Orion Engineered Carbons S.A. reported Q4 2020 net sales of $315.7 million, a decrease of $6.7 million year-over-year. Net income was $8.9 million, down $10.1 million year-over-year. Adjusted EBITDA increased by $2.8 million to $66.0 million. The company saw strong specialty volume trends and a solid quarter in the rubber business.
Net sales decreased by 2.1% year-over-year to $315.7 million.
Net income decreased by 53.0% year-over-year to $8.9 million.
Adjusted EBITDA increased by 4.4% year-over-year to $66.0 million.
Specialties volumes increased by 15.0% year-over-year, primarily in EMEA and Asia.
Orion did not provide specific EBITDA guidance for 2021 due to the uncertainty regarding COVID-19. The company's planning scenario assumes that COVID-19 does not functionally end until 2022, with 2021 Specialty and Rubber volumes roughly resembling second-half 2020 run-rates.
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