(bizjournals) -- Oxea, a leading global supplier of Oxo Intermediates and Oxo Derivatives, today announced a significant earnings increase for the first quarter of 2012 compared to the fourth quarter of 2011. Net sales of EUR372 million were up by 13% and Adjusted EBITDA amounted to EUR45million reflecting an increase of 25% from the fourth quarter of 2011.
After a challenging fourth quarter of 2011 which was affected by the softening of the world economy and destocking activities along the value chain in the entire industry, Oxea was able to significantly increase revenues and EBITDA during the first quarter of 2012. This positive trend was recognized across the entire product portfolio.
Despite the difficult macroeconomic environment still affected by the financial turbulence stemming from the European debt crisis, Oxea's Adjusted EBITDA of EUR45 millionclearly outperformed the expectations for the first quarter of 2012.