20 Companies! Summary of Chemical Giants’ 2024 Financial Results!

Celanese On February 18, Celanese—a global chemical and specialty materials company—announced its full-year 2024 net sales of $10.3 billion, down 6% year-on-year, primarily due to persistently weak global demand across key end markets including automotive, paints & coatings, construction, and industrial sectors, which weighed on performance throughout the year. In 2024, the company reported a consolidated operating loss of $697 million; adjusted EBIT was $1.6 billion (down 6% YoY); and EBITDA was $2.4 billion. Corresponding margins were (7%) for operating margin, 16% for adjusted EBIT margin, and 23% for EBITDA margin. Additionally, Celanese announced plans to cease production and shut down its Mylar specialty film manufacturing operation in Luxembourg—a 50/50 joint venture with Teijin. This move aligns with the company’s core principle of exiting high-cost facilities. Lanxess On January 20, Lanxess issued a preliminary earnings announcement, forecasting Q4 2024 EBITDA of approximately €159 million—22% above the current market consensus of €130 million (VARA consensus). Accordingly, full-year 2024 EBITDA before non-recurring items is expected to reach approximately €614 million, up ~20% year-on-year and at the upper end of the previously guided growth range of 10–20%. The strong Q4 performance was driven primarily by better-than-expected December sales, especially due to customer pre-purchasing. This early-sales effect occurred mainly in the U.S., particularly for products from the Specialty Additives and Consumer Protection divisions. Huntsman On February 17, Huntsman Corporation released its 2024 financial results: full-year revenue totaled approximately $6.0 billion, with a net loss of $189 million. In Q4 2024 alone, revenue amounted to $1.452 billion; net loss attributable to Huntsman was $141 million; adjusted net loss attributable to Huntsman was $43 million; and adjusted EBITDA stood at $71 million. Huntsman’s quarterly results for the first three quarters of 2024 were as follows: Q3 revenue was $1.54 billion with a net loss of $33 million; Q2 revenue was $1.574 billion with net income of $22 million; Q1 revenue was $1.47 billion with a net loss of $37 million. Syensqo On February 27, Syensqo published its 2024 financial results: net sales totaled €6.6 billion, reflecting an organic decline of 3%, primarily driven by price reductions (−4%); EBITDA reached €1.4 billion, in line with expectations. In Q4 2024, net sales amounted to €1.6 billion, representing an organic increase of 2%, largely attributable to volume growth (+3%); EBITDA was €298 million, up 5% organically, with contributions from both Materials and Consumer & Resources businesses. Furthermore, in 2025, Syensqo will continue evaluating options to accelerate value creation—including asset divestitures—to become a more focused specialty chemicals company. Building upon the already-decided divestiture of its oil & gas business, the company plans to pursue a similar strategy for its flavors and functional chemicals business.

Zhongzhi Weiyie Information | Q3 Financial Results of the World’s Top 50 Chemical Enterprises Released!

Yuntianhua: Q3 2024 revenue totaled RMB 18.084 billion, down 8.83% year-on-year; net profit was RMB 1.027 billion, down 27.80% YoY. For the first three quarters of 2024, revenue totaled RMB 53.303 billion, down 5.59% YoY; net profit attributable to shareholders of the listed company was RMB 3.704 billion, down 27.80% YoY. Xinfengming: Q3 2024 revenue totaled RMB 16.017 billion, up 12.57% YoY; net profit attributable to shareholders was RMB 407 million, turning from loss to profit YoY. Cumulative revenue for the first three quarters of 2024 reached RMB 44.200 billion, up 16.49% YoY; net profit attributable to shareholders was RMB 887 million, up 212.19% YoY. Sinochem International: Q3 2024 revenue totaled RMB 13.993 billion; net profit attributable to shareholders was −RMB 376 million. For the first three quarters of 2023, cumulative revenue was RMB 43.014 billion; net profit attributable to shareholders was −RMB 540 million. Kingfa Science & Technology: Q3 2024 revenue totaled RMB 13.942 billion, up 41.56% YoY; net profit attributable to shareholders was RMB 15.266 million, down 96.19% YoY. For the first three quarters of 2024, revenue totaled RMB 34.291 billion, up 16.97% YoY; net profit attributable to shareholders was RMB 484 million, down 59.75% YoY. Huayi Group: Q3 2024 revenue totaled RMB 11.46 billion, up 16.34% YoY; net profit was RMB 552 million, up 413.38% YoY. For the first three quarters of 2024, revenue totaled RMB 31.037 billion, up 5.73% YoY; net profit was RMB 663 million, down 41.71% YoY. Satellite Chemical: Q3 2024 revenue totaled RMB 10.868 billion, up 21.34% YoY; net profit attributable to shareholders was RMB 1.551 billion, up 525.40% YoY. For the first three quarters of 2024, revenue exceeded RMB 30 billion for the first time in history, reaching RMB 30.881 billion, up 11.21% YoY; net profit attributable to shareholders was RMB 3.394 billion, up 11.43% YoY. Zhongtai Chemical: Q3 2024 revenue totaled RMB 9.846 billion, down 16.44% YoY; net profit attributable to shareholders was −RMB 221 million. SABIC (Saudi Basic Industries Corporation): Q3 2024 total sales amounted to SAR 35.98 billion (approx. USD 9.59 billion), up 6% quarter-on-quarter but down 17% year-on-year; net loss totaled SAR 2.88 billion (approx. USD 770 million), compared to net profit of SAR 1.18 billion (approx. USD 310 million) in the prior quarter. Mitsubishi Chemical: For the first half of FY2024 (April–September), revenue totaled JPY 2.15 trillion, down 5.3% YoY; net profit was JPY 67.2 billion, down 9.1% YoY. Sumitomo Chemical: For the first half of FY2024 (April–September), revenue totaled JPY 1.187 trillion, down 22.4% YoY; net loss was JPY 76.3 billion, versus net profit of JPY 81.1 billion in the same period last year. Mitsui Chemicals: For the first half of FY2024 (April–September), revenue totaled JPY 823.7 billion, a decrease of JPY 127.4 billion YoY; net profit was JPY 20.7 billion, down JPY 23.7 billion YoY.

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