Syensqo Q1 2024 Sales Reach €1.6B

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Adobe Stock/nerudol

Syensqo has announced its first quarter 2024 results, which showed net sales reaching €1.6 billion, as compared to €1.8 billion in the previous year.

The underlying net profit was €156 million.

The underlying EBITDA was €363 million.

Gross profit was €583 million, as compared to €663 million in the previous year.

2024 Outlook

The underlying EBITDA is expected to be in the range of €1.4 billion and €1.55 billion.

Capital expenditures is expected to be in the range of €600-€650 million.

Ilham Kadri, CEO of Syensqo, said, "In addition to meeting our outlook for the first quarter, I am encouraged by the improved momentum we have seen since the start of the year. We saw strong margin expansion, with sequential improvements in volumes and net sales in both materials and consumer and resources. However, it is still too early to call it a trend, and we therefore reiterate our full year outlook.

Our first five months as Syensqo have seen us ensure a smooth transition for our customers, while further sharpening our innovation and commercial priorities, fully aligned with their needs and the unique value we offer. In addition we announced new and ambitious partnerships, launched new disruptive technologies to advance our leadership positions in aerospace, electric vehicles and specialty coatings, as well as making a bolt-on investment in high value dermocosmetics to enhance our portfolio in the consumer market."

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