Nouryon reports 2021 earnings, strong demand and pricing initiatives drive strong growth

2021 performance highlights:

●Sales were $4.
9 billion, up 17% year-over-year

● Adjusted EBITDA of $1.
1 billion, up 10% year over year

● Free cash flow of $781 million, up 4% year over year

Nouryon released full-year 2021 results with sales of $4.
9 billion, up 17% year over year, driven by volume growth and pricing initiatives
.
Excluding the impact of foreign exchange and mergers and acquisitions, sales rose 13%
.
Adjusted EBITDA rose 10% year-on-year despite significantly higher costs in raw materials, energy and logistics
.
Volumes were the main driver of profit growth, with additional benefits from pricing, cost improvement initiatives and foreign exchange, although cost pressures still offset some earnings
.

Charlie Shaver, chairman and chief executive officer of Nouryon, said: "Nouryon's full-year 2021 financial results reflect our strength in key end markets and our ability to continue to face many logistical challenges in our global supply chain.
The ability to deliver record product sales to customers
.
We accelerated our pricing initiatives in the fourth quarter, increasing prices by 11% year over year to support strong adjusted EBITDA growth for the full year
.
"

Overall full-year sales in the High Performance Solutions business segment increased 21 percent to more than $3.
4 billion
.
Adjusted EBITDA rose 15% to $755 million
.
Sales growth was particularly strong in several key markets, including agriculture and food, cleaning products, oil and gas, packaging, pharmaceuticals, and apparel
.
Adjusted EBITDA margin for the High Performance Solutions business unit was 21.
9%
.

Full-year sales in the Technology Solutions business unit increased overall 8 percent to nearly $1.
5 billion, driven by strong growth in Asia Pacific and EMEA, as well as increased production from the launch of two new plants in China
.
Adjusted EBITDA fell 3% to $326 million due to higher raw material and energy costs
.
Adjusted EBITDA margin for the Technology Solutions business unit was 22.
3%
.

In 2021, Nouryon received a Gold rating from EcoVadis, the world's largest provider of business sustainability ratings, for its outstanding sustainability performance, placing Nouryon in the top 3 of all companies participating in the EcoVadis global assessment %
.

Nouryon also completed the spin-off of its basic chemicals business Nobian in July 2021, which is now a separate company still owned by Nouryon's equity owners, The Carlyle Group and GIC
.