Recently, large chemical companies such as BASF, Dow, and Wanhua have successively released performance reports for the first half and second quarter of this year. The report shows that the sales performance of some companies still generally achieve sustained growth and generally maintain a positive trend.
Asia
Rongsheng Petrochemical’s operating income in the first half of the year was 147.628 billion yuan, a year-on-year increase of 74.88%; the net profit attributable to shareholders of listed companies was 5.367 billion yuan, a year-on-year decrease of 18.27%.
Hengli Petrochemical achieved revenue of 119.155 billion yuan in the first half of the year, a year-on-year increase of 13.94%; net profit was 8.026 billion yuan, a year-on-year decrease of 7.13%. In the second quarter, revenue was 65.769 billion yuan, a year-on-year increase of 28.1%; net profit was 3.803 billion yuan, a year-on-year decrease of 16.06%.
Wanhua Chemical achieved operating income of 89.119 billion yuan in the first half of 2022, a year-on-year increase of 31.72%; net profit attributable to the parent company was 10.383 billion yuan, a year-on-year decrease of 23.26%. In the second quarter, the main operating income was 47.334 billion yuan, a year-on-year increase of 30.24%; the single-quarter net profit attributable to the parent company was 5.009 billion yuan, a year-on-year decrease of 27.5%.
In the first half of the year, China Chemical achieved operating income of 74.798 billion yuan, a year-on-year increase of 33.77%; net profit of 2.649 billion yuan, a year-on-year increase of 37.07%; excluding non-net profit of 2.565 billion yuan, a year-on-year increase of 44.16%.
In the first half of the year, Kingfa Technology achieved operating income of 19.467 billion yuan, a year-on-year increase of 0.93%; net profit was 802 million yuan, a year-on-year decrease of 49.26%.
Indorama’s second quarter sales were US$5.451 billion, a year-on-year increase of 53%; EBITDA reached a record US$1.01 billion, a year-on-year increase of 83%.
South Korea’s LG Chem’s second-quarter sales were 12.2399 trillion won, a year-on-year increase of 7%; operating profit was 878.5 billion won, a decrease of 59%.
South Korea’s Lotte Chemical’s second-quarter sales increased 26.6% to 5.51 trillion won. Its net income was 36.2 billion won, down 92.8% from the same period last year.
Nippon Paint’s sales in the first half of the year reached 622.049 billion yen (approximately RMB 31.102 billion), an increase of 29.1% over the same period last year. Sales in the second quarter were 337 billion yen (approximately RMB 16.5196 billion), a year-on-year increase of 30%; net profit attributable to the parent company was 14.2 billion yen, a year-on-year decrease of 18.8%.
Mitsubishi Chemical Holdings’ net profit in the first quarter of fiscal 2023 ended June 30 was 44.9 billion yen ($340.9 million), a year-on-year decrease of 10%. Operating profit also fell 22% year-on-year, from 87 billion yen to 68 billion yen. Group sales increased 19% to 1.1 trillion yen.
Sumitomo Chemical’s consolidated sales revenue in the first quarter of fiscal year 2023 as of June 30, 2022 was 774.1 billion yen, an increase of 135.2 billion yen year-on-year; the profit attributable to the parent company was 70 billion yuan, higher than the same period last year.
Mitsui Chemicals’ net profit in the first quarter of fiscal 2023 ended June 30, 2022 fell 34.3% year-on-year to 28 billion yen ($209.6 million), while revenue increased 28.5% year-on-year to 476.1 billion yen.
Asahi Kasei announced sales revenue of 670.4 billion yen in the second quarter of 2022, a year-on-year increase of 14.9%; EBITDA was 90.5 billion yen, a year-on-year decrease of 5.7%.
Saudi Basic Industries Corporation (SABIC) sales in the second quarter were 55.98 billion riyals ($14.93 billion), a year-on-year increase of 32%; net profit was 7.93 billion riyals ($2.11 billion), higher than the 7.64 billion in the same period last year Rial.
Europe
BASF Group’s sales in the second quarter increased by 16.3% to 23 billion euros; earnings before interest and taxes excluding special items were 2.3 billion euros, the same as the same period last year; net income was 2.1 billion euros, a year-on-year increase of 26.3%.
Evonik’s second-quarter sales increased 31% year-on-year to 4.772 billion euros. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 12% to 728 million euros.
LyondellBasell Industries’ sales in the second quarter were US$14.838 billion, net income was US$1.643 billion, and EBITDA was US$2.381 billion.
Solvay’s net sales in the second quarter were 3.477 billion euros, a year-on-year increase of 32.6%; basic EBITDA was 864 million euros, a year-on-year increase of 35%.
In the second quarter, WACKER Group achieved sales of 2.17 billion euros, an increase of 45% over the same period last year; EBITDA totaled 625.8 million euros, nearly double compared with the same period last year (320.9 million euros).
Arkema Group’s sales in the second quarter of 2022 totaled 3.2 billion euros, an increase of 32.9% over the same period last year; EBITDA grew strongly to 705 million euros, a staggering 47.5% year-on-year increase.
Linde’s net profit in the second quarter was US$372 million, a year-on-year decrease of 56%; sales reached US$8.5 billion, a year-on-year increase of 12%.
Bayer Group’s second quarter sales increased by 9.6% to 12.819 billion euros. Earnings before interest, taxes, depreciation and amortization before special items increased by 30.0% to 3.349 billion euros.
Clariant’s sales in the second quarter were 1.301 billion Swiss francs, an increase of 29%; EBITDA increased to 216 million Swiss francs. Sales in the first half of the year were 2.563 billion Swiss francs, an increase of 29%; EBITDA increased by 30% to 436 million Swiss francs.
Covestro’s second-quarter sales increased by 18.9% year-on-year to 4.7 billion euros, earnings before interest, taxes, depreciation, and amortization (EBITDA) fell by 33.0% to 547 million euros, and net profit fell by 55.7% year-on-year to 199 million euros.
Air Liquide Group’s total revenue in the first half of the year was 14.2 billion euros, a year-on-year increase of 31%; net profit (group share) was 1.3 billion euros, an increase of 5.3%.
Henkel Group’s sales in the first half of the year achieved an organic growth of 11.3%, reaching approximately 10 billion euros; adjusted operating profit increased by 20.1%, reaching 1.430 billion euros. Sales in the second quarter were 4.958 billion euros, an increase of 8.8%.
Lanxess’s second-quarter sales increased by 36.1% to 1.999 billion euros, and earnings before interest, taxes, depreciation, amortization and adjustments (EBITDA pre) were the same.Year-on-year growth of 14.5% to 253 million euros.
AkzoNobel’s sales in the second quarter were 2.853 billion euros, an increase of 14%; adjusted profit before interest, taxes, depreciation and amortization was 337 million euros (419 million euros in the same period in 2021).
Yara International sales revenue was US$6.453 billion, compared with US$3.947 billion in the same period last year; (EBITDA) was US$1.48 billion, compared with US$775 million in the same period last year; net profit attributable to shareholders was US$664 million.
North America
Dow’s second-quarter profit and sales beat expectations. Sales revenue increased by 12.8% year-on-year to US$15.66 billion; net profit fell to US$1.68 billion from US$1.93 billion in the same period last year.
DuPont’s net sales in the second quarter totaled US$3.3 billion, a year-on-year increase of 7%; operating earnings before interest, taxes, depreciation, and amortization (EBITDA) was US$829 million, a year-on-year increase of 6%.
Eastman’s second-quarter sales were US$2.784 billion and EBIT was US$426 million.
Celanese achieved net sales of US$2.5 billion in the second quarter, a decrease of 2% from the previous quarter and an increase of 13% from the same period last year; adjusted profit before interest and tax was US$646 million.
Albemarle’s net sales in the second quarter were US$1.48 billion, an increase of 91%; adjusted EBITDA was US$610 million, an increase of 214%.
Air Products’ adjusted EBITDA in the third quarter of fiscal year 2022 was US$1.081 billion, an increase of 11% over the previous year; operating income was US$3.189 billion, a year-on-year increase of 22.44%.
Ecolab Group’s sales were US$3.6 billion, an increase of 13% compared with last year; operating profit was US$400 million, a decrease of 5% year-on-year.
International Flavors and Fragrances’ net profit attributable to ordinary shareholders of the parent company in the second quarter of fiscal year 2022 was US$107 million, a year-on-year increase of 282.14%; operating income was US$3.307 billion, a year-on-year increase of 7.06%.
In the second quarter, Huntsman achieved revenue of US$2.362 billion, net profit of US$242 million, adjusted net profit of US$265 million, and adjusted EBITDA of US$432 million.
Celanese achieved net sales of US$2.5 billion in the second quarter, an increase of 13% over the same period last year; it achieved consolidated operating profit of US$483 million and adjusted profit before interest and tax of US$646 million.
West Lake Group’s second-quarter revenue was US$4.48 billion, a year-on-year increase of 57%; net profit was US$858 million, a year-on-year increase of 64%.
Corteva’s net sales in the second quarter were US$6.25 billion, an increase of 13% year-on-year; earnings before interest, taxes, depreciation, and amortization were US$2.76 billion, an increase of 17% over the previous year.
Sherwin-Williams’ sales in the second quarter were US$5.87 billion, a year-on-year increase of 9.2%; net profit was US$578 million, compared with US$649 million in the same period last year. In the first half of the year, Sherwin-Williams collected a total of US$10.871 billion, a year-on-year increase of 8.3%; net profit was US$948 million, compared with US$1.058 billion in the same period last year.
Axalta’s net sales in the second quarter were US$1.2349 billion, a year-on-year increase of 9.6%; operating profit was US$103.6 million, a year-on-year decrease of 45.6%.
PPG Industrial achieved sales of US$4.691 billion in the second quarter, a year-on-year increase of 8%; net profit was US$443 million, a year-on-year increase of 3%; adjusted net profit was US$430 million, a year-on-year decrease of 8%. Sales in the first half of the year were US$8.999 billion, a year-on-year increase of 9.21%; operating profit was US$471 million, a year-on-year decrease of 42.42%; net profit attributable to shareholders was US$459 million, a year-on-year decrease of 43.26%.
Ashland’s sales in the third quarter of fiscal 2022 were US$644 million, an increase of 19% over the same period last year. Net income was $36 million, compared with $80 million in the same period last year.
Nutrien achieved operating income of US$14.506 billion in the second quarter, a year-on-year increase of 48.58%; net profit was US$3.601 billion, a year-on-year increase of 223.54%; adjusted EBITDA was US$4.993 billion.
Mosaic’s second-quarter revenue was US$5.373 billion, a year-on-year increase of 92%; net profit was US$1.036 billion, compared with US$437 million in the same period last year.
FMC’s second quarter revenue was US$1.45 billion, an increase of 17% from the second quarter of 2021; adjusted EBITDA was US$360 million, an increase of 3% from the same period last year.
CF Industrial’s net profit attributable to the parent company in the first half of the year was US$2.048 billion, a year-on-year increase of 415.87%; operating income was US$6.257 billion, a year-on-year increase of 137.37%. Net profit attributable to parent companies in the second quarter was US$1.165 billion, a year-on-year increase of 373.58%; operating income was US$3.389 billion, a year-on-year increase of 113.41%.
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