In this industry background, we can predict that the performance of titanium dioxide enterprises is gradually getting better. Up to now, the third quarter financial reports of domestic and foreign titanium dioxide companies have been announced one after another. Let us see if our guesses can be confirmed.
General increase in operating income
We have found that domestic listed companies have experienced growth in operating income, with an increase of 5-25%. This increase fully reflects the positive impact of titanium dioxide price increases on titanium dioxide enterprises. The growth rate of corporate revenue is also related to titanium dioxide. The price increase is basically in line with the price increase. Among them, Annada performed the best, with a year-on-year increase in revenue of 23.03%, and the industry's leading company, Lienlian, grew by 6.96% year-on-year. However, taking into account the volume problem, the profit of the joint venture was 2.032 billion yuan, compared with 5.74 for Annada. 100 million yuan. In addition, Jinpu Titanium achieved operating income of RMB 608 million from January to September 2016, an increase of 9.10% year-on-year. In the first three quarters of CNNC Titanium Dioxide, the company achieved operating income of RMB 1.46 billion, an increase of 17.97% over the same period of the previous year.
Different net profits
Despite the general increase in operating income, the net profits of various companies differed considerably. Before the elimination of CNI Titanium, the net profit attributable to the shareholders of the listed company was 46,432,000 yuan, an increase of 437.56% over the same period of the previous year; the basic earnings per share was 0.0291 yuan. /share. Yanlilian made persistent efforts to achieve steady growth. The net profit attributable to the shareholders of the listed company was RMB 119 million, an increase of 103.65% year-on-year. And Annada also performed well at a net profit of RMB 19.05 million attributable to the shareholders of the listed company, an increase of 130.58% year-on-year; Due to the company's operational problems, Jinpu Titanium's net profit attributable to shareholders of listed companies was 48.39 million yuan, a year-on-year decrease of 48.84%.
Foreign titanium dioxide companies are weak
Domestic titanium dioxide business performance is good, but foreign countries are tepid. Among them, the steady growth of companies such as Chemours (Chemours), financial report shows that sales in the third quarter of 2016 reached 625 million US dollars, compared with 616 million US dollars in the same period in 2015 1.5%, sales revenue of the titanium white division accounted for 44.7% of the total sales of Chemou in the third quarter. In the third quarter, the EBITDA of the company's titanium dioxide business was adjusted to US$144 million, an increase of 80% year-on-year. Relatively backward companies such as Huntsman, sales in the third quarter of 2016 were US$2.363 billion, a decrease of 10% from US$2.638 billion in the same period of 2015. In the third quarter, the company’s titanium dioxide business adjusted for EBIT, depreciation and EBITDA reached US$272 million. Of course, there is also an excellent performance like Kronos. Compared to the loss in the third quarter of 2015, the company's titanium dioxide business profit reached US$31 million in the third quarter in 2016, making the business profit from January to September. The cumulative amount reached 48,200,000 US dollars, an increase of 65% compared with 29.2 million US dollars in the same period in 2015.
Taken together, this year's titanium dioxide business is still good. In the context of the titanium dioxide industry is still in the rising period, how to control production capacity and control cash flow is an effective use of this good market.
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