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

Lanxess reported Q3 sales of €1.601 billion, down 26.7% year-on-year; EBITDA stood at €119 million, down 50.4%; net income declined from €80 million in the prior year to -€131 million. Wacker Chemie AG reported Q3 Group sales of €1.52 billion, down 29% year-on-year; EBITDA totaled €152 million, down 67%; Q3 net profit amounted to €34 million. Clariant reported Q3 organic sales of CHF 1.031 billion, down 8% year-on-year; EBITDA margin fell to 15.4%, compared to 16.8% in the same period last year. Cumulative sales for the first three quarters of 2023 totaled CHF 3.315 billion, down 7% year-on-year. North America Dow reported Q3 net sales of $10.7 billion, down 24% year-on-year; GAAP net income was $327 million, versus $760 million in the prior-year period. LyondellBasell reported Q3 sales revenue of $10.625 billion, down 13.3% year-on-year from $12.25 billion; EBITDA was $1.356 billion, up 21.8% from $1.108 billion in the prior-year period. Sherwin-Williams reported Q3 net sales of $6.117 billion, up 1.1%; net income was $298 million, up 10.7%; EBITDA was $1.27 billion, up 12.6%. Nutrien reported Q3 sales of $5.631 billion, down 31% year-on-year from $8.188 billion; net income was $82 million, down 95% from $1.853 billion in the prior-year period. PPG reported Q3 net sales of $4.644 billion, up 4% year-on-year; net income was $430 million, up 29%. Ecolab reported Q3 net sales of $3.958 billion, up 8% from $3.669 billion a year earlier; net income was $404 million, up 16% from $347 million in the prior-year period. Mosaic reported Q3 revenue of $3.5 billion, down approximately 34% year-on-year; net loss was $4 million, versus net income of $842 million in the prior-year period; EBITDA was $594 million, down 65%. Westlake Chemical Corporation reported Q3 net sales of $3.115 billion, down 21.3% year-on-year; net income was $285 million, down 46.5%; EBITDA was $682 million, down 15%. DuPont reported Q3 net sales of $3.1 billion, down 8% year-on-year; operating EBITDA was $775 million. Air Products reported Q3 sales of $3.034 billion, down 4.8% year-on-year; GAAP net income was $2.01 billion, up 170%; adjusted EBITDA was $3.9 billion, up 8%. International Flavors & Fragrances Inc. (IFF) reported Q3 net sales of $2.82 billion, down 8% year-on-year; EBITDA was $506 million, down 10%.

CVC Acquires IFF’s Food Ingredients Business for RMB 29 Billion

Originally published by "China Private Equity Investment" (ID: PE-China) Author: Wei Yajun Photography: Bob IFF retains a 10% equity stake; CVC holds the remaining 90% via its fund. Recently, International Flavors & Fragrances Inc. (IFF) announced it has signed a definitive agreement to sell its entire food ingredients business to a fund managed by global private equity giant CVC Capital Partners. The transaction values the business at $4.3 billion (over RMB 29 billion). IFF Retains a 10% Equity Stake CVC Holds 90% via Its Fund Under the agreement, IFF will retain a minority equity stake of approximately 10% in the business; CVC’s fund will acquire the remaining 90%. Upon closing, IFF will hold one dedicated board seat on the newly established independent operating entity and continue participating in major operational decisions. This equity linkage is intended to sustain long-term supply chain and technological collaboration between the parties and ensure a smooth transition for existing cross-selling customers of flavors and food ingredients. The core asset of this transaction comprises IFF’s entire food ingredients business globally—including all associated manufacturing facilities, R&D laboratories, customer contracts, patented technologies, supply chain infrastructure, and the full operational team. In its statement, CVC expressed strong confidence in the long-term growth potential of plant-based foods and clean-label ingredients worldwide. It views IFF’s food ingredients business—with its comprehensive global production capacity and robust technology portfolio—as a core integration platform for CVC’s food ingredients strategy. CVC plans to further increase R&D investment and pursue targeted M&A in niche segments to expand market share. This deal is reportedly among the largest acquisitions in the global food ingredients industry in 2026. Closing is expected by the end of Q2 2027. CVC Capital Partners, founded in 1981 and headquartered in Luxembourg, is a global private equity firm originally spun off from Citigroup’s venture capital division. It currently manages assets totaling €200 billion.

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