top 100 capitalise with profit growth...company and include its oil & gas segment. sales from...
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1-7 September 2017 | ICIS Chemical Business | 25www.icis.com
special report icis top 100 cHeMical coMpaNiesIN ASSOCIATION WITH
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nigel davis lOndOn & InfOgRaPhICS BY melissa bartlett lOndOn
The ICIS top 4 chemical companies led by BASF maintain their positions versus last year, while INEOS makes a major jump from #8 last year to #5 in this year’s ranking
top 100 capitalise with profit growth
T he ICIS Top 100 Chemical Compa-nies presents financial data for the leading producers ranked by sales in the most recent financial year. The
current edition tracks corporate performance in calendar year 2016 for the majority of pro-ducers while a handful of companies’ fiscal years ended in March 2017, as well as various months in 2016.
The Top 100 listing illustrates the ways
in which companies have reacted to contin-ued relatively subdued chemicals demand growth globally and volatile raw material costs and product price environment. It also reflects the considerable degree of mergers and acquisitions (M&A) activity that has been a prominent feature of the sector in the past several years.
Companies have moved up and down the rankings based on M&A activity as well as organic sales (measured in US dollars) made in in 2016.
The table also charts profit performance
at the operating level and on the bottom line. It includes total assets, research and development (R&D), capital spending and employee numbers.
Chemical producers were ultimately able to capitalise on improving global economic growth in 2016 and so far through 2017. While 2016 was generally acknowledged to have got off to a slow start, business condi-tions improved as the months progressed.
Chemicals demand was driven through the latter part of the year, particularly, by the rising oil price which prompted customers
“CONNECTING EVENTHE SMALLESTCUSTOMER WITHTHE WORLD.”Aafke DijksmaOperations Manager, Brenntag Netherlands
It has always been my dream to connect elements and to connect the world. Today, as Brenntag’s Operations Manager for the Netherlands, I’m responsible for the efficient and safe work-flow at four sites. My team and their safety are of highest interest to me. In Rotterdam harbor, Europe’s gateway to the world, Brenntag runs an important solvent hub from where we deliver large volumes to the big customers but we also connect the smaller customers with the world. It’s our job to ensure the right product gets delivered safely, to the right customer, in time – whatever the volume, wherever they’re located. And this is what I strive for every day.
Want to learn more about a job connecting the world?
Visit me at www.brenntag.com/aafkedijksma
I’m ConnectingChemistry
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special report icis top 100 cHeMical coMpaNiesIN ASSOCIATION WITH
to buy early and build a buffer of stock against the possibility of even more uncer-tain times ahead.
For the full year, volume growth was not always achieved, and certainly not at the level that many companies might have wished for.
On the other hand, prices for the major chemical commodities and polymers, driven by feedstock price expectations and, in some instances, by the lack of production plant availability, moved considerably higher.
From November 2016, prices for some commodity petrochemicals rose significant-ly with the price buoyancy continuing largely through the first quarter of 2017.
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❯❯ The sales increases and declines shown in the table for the chemical majors reflect the nature of this operating environment. Some of the largest companies in the indus-try were not able to lift sales values year on year as portfolios changed and plant availa-bility issues crimped their ability to supply.
MOveMents in the rankingsGermany-based BASF remained the largest chemical company by far in 2016 with sales of $60.6bn, though down by 18.3% versus 2015. The data shown here are for the entire company and include its oil & gas segment. Sales from that business declined sharply in 2016, largely on the divestment of BASF’s natural gas trading business to Gazprom in 2015.
Sinopec’s petrochemical sales grew at a significantly lesser rate than in the recent past, largely because of China’s slower eco-nomic growth.
With sales rising just 1.9% in 2016 to
$48.3bn, China’s Sinopec retained its #2 po-sition, but barely.
Sinopec said domestic demand for chem-icals grew steadily in 2016 with ethylene equivalent consumption rising by 3.0%. Growth reflected also the changing nature of China’s very much export oriented manu-facturing economy.
Dow Chemical retained its #3 position in the table in 2016 based on steady volume de-mand and higher prices.
At the time of writing, the merger with Du-Pont, the largest ever in the sector, was ex-pected to close on 31 August.
The combined DowDuPont will have sales of around $73bn based on their 2016 10-K annual report filings. However, the current plan is to create three new compa-nies – a materials producer, a specialties company and an agriculture company – from the combination about 18 months after the merger closes.
SABIC at #4 said 2016 was dominated by
INEOS climbed in the Top 100 rankings to #5 from #8 a year ago, as it assumed full control of significant joint ventures including its Styrolution styrenics one with former partner BASF
Click on the graph to see the top 20 companies capital spending in 2016
Copyright: <a href='http://www.123rf.com/profile_jeepc'>jeepc / 123RF Stock Photo</a>
THINKING OUTSIDE THE BOX
800.966.8799 [email protected] www.uschemicals.com
U.S. Chemicals, a Maroon Group Company – 16 Thorndal Circle, Darien, CT 06820
1-7 September 2017 | ICIS Chemical Business | 29www.icis.com
special report icis top 100 cHeMical coMpaNiesIN ASSOCIATION WITH
ICIS ColleCtS sales, operating profits, net profit, total assets, re-search and development (R&D) spending, capital spending and employee numbers data for more than 120 of the leading chemical producers. Data for earlier years are available on request.
the data for 2016 include fig-ures for the chemicals operations of the oil majors and other diversi-fied producers. We show chemicals data only for these concerns. Net sales for the latest financial year are collected wherever possible.
operating profit is as stated on the income statement or is earnings before interest and tax (eBIt), exclud-
ing exceptional items, wherever pos-sible. In some cases, information is not published at this level and earn-ings before interest, tax, depreciation and amortisation or, in a very few cases, pre-tax earnings, are used. Further information about the data collected is available on request.
Net profit is as stated by the companies concerned and includes non-controlling interests. total as-sets are as on the balance sheet. R&D expenditure and employee numbers are as reported. Capital spending is as reported or repre-sents net additions to property, plant and equipment.
All data are collected and com-
parisons made from the prior fiscal year in local currencies. Conversion to US dollars is made at the ex-change rate published by xe.com for the end of the financial year of each company. the ICIS top 100 Chemical Companies data are list-ed and ranked by the US dollar val-ue of sales.
every effort is made to extract as much data as possible for the com-panies concerned for this listing. A trend among the energy majors to report chemicals combined with refining or other downstream opera-tions means that chemicals data are not always publicly available. For 2016, Shell, total, Chevron
Phillips Chemical, PKN orlen and CePSA are not in the listing al-though sales figures and some oth-er data for these producers have been made public in the past. In some cases companies have pro-vided financial data to ICIS for the listing. INeoS, BP and figures for the major Iranian companies in the table have been provided by the companies concerned.
the data should be read in con-junction with the Footnotes to the table that describe whether cor-porate or segment data have been collected and identify the financial year end for the compa-nies concerned. ■
METHODOLOGY FOR THE ICIS TOP 100 CHEMICAL COMPANIES
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the restructuring of its strategic busi-ness units.
Meanwhile, INEOS climbed in the Top 100 rankings to #5 from #8 a year ago, as it assumed full control of significant joint ven-tures including its Styrolution styrenics one with former partner BASF.
LyondellBasell’s sales in 2016 were im-pacted by turnarounds, some required to fa-cilitate the addition of new shale-gas based production capacity.
Mitsubishi Chemical said in its 2016 fi-nancial year, which ended on 31 March 2017, chemicals sales were hit by turna-rounds and lower prices due to lower raw material prices.
Major movements in the latest rankings include the climb by INEOS, the improve-ment by Germany’s Merck KGaA, aided by the acquisition of Sigma-Aldrich, and the strong sales growth from India’s Reliance Industries on the back of new petrochemi-cal capacities.
Reliance brought on-stream new parax-ylene capacity and what it called the world’s largest and most complex ethane project in fiscal 2017. Its petrochemical earnings in fis-cal 2017 set a new record.
PROFITABILITY ROBUSTUpstream players benefitted from price in-creases and stronger margins in 2016 and this is reflected in the profits performance charted in the Top 100 analysis.
Petrochemical producers have talked in re-cent months of top of the cycle conditions in ethylene, for example.
Upstream, margins have remained strong with cash flowing into producers’ coffers. Chemical company profitability has re-mained robust with some producers, de-pending on portfolio and location, making significant gains.
Only a handful of companies reported net losses for 2016.
The Top 100 table shows operating profit or earnings before interest and tax (EBIT) before exceptional items wherever possible.
The net results for some producers will have been impacted by charges and gains in the latest reporting period and the year ear-
lier reflecting the current significance of M&A activity across the sector. Much M&A activity in recent years has been in Asia, and has involved smaller players and bolt-on acquisitions.
M&A IN PLAYProducers have sought growth in the weak economic environment and access to faster growing markets.
In terms of value, however, the steep growth in M&A activity is due to much larger transactions involving some of the bigger players in the sector.
Major realignment in agriculture has been reflected by the takeover of Syngenta by ChemChina, the DowDuPont merger and the planned merger between Bayer and Monsanto.
The table also shows the other ways in which companies are seeking to grow. The shale gas revolution in the US, market growth in India and the attraction of the Middle East (including Iran) and Russia as production locations are reflected in the capital spending data in the table.
Research and development (R&D) pro-vides the lifeblood for some companies and R&D spending for the few continues to grow accordingly. The data to some extent, how-ever, reflect the increased focus on R&D ef-ficiencies and the way costs for all chemical producers are closely scrutinised. ■
Chemical company profitability has remained robust with some producers, depending on portfolio and location, making significant gains. Only a handful of companies reported net losses for 2016
U.S. ChemiCalS and maroon Group are honoured to return as sponsors of the 2017 iCiS Top 100 Chemical Companies ranking.
We are proud of our asso-ciation with many of the companies highlighted in this special report. and, we look forward to continuing to being a valued partner for them as exhibited by our tech-nical sales expertise, excep-tional customer service and global sourcing capabilities.
maroon Group continues to be one of the fastest growing specialty chemical and ingredient distributors in North america. Based in avon, Ohio, in the US, maroon Group thrives on creating success for customers by forming partnerships with global manufacturers and supplying world-class prod-ucts and value-add service offerings.
maroon Group operating companies include addipel, Cadence Chemical, CNX Distribution, DB Becker, lincoln Fine ingredients, maroon, Polyram USa and U.S. Chemicals. The company continues to aggressively ex-plore opportunities to expand via organic growth and strate-gic acquisitions. additional information about maroon Group and each of our compa-nies can be found at www.maroongroupllc.com. ■
SPONSOR SPOTLIGHT
U.S. CHeMICALS, MAROON GROUP ARe 2017 SPONSORS
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Click on the graph above to see the top 20 companies by operating margin for 2016
IN ASSOCIATION WITH
www.icis.com32 | ICIS Chemical Business | 1-7 September 2017
special report icis top 100 cHeMical coMpaNies
the icis top 100 cheMicAL coMpANiesRank 2016
Company Sales Operating profit Net profit Total assets R&D Capital spending Employees2016 % change 2016 % change 2016 % change 2016 % change 2016 % change 2016 % change 2016 % change
$m, change in reporting currencies1 BASF 60,557 -18.3 6,639 -6.4 4,268 1.7 80,493 8.0 1,960 -4.6 4,606 -23.8 113,830 1.22 Sinopec 1 48,255 1.9 2,970 5.9 - - - - - - - - - -3 Dow Chemical 48,158 -1.3 5,075 -18.0 4,318 -45.1 79,511 17.0 1,584 -0.9 3,804 2.7 56,000 13.14 SABIC 35,415 -10.3 7,140 -6.1 4,756 -5.0 84,492 -3.5 - - 3,492 -33.7 35,000 -12.55 INEOS 32,870 28.0 4,652 21.5 - - - - - - - - - -6 Mitsubishi Chemical
Holdings 330,296 -4.7 2,590 7.4 1,943 106.5 40,055 5.7 1,133 -0.4 1,853 -3.1 69,291 0.4
7 LyondellBasell Industries 29,183 -10.9 5,060 -17.3 3,387 -24.3 23,442 3.0 99 -2.9 2,243 55.8 13,000 0.08 ExxonMobil Chemical 1 26,058 -7.4 5,917 3.9 4,615 4.5 30,053 5.8 - - 2,207 -22.4 - -9 DuPont 24,594 -2.1 4,640 9.4 2,513 28.7 39,964 -2.9 1,641 -13.5 1,038 -39.1 46,000 -11.510 Air Liquide 19,083 10.7 3,220 10.9 2,028 4.8 46,423 52.4 - - - - 67,000 31.211 Toray 3 18,185 -3.7 1,318 -4.9 892 10.3 21,508 - - - - - - -12 Linde 17,834 -2.3 2,316 -0.9 1,396 7.4 37,028 -0.4 138 8.3 2,109 -1.6 59,715 -0.113 Sumitomo Chemical 3 17,538 -7.0 1,206 -18.3 1,050 4.1 25,684 7.5 - - 1,168 25.4 - -14 Braskem 17,504 3.8 1,870 -14.2 -243 - 16,316 -13.9 - - 897 -30.8 - -15 LG Chem 17,112 2.2 1,650 9.2 1,061 11.5 16,970 10.3 552 12.3 1,638 14.7 - -16 Merck KgaA 15,809 17.0 2,610 34.6 1,714 46.1 40,250 0.4 2,079 15.6 760 28.0 - -17 Johnson Matthey 3 15,080 12.3 618 17.7 484 18.4 5,850 15.0 211 4.3 332 3.1 12,214 -2.218 AkzoNobel 14,939 -4.5 1,598 -3.4 1,109 -0.6 17,042 1.5 382 4.6 667 -2.6 45,800 0.419 PPG Industries 14,751 -0.1 - - 877 -37.6 15,769 -7.7 487 -1.4 751 -3.0 47,000 0.920 Reliance Industries 1,3 14,257 12.2 1,989 26.6 - - - - - - - - - -21 Agrium 13,665 -7.6 820 -39.9 596 -39.7 16,963 3.6 - - 724 -39.1 - -22 Syngenta 13,458 -4.6 2,235 -4.7 1,653 -4.4 20,064 0.5 1,367 -4.6 590 -3.8 27,810 -3.123 Evonik 13,397 -5.7 1,873 -13.7 903 -14.4 20,672 15.5 461 0.9 788 11.1 28,430 1.624 Ecolab 13,153 -2.9 1,915 22.7 1,230 22.8 18,330 -1.7 189 -1.0 707 -8.3 47,565 0.925 Covestro 12,526 -1.5 1,401 41.3 837 131.8 10,769 -2.8 270 -0.8 438 -16.5 15,579 -1.226 Solvay 11,999 13.1 1,012 38.4 709 48.5 25,407 -4.7 321 12.5 1,032 -5.4 - -27 Sherwin-Williams 11,856 4.6 1,595 3.0 1,133 7.5 6,753 16.9 - - 239 2.1 42,550 4.528 Shin-Etsu Chemical 3 11,104 -3.3 2,141 14.4 1,579 18.2 23,831 5.8 477 8.4 1,301 7.6 - -29 Yara International 11,015 -11.8 1,058 -36.5 731 -25.1 13,936 1.4 36 - - - 14,736 14.430 Lotte Chemical 10,954 12.9 2,111 58.2 1,488 81.2 - - - - - - - -31 Mitsui Chemicals 3 10,879 -9.8 916 44.0 582 181.7 11,895 5.3 276 -2.2 407 4.6 13,423 -0.232 Praxair 10,534 -2.2 2,328 0.3 1,500 -3.0 19,332 5.5 92 -1.1 1,462 -5.1 26,498 -0.633 Bayer 4 10,433 -2.1 1,997 1.4 - - - - - - - - - -34 Formosa Chemicals & Fibre
(Taiwan)9,844 -3.1 1,031 72.6 1,504 54.2 16,790 6.1 - - - - - -
35 PTT Global Chemical 9,760 -13.5 - - 724 24.5 10,992 4.1 - - - - 6,346 3.736 Huntsman 9,657 -5.6 647 59.8 357 183.3 9,189 -6.4 152 -5.0 390 -39.8 15,000 0.037 Sekisui Chemical 3 9,564 -2.8 866 7.4 546 7.4 8,468 0.8 31 - 394 -11.7 - -38 Air Products 5 9,524 -3.7 2,106 23.3 631 -50.6 18,055 4.2 132 -3.6 1,056 -11.7 18,600 -5.639 Henkel Adhesive
Technologies9,429 -0.3 1,714 6.2 - - - - - - - - - -
40 Eastman Chemical 9,008 -6.6 1,383 -0.1 859 0.6 15,457 -0.8 219 -9.5 626 -4.0 14,000 -6.741 Asahi Kasei 1,3 8,771 -3.1 758 6.6 - - - - - - - - - -42 DSM 8,334 2.6 721 89.2 653 605.7 13,635 10.3 448 -8.2 500 -11.4 20,786 0.043 LANXESS 8,101 -2.6 541 21.8 202 16.4 10,393 36.8 138 0.8 462 1.2 16,721 3.144 Persian Gulf Petrochemical
Industries Company (PGPIC)8,068 -22.1 1,676 -19.2 1,812 -24.3 16,262 1.3 40 -39.4 1,243 90.6 16,196 15.2
45 Arkema 7,929 -1.9 754 46.9 451 49.0 6,585 12.8 234 6.2 445 -1.9 19,637 3.846 SK Global Chemical 7,790 -16.4 763 113.7 567 114.0 4,845 1.2 - - 117 30.0 - -47 Borealis 7,595 -6.3 987 30.6 1,165 12.1 10,451 7.2 120 - 404 -1.8 6,494 2.648 Sasol 6 7,358 -2.5 1,067 -31.2 - - - - - - - - 12,487 1.449 Teijin 6 7,217 -6.3 550 - - - - - - - - - - -50 Mosaic 7,163 -19.5 319 -75.1 301 -69.9 16,841 -3.2 - - 843 -15.7 8,700 2.151 Indorama Ventures 7,118 8.5 515 110.1 457 137.5 7,223 16.6 - - 375 30.4 - -52 SIBUR 6,722 8.4 1,683 13.7 1,846 - 14,465 4.7 - - 2,314 76.1 - -53 Hanwha Chemical 6,672 0.2 117 -58.1 9 -93.7 10,434 -9.1 - - - - - -54 Tosoh 6,668 -1.4 998 60.2 679 90.7 7,023 6.5 129 4.6 339 35.2 12,962 7.755 DIC Corp 6,424 -8.4 463 6.1 297 -7.0 6,539 -1.8 104 8.5 - - - -56 Clariant 5,984 0.7 637 4.4 269 15.9 8,561 12.1 211 0.0 304 -20.6 17,442 1.3
www.icis.com 1-7 September 2017 | ICIS Chemical Business | 33
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Rank 2016
Company Sales Operating profit Net profit Total assets R&D Capital spending Employees2016 % change 2016 % change 2016 % change 2016 % change 2016 % change 2016 % change 2016 % change
$m, change in reporting currencies57 Parsian Oil & Gas
Development Co (POGDC)5,708 11.6 1,398 -15.2 1,570 -15.4 7,657 6.0 - - 335 -15.4 12,262 2.9
58 Wacker-Chemie 5,687 2.0 385 -22.6 199 -21.7 7,852 2.7 193 4.6 450 -48.7 17,205 1.459 Celanese 5,389 -5.0 893 173.9 906 217.9 8,357 -2.7 78 -34.5 247 -48.9 7,293 3.060 Formosa Petrochemical Corp 1 5,365 -7.9 - - - - - - - - - - - -61 ICL (Israel Chemicals) 5,363 -0.8 -3 - -172 - 8,552 -5.8 73 -1.4 652 -48.7 13,414 -4.562 Sojitz 5,353 -6.2 - - - - - - - - - - - -63 Mexichem 5,350 -4.7 514 -0.4 238 76.3 8,806 1.6 27 - 414 -37.8 18,321 -2.664 SCG Chemicals 5,260 -6.1 1,669 39.2 1,177 47.7 - - - - - - - -65 Taiyo Nippon Sanso 1 5,136 -2.2 419 16.4 - - - - - - - - - -66 Westlake Chemical 5,075 13.7 581 -39.5 420 -36.8 10,890 95.5 - - 628 27.9 8,870 109.967 BP 1 5,015 -6.0 384 131.3 - - - - - - - - - -68 Mitsubishi Gas Chemical 1 4,994 -6.2 393 28.6 430 40.5 6,655 0.3 172 1.6 314 14.7 8,034 -1.769 RPM International 7 4,958 3.0 327 -42.1 185 -48.2 5,090 6.8 65 4.8 126 7.7 14,318 10.170 Kaneka 3 4,920 -1.3 298 -13.2 184 -2.4 5,321 6.4 - - - - - -71 Alpek (Grupo Alfa) 4,877 7.9 533 29.9 270 36.2 4,948 22.2 3 12.7 17 -8.1 5,280 3.672 Givaudan 4,773 6.1 896 10.2 659 3.0 6,667 3.7 409 9.3 - - 10,476 5.773 Formosa Plastics 4,641 -4.3 1,340 26.8 - - 13,493 11.4 - - - - 6,316 4.874 PotashCorp 4,456 -29.0 830 -63.4 323 -74.6 17,255 -1.2 - - - - 5,130 -4.975 Versalis 8 4,415 -11.0 285 -13.4 234 -35.5 2,906 -2.6 39 2.8 254 10.6 5,085 -1.176 Lonza 4,229 8.7 497 13.6 308 8.7 6,988 9.3 86 -18.4 375 50.0 10,130 3.177 Valspar 9 4,191 -4.6 525 -18.6 353 -11.6 4,315 0.0 139 4.5 120 23.7 11,100 0.078 Kuraray 4,148 -7.0 580 2.6 345 13.0 6,202 3.4 170 3.6 458 19.1 8,590 2.279 Tasnee 4,052 0.3 - - 56 -114.6 11,555 -3.6 - - 1,322 32.8 - -80 GS Caltex 1 3,977 -12.5 431 10.9 - - - - - - - - - -81 Daicel 3 3,949 -2.2 577 -0.1 388 7.2 5,382 7.1 151 9.8 355 -1.8 - -82 Orica 5 3,904 -9.9 492 -6.2 272 - 5,056 -9.9 - - 36 -51.4 11,500 -4.283 Occidental Chemical 3,756 -4.8 571 5.4 366 6.7 4,348 9.2 - - 324 27.6 - -84 Trinseo 3,717 -6.4 491 22.3 318 137.3 2,410 6.7 51 -1.7 124 15.7 2,197 -3.285 CF Industries 3,685 -14.5 134 -88.8 -158 - 15,131 19.3 - - 2,211 -10.4 2,900 3.686 K+S 3,637 -17.2 241 -70.7 184 -64.8 10,150 16.6 14 -6.8 1,232 -8.4 14,530 1.087 Monsanto 1 3,514 -26.15 116 -91.0 - - - - - - - - - -88 JSR 3 3,505 1.0 290 -5.9 270 25.0 5,169 11.6 - - 243 -19.8 - -89 NOVA Chemicals 3,512 -1.9 1,039 9.0 649 22.0 6,673 3.7 - - 518 5.7 2,700 -90 Hexion 3,438 -17.0 244 -6.2 -38 - 2,055 -13.7 - - 140 -9.9 - -91 PolyOne 3,340 -1.1 282 12.4 165 13.8 2,723 4.9 55 3.8 82 -9.9 7,000 1.492 Honeywell 10 3,327 -5.2 - - - - - - - - - - - -93 FMC 3,282 0.2 422 - 209 -57.3 6,139 -3.0 142 -1.4 131 24.8 5,900 -1.794 IFF 3,116 3.1 567 -3.6 405 -3.3 4,017 8.5 254 3.3 126 24.8 6,932 3.095 Petronas Chemicals Group 3,090 2.4 916 7.23 718 4.2 7,122 3.6 - - 764 19.9 - -96 ADAMA Agricultural Solutions 3,070 0.2 347 14.5 183 47.6 4,287 -1.0 33 10.0 - - 4,955 1.997 Symrise 3,055 11.6 445 7.1 280 7.7 5,001 13.6 196 9.4 177 14.3 8,944 7.798 Ashland 1, 5 3,019 -11.7 119 -63.5 - - - - - - - - 11,000 4.899 Showa Denko 1 2,738 -14.3 295 62.4 - - - - - - - - - -100 Asahi Glass 1 2,707 -0.6 342 31.1 - - - - - - - - - -
1 Chemicals only2 Chemicals and fertilizers only3 Fiscal year ended 31 March 20174 Crop science segment only5 Fiscal year ended 30 September 20166 Fiscal year ended 30 June 20167 Fiscal year ended 31 May 20168 Adjusted operating and net profits9 Fiscal year ended 28 October 201610 Advanced Materials segment11 Fiscal year ended 3 December 2016
■ Currency exchange rates at end of company fiscal years used in conversions to $
■ Currency exchange rates 31 December 2016: $1 = €0.9503, Chinese RMB 6.9447, Japanese yen 116.97, South Korean won 1,207, Brazilian reais 3.1660, Thai baht 35.77, New Taiwan dollar 32.43, Norwegian kroner 8.65, Mexican peso 18.49, Swiss franc 0.9771, Iranian riyal 32,376, Malaysian ringgit 4.4860, Russian
rouble 61.27, Qatari riyal 3.6408, Turkish lira 3.5260
■ Currency exchange rates 31 March 2017: $1 = Japanese yen 111.43, British pound 0.7978, Indian rupee 64.86
■ Currency exchange rates 30 September 2016: $1 = Australian dollar 1.3044
■ Currency exchange rates 30 June 2016: $1 = Japanese yen 102.71, South African rand 14.77
FOOTNOTES ExchaNgE raTE
NIgEL DaVIS LONDON & JOSEPh chaNg NEW YORK
www.icis.com34 | ICIS Chemical Business | 1-7 September 2017
special report icis top 100 cHeMical coMpaNies
Rank 2016
Company Sales Operating profit Net profit Total assets R&D Capital spending Employees2016 % change 2016 % change 2016 % change 2016 % change 2016 % change 2016 % change 2016 % change
$m, change in reporting currencies101 Albemarle 2,677 -5.3 575 66.7 479 46.5 8,161 -15.8 80 -10.1 197 -13.6 5,000 -28.2102 Nippon Shokubai 3 2,638 -9.0 190 -32.3 174 -25.5 3,891 6.3 119 8.0 335 18.7 4,161 3.9103 Zeon 3 2,581 -2.7 276 3.1 208 28.1 3,692 6.9 - - - - 3,090 -2.3104 Incitec Pivot 5 2,571 -7.9 105 -73.1 99 -67.6 6,644 -5.8 8 5.2 333 18.3 4,500 -18.2105 Kemira 2,487 -0.4 155 10.9 103 26.8 2,758 1.0 34 0.0 222 86.0 4,818 2.8106 Cabot 5 2,411 -16.0 250 - 164 - 3,158 2.7 53 -8.6 112 -20.6 4,300 -6.5107 Fuchs Petrolub 2,385 9.0 370 8.6 274 10.2 1,764 12.5 46 12.8 98 0.9 4,898 1.6108 Ube 1,3 2,318 -3.1 86 -20.0 - - - - - - - - - -109 Momentive Performance
Materials2,233 -2.4 -84 - -163 - 2,602 -2.3 64 -1.5 115 0.0 - -
110 Altana 2,183 0.8 346 31.1 221 32.9 3,214 3.0 136 0.8 - - 5,967 -2.1111 Industries Qatar 2 2,096 -16.3 471 -53.9 - - - - - - - - - -112 H.B. Fuller 11 2,095 0.5 202 18.1 124 42.5 2,058 0.8 29 11.5 63 18.0 4,587 3.7113 Tata Chemicals 3 2,084 -12.7 228 23.4 194 22.6 3,702 -3.1 6 1.3 101 -6.4 4,115 -4.4114 Methanex 1,998 -10.2 28 -88.2 -28 - 4,557 0.0 - - 100.0 3.1 1,300 0.4115 SQM 1,939 12.2 414 37.5 278 30.5 4,219 -9.2 - - 131 10.0 4,751 11.8116 Tessenderlo 1,673 0.1 130 19.2 89 21.4 1,430 4.2 8 -20.0 - - 4,530 -3.0117 Chemtura 1,654 -5.2 46 -71.6 -15 - 2,168 -8.4 21 5.0 88 10.0 2,500 0.0118 W.R. Grace 1,599 -1.8 400 15.6 90 -37.5 2,907 -20.3 49 4.3 117 1.7 3,700 -44.8119 Rabigh Refining and
Petrochemical 11,526 -4.8 206 -15.5 202 -18.3 10,721 13.9 - - - - - -
120 IRPC Public Company 1 1,457 -1.9 - - - - - - - - - - - -121 Pemex 1 1,335 -6.0 - - - - - - - - - - - -122 Petkim Petrokimya 1 1,286 0.0 224 47.8 214 22.4 1,553 13.0 4 8.9 - - 2,395 -3.1NOTES: Shell, Total Chevron Phillips Chemical, CEPSA and PKN Orlen chemicals data not available this year. Latest Denka numbers not avaxilable yet. Operating profit used. Otherwise EBIT before exceptional items.
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