LyondellBasell Industries announced earnings from continuing operations for the fourth quarter 2012 of $645 million, or $1.13 per share. Fourth-quarter 2012 EBITDA was $1,289 million. Full year 2012 income from continuing operations was $2,858 million, or $4.96 per share.
Full Year 2012 Highlights - Record earnings of $2,858 million income from continuing operations or $4.96 diluted earnings per share; EBITDA of $5,856 million - Strong performance led by advantaged positions in Olefins and Polyolefins – Americas and Intermediates and Derivatives segments - Paid $2.4 billion in dividends, or $4.20 per share, a yield of approximately 7 percent - Joined the S&P 500 index Fourth Quarter 2012 Highlights - $645 million income from continuing operations or $1.13 diluted earnings per share, and EBITDA of $1,289 million - Strong North America olefins margins with approximately 85 percent of ethylene production sourced from natural gas liquids (NGLs) - Business followed the typical fourth quarter trends - Paid a special dividend of $2.75 per share or $1.6 billion "Our fourth quarter results were in line with seasonal trends and our expectations, contributing to a record year for LyondellBasell," said Jim Gallogly, LyondellBasell Chief Executive Officer.
"During 2012, we generated income from continuing operations of $2,858 million or $4.96 per share. Our North American olefins business and our Intermediates and Derivatives segment set the pace for the year's strong performance. The benefits of our focused back-to-basics strategy were clearly demonstrated as reliable manufacturing operations allowed us to take advantage of favorable market conditions. The U.S. shale gas revolution is clearly visible in our current results as well as future growth plans," Gallogly said.
"Over the past two and a half years, the company has advanced every facet of its business processes, including safer and more reliable operations, strict cost control and refurbishing its assets through a large number of major turnarounds. This work has enabled strong returns to shareholders, a strengthened balance sheet, and a significant capital growth program. Our employees' hard work and dedication have contributed to our strong operational and financial performance," Gallogly said.
"During the year, we paid dividends of more than $2.4 billion, or $4.20 per share, contributing to an annual shareholders' return of 89 percent. Our success was further recognized through our addition to the S&P 500 index and Moody's raising our credit rating to investment grade," Gallogly said.
