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PolyOne Corporation reported a revenue increase of 9% to US$3.5 billion in 2018.
PolyOne Corporation reported a revenue increase of 9% to US$3.5 billion in 2018.

PolyOne Corporation reported a revenue increase of 9% to US$3.5 billion in 2018 driven by organic growth of 5%, as acquisitions contributed 3% and foreign currency added 1%.

The 2018 financial performance showed that PolyOne’s adjusted EPS increased 10%, representing the 9th consecutive year of adjusted EPS growth.

According to the company, its investments in commercial resources and specialty acquisitions continued to drive the expansion with Color, Additives and Inks segment leading the way. For the year, Color increased revenue and operating income by 17% and 14%, respectively.

"Overall, I am incredibly pleased with our performance this year when considering that we incurred significantly higher raw material and logistics costs.  We also overcame a more recent slowdown in demand in certain end markets and geographies which negatively impacted the second half of the year," said Robert M. Patterson, Chairman, President and Chief Executive Officer, PolyOne Corporation.

Softening demand conditions in the fourth quarter most heavily impacted the Performance Products and Solutions (PP&S) and Specialty Engineered Materials (SEM) segments. Specifically, end markets negatively impacting PP&S were building & construction and appliance. SEM was impacted by a more recent decline in demand in Europe and Asia primarily in transportation and consumer end markets.

In 2018, PolyOne acquired two specialty companies, IQAP and PlastiComp, and completed a third acquisition, Fiber-Line, in January of 2019.

Commenting on the company's outlook, Mr. Patterson said, "Many companies are citing softening conditions in certain end markets and geographies. We certainly saw this at the end of 2018 and expect these conditions to continue into the beginning of this year. Fortunately, with the investments we have made, the breadth of our portfolio of technologies, and the organization we have in place, we are better positioned to navigate these near-term dynamics than ever before."

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