Summary of Financial Results for the World’s Top 50 Chemical Companies in FY 2022

【Answer 1】 Nouryon’s 2022 sales amounted to approximately USD 5.8 billion, up 17% year-on-year; adjusted EBITDA rose 15% year-on-year to USD 1.24 billion. III. North America Dow achieved net sales of USD 56.9 billion in 2022, down 3.45% year-on-year; net profit declined by over 27% to USD 4.64 billion. In Q4, net sales totaled USD 11.859 billion, down 17.6% year-on-year; net profit stood at USD 647 million, down 64.05% year-on-year. LyondellBasell reported 2022 sales of USD 50.45 billion; net profit was USD 3.9 billion, down from USD 5.6 billion in the prior year; EBITDA was USD 6.3 billion, down from USD 8.7 billion. Nutrien’s 2022 sales reached USD 37.884 billion, up 37% year-on-year; EBITDA was USD 12.2 billion, up 71% year-on-year; net profit was USD 7.7 billion, up 142% year-on-year. Sherwin-Williams achieved full-year net sales of USD 22.149 billion (approximately RMB 149.5 billion), up 11.1% year-on-year; net profit was USD 2.0201 billion, up 8.35% year-on-year. Mosaic’s 2022 revenue was USD 19.1 billion, up 55% year-on-year; adjusted EBITDA was USD 6.2 billion, up 73% versus 2021; net income was USD 3.6 billion, up 120% year-on-year. PPG Industries’ 2022 net sales were USD 17.7 billion, up about 5% year-on-year; net profit was USD 1.028 billion, down 28% year-on-year. Corteva’s full-year 2022 net sales rose 11% year-on-year to USD 17.46 billion; GAAP net profit was USD 1.22 billion, down 33%; adjusted EBITDA was USD 3.22 billion, up 25%. Westlake Chemical Group’s 2022 net sales were USD 13.4 billion; net profit was USD 3.35 billion. DuPont’s 2022 net sales rose 8% year-on-year to USD 13.0 billion; EBITDA was USD 3.26 billion, up 3%; GAAP net profit was USD 1.06 billion, down 12%. Air Products’ fiscal year 2022 sales were USD 12.7 billion, up from USD 10.3 billion in the prior year; net income attributable to the company was approximately USD 2.3 billion, up from USD 2.1 billion. Eastman Chemical’s full-year 2022 sales totaled USD 10.58 billion, essentially flat versus 2021; EBIT was USD 1.159 billion, slightly below USD 1.281 billion in 2021; adjusted EBIT was USD 1.339 billion, down 18% year-on-year. CF Industries’ 2022 net sales were USD 11.19 billion, versus USD 6.54 billion in 2021; net profit was USD 3.35 billion; adjusted EBITDA was USD 5.88 billion. Celanese’s 2022 net sales were USD 9.7 billion—the highest in its history—up 13% year-on-year; consolidated operating profit was USD 1.4 billion; adjusted EBIT was USD 2.2 billion. Huntsman’s 2022 revenue was USD 8.023 billion; net profit attributable to shareholders was USD 460 million; adjusted net profit was USD 636 million; adjusted EBITDA was USD 1.155 billion.

Summary of Financial Results for 20 Chemical Giants in 2024

【Answer 2】 On February 6, Honeywell announced its full-year 2024 results: total sales reached USD 38.5 billion, up 5% year-on-year; organic sales grew 3%. Operating income totaled USD 7.441 billion, up 5% year-on-year; operating margin remained flat, while segment profit rose 1% and segment margin contracted by 90 basis points—driven by strong performance in long-cycle businesses within Industrial Automation, outpacing short-cycle recovery. Additionally, Honeywell announced plans to spin off into three independent, publicly traded companies: Automation, Aerospace, and Advanced Materials. The Chemours Company On February 18, The Chemours Company released its fiscal year 2024 results: net sales were USD 5.8 billion, down 5% year-on-year; net profit was USD 86 million (versus a loss of USD 2.37 billion in the prior year); adjusted EBITDA was USD 786 million, down 22% year-on-year. Additionally, the financial report indicated that Chemours has initiated a strategic review of the asset footprint of its European Advanced Performance Materials (APM) business. LyondellBasell On January 31, LyondellBasell Industries announced its full-year 2024 results: net income was USD 1.4 billion, down 35.6% year-on-year; EBITDA was USD 3.5 billion, down 23.4% year-on-year; EBITDA excluding identified items was USD 4.3 billion. The company attributed this primarily to adverse conditions across global petrochemical markets in 2024—including weak global demand, rising raw material costs, and economic uncertainty. Broadly soft demand for durable goods pressured margins across its Olefins & Polyolefins and Intermediates & Derivatives segments. Meanwhile, margin recovery in its Advanced Polymer Solutions segment was constrained by declining global automobile production. Comparisons with the prior quarter (Q4 2023) and full-year 2023 are provided in the table below: ExxonMobil On January 31, ExxonMobil announced full-year 2024 earnings of USD 33.7 billion, down 6.5% versus USD 36.0 billion in 2023; operating cash flow was USD 55.0 billion, and free cash flow reached USD 34.4 billion. In Q4 2024, earnings totaled USD 7.6 billion, down 11.6% sequentially; operating cash flow was USD 12.2 billion, and free cash flow was USD 8.0 billion. Eastman Chemical On January 30, Eastman Chemical Company released its fiscal year 2024 results: sales revenue was USD 9.382 billion, up 1.88% year-on-year from USD 9.210 billion in 2023; EBIT was USD 1.278 billion, down slightly from USD 1.302 billion in 2023; adjusted EBIT was USD 1.298 billion, up 18% year-on-year from USD 1.097 billion; operating cash flow was USD 1.287 billion, down from USD 1.374 billion in 2023. LG Chem On February 3, LG Chem announced its 2024 financial results: consolidated revenue (including LG Energy Solution) totaled KRW 48.9161 trillion, down 11.46% year-on-year; operating profit was KRW 916.8 billion, down 63.75% year-on-year.

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