-margin of on what and we polymeric taking less Having products. component the in downstream August control stable focused in more can brought and capacity XXXX, volumes our differentiated on and we system
built made An ACE China. business example significant the automotive the is this continue and in and make have of markets. in our awarded recently seating to We inroads Asian new Teslas being into being
in around the that be on outdated likely region. say is near our the an events situation XX the we impact next Anything China will having today In hours. this business term, by in the immediate coronavirus in
cities and of areas and reopening. are post challenged. are of and transportation getting areas movements restrictions and significantly are barely back seen regions to work while closures Workforces we've China, other logistics while Some
pandemic difficult, TPU our how Jinshan. our long to widespread slow Short-term and this is forced MDI not remain. how facility We or effects will the are of visibility in knowing plant in Shanghai at production being
be We and will contained it have today we impact this first see. However, control. to see quarter a under expect matter We sit the our resume noticeable to first this quarter. hope is here unimpaired to matter short-term as we expect but a on business EBITDA, once that shall
overall were the increasingly and but region -- remains convincing do soft, in improvement. near-term signs volumes near macroeconomic up the see slightly we not in for our any environment Europe, In the
increasingly polymeric an the competitive in markets. in business environment margins polymeric systems. and by impacted being are our relatively the of conditions differentiated weaker and industrial component the remain Including automotive systems, despite stable Margins
acquire urethane having which strategic and our strategy Our our system complemented investments demonstrate. grow overall recent and by continue synergies business splitter is be like announcement downstream will acquisitions, will through to financial and compelling attractive new bolt-on houses our to Icynene-Lapolla metrics strong
degree our a downstream move further we high-quality other find continue similar We opportunities confidence strategic have a high will accelerate to will of that that to attractive business.
as that growth. downstream get and accelerate better unique our urethanes franchise we Our further will portfolio only was world-class a
The Driven positive substitution the well it by for will above future. MDI long-term intact, fundamentals for foreseeable remain GDP continue growth. product
demand in in remain component the short-term, Europe For Asia. margins and systems the challenged polymeric and and specifically
very down With be when visibility, segment year. little we to to first the prior expect results in compared quarter this
starting on year difficult this last we off the year's will it results. With on suspect be to improve that note, weak much for us
to turn number X. Let's slide
Materials volume adjusted driven of EBITDA quarter. compared lower million, business reported decline was Advanced adjusted decrease X% by of EBITDA a to in $XX Our the in EBITDA The $XX last million. year's
better Our segment the than overall specialty portfolio of end performed the average.
and large most PMIs notably in call, fourth either stagnating. earnings roughly Europe end in XX% Throughout region Europe contracting, to manufacturing in the third tied of this were revenues part quarter, we in stated our markets. As in this or are segment's last and
business and were Materials markets these headwinds, in XXXX evident volume softness automotive, of construction to throughout continues the and show resilience the the to second as The formulated high-value despite industrial weak. specialty Advanced It's the in margin portfolio. half results due of that important indicators the the the remain nature note to
We the portfolio. investing long-term and in of growth are to products expand innovation are confident potential this and in business the new
acquisitions Advanced are of Materials and enhancement. considering. are the a we investment that certain remains platform challenges, bolt-on for Regardless inorganic both there Additionally, core organic near-term
our of forward, likely XXXX. situation the a I although, impact not expect are China in portfolio, sector challenges the of not remain the in current Looking aerospace Furthermore, to Advanced Materials in major certain. is the part
us some improvement full first in quarter the seeing and see as is worst versus the that we signs quarter to sequential as we're our the for industrial growth However, the expect business modest behind year. well in fourth
million adjustment largely our comprised $XX Intermediates million now maleic The fourth with Chemical being to is segment amines year's Turn $XX quarter slide in reported now of of Products businesses last Surfactant reported number and segment Performance and X. to compared This as EBITDA our businesses. operations. discontinued anhydride
be business anhydride business simplified businesses. The take much further divestiture intermediates the to business these There and opportunities and grow solid downstream. good renewed now of our provide upstream maleic will focus our us and a on more amines
partially in by offset Total driven X% weaker the our segment versus were volumes and ethylene end year, amines prior growth by maleic, amines primarily performance market portfolio. demand in down
markets business the the in as growth show to furniture. foam, solutions low innovation We customers. to as continues catalyst are polyurethane and keep growth demand with our our market over as years amines, such existing support for to performance invest spray further and In well looking in pace order this with in automotive, that product intend coming VOC
margins American the on market remain maleic some European overall stable. and of North in pressure anhydride markets conditions While relatively the most the soft resin polyester unsaturated business, put volumes across our for
we expect overall to first the quarter, trends For unchanged. market remain
to near We last be expect year. EBITDA first quarter
EBITDA XXXX, Although of Performance our ethylene amines we to and we maleic year amines, expect because for full growth around in total in XXXX markets be softer to Products levels. see specialty the expect
reported that prior division quarter, of has from modestly but Effects the volumes adjusted the Textile fourth our is the were from the up largely out. quarter X, destocking by number bottomed $XX in EBITDA prior down evident slide to for the X% year. year-over-year, Total This Moving X% quarter. million down
end to with trends market-leading grew We products Demand continue foreseeable expect future. gain continue for year-over-year. the for Our these fully of base. that ecofriendly our specialty traction portfolio will customer our X% technologies
of of see onset were we the coronavirus, the Before beginning hoping some to the restocking.
yet is be this to However, seen.
the ever lowest year-end have we that are own Our inventories managed.
China more recently for supply to business expect low be level patterns order capture XXXX. of we the coronavirus, that have chain the our past Uncertainty year would business seeing to to in expect return the our year. specialty the trade with to a we of full and in footprint, been the visibility With we Yet over the growth beginning shifts to dynamic growing, normalize in global us this gives near-term. around and able
Officer. Sean? like concluding Before to sharing minutes some Chief to over our Financial turn Sean thoughts, Douglas, a I'd few
