Tokai carbon black unit delivers higher sales, earnings

Tokyo – Tokai Carbon has posted a “steady performance” within its carbon black operations despite a year-on-year decline in volumes.

For the first three quarters of the year, earnings (EBITDA) increased 10.5% to Yen24 billion, on 7.4% higher sales of Yen119 billion, Tokai reported 6 Nov.

Operating income on carbon black for the nine-month period grew 2.8% year-on-year to Yen16.3 billion, continued the Japanese group.

The figures included a 6.7% year-on-year increase in third-quarter sales to Yen39.8 billion with operating income up 6.4% to Yen5.5 billion.

Tokai said volumes fell during the first three quarters due to production adjustments at tire manufacturers and other market developments.

But, sales and operating income increased due to 'passing cost increases partly onto selling prices, the impact of a weaker yen and other factors.'