On March 12, Kronos, the world’s fourth-largest titanium dioxide producer, announced its 2017 annual financial report. It achieved net sales of US$1.729 billion for the full year, an increase of 21.09% year-on-year; operating profit was US$330.4 million, a year-on-year increase. 75.45%; Net profit was $354.5 million, an increase of 87.79% year-on-year.
According to the report, Connors sales amounted to 586,000 tons in 2017 and 559,000 tons in 2016; the output was 576,000 tons, and 2016 was 546,000 tons. Compared with 2016, the sales price of titanium dioxide increased by 22% year-on-year in 2017, and the sales volume of titanium dioxide increased by 5% year-on-year.
According to the report, net sales increased by 27% year-on-year in 2017, mainly due to the increase in average selling price and sales volume of titanium dioxide, and the increase in net sales; annual net profit increased by 87.79% year-on-year, mainly due to higher average sales. Prices, higher sales and production, and higher raw materials and other production costs have led to increased operating income.