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Financial Performance and Strategy news
(page 23)
11 July 2025
Covestro AG Lowers 2025 Forecast
EBITDA, FOCF, and ROCE over WACC forecasts for 2025 are reduced due to weak global economy. Greenhouse gas emissions remain unchanged.
10 July 2025
Ørsted Secures Financing for Greater Changhua 2 Project
Ørsted advances its strategic goals with project financing for Greater Changhua 2, supported by international banks and export credit agencies.
9 July 2025
GES Sells Rotterdam Terminal to Tepsa
GES sells its Rotterdam terminal to focus on Asian market growth, particularly at Port Klang, Malaysia. The sale aligns with GES's strategy and delivers strong returns for shareholders.
9 July 2025
Gunvor Reduces Rotterdam Operations Amid Investment Uncertainty
Operations in Rotterdam are scaled back, ending terminal activities. Energy transition projects continue, including a SAF plant with VARO Energy. Job losses expected.
8 July 2025
Vynova to End PVC Production at Beek Site
Production at Beek to end by Nov 2025 due to market pressures. 100 jobs affected. Support initiatives planned for employees.
7 July 2025
Dow to close three European upstream assets due to regional challenges
Shutdowns aim to optimize capacity, cut costs, and boost EBITDA by 2029, impacting 800 roles. Charges range from $630M to $790M, with $500M cash outlay over four years.
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4 July 2025
GES Sells Amsterdam Terminal After 10 Years
After expansions, the terminal now holds 300,000 m³ for fuels. The sale aligns with a strategy to focus on growth in Port Klang, Malaysia. Financial terms are undisclosed.
2 July 2025
TotalEnergies Sells 50% of Portuguese Renewable Assets
The company retains operation and 50% stake, selling the rest for €178.5M. It will buy and commercialize production post-tariff expiry, optimizing capital in renewables.
30 June 2025
ORLEN Secures PLN 2.5 Billion for Green Investments
EUR 600M green Eurobonds issued for energy transition projects, oversubscribed 2.5x, with 60% to ESG investors. Funds support renewables, zero-carbon transport, and energy efficiency.
25 June 2025
Infinium's Roadrunner Project Secures Financing from HSBC
Roadrunner Project to produce 23,000 tonnes of eSAF annually. Long-term agreements with major airlines secured. Construction underway, setting a precedent for clean energy financing.
17 June 2025
INEOS Phenol to close Gladbeck site due to high energy and carbon costs
The closure affects 279 jobs directly, impacts over 1500, and is due to uncompetitive costs and reduced local demand. Consultation with stakeholders will ensure a responsible exit.
5 June 2025
LyondellBasell to Sell European Assets to AEQUITA
The sale includes olefins and polyolefins sites in France, Germany, UK, and Spain. Closing expected by mid-2026, pending consultations and regulatory approvals.
2 June 2025
Dow to Sell 50% Stake in DowAksa Joint Venture
Dow sells its stake for $125M, aligning with its core focus strategy. Sale completes Q3 2025, pending approvals. BNP Paribas advised on the deal.
28 May 2025
REMONDIS Reports Steady Growth
Despite global challenges, the company increased 2024 turnover by 1.1 billion euros, driven by its focus on recycling, services, and water management.
22 May 2025
Essar Energy Transition Completes US$130mn Turnaround, Plans US$350mn Annual Improvements at Stanlow Refinery
Turnaround boosts throughput by 8%. New hydrogen-ready furnace installed. Business plan targets US$350mn in improvements. Debt reduction of US$600mn planned for decarbonisation investments.
15 May 2025
Rompetrol Rafinare Q1 2025 Operational Growth
Turnover rose 21% to $1.3B, despite a 30% EBITDA drop. Fuel sales grew, exports hit $407M, and state contributions increased to $372M. LDPE plant restarted, boosting petrochemical output.
13 May 2025
Borealis Advances Circular Economy in 2024
Borealis boosts circular production, expands product lines, and forms strategic partnerships to enhance recycling and sustainability across sectors in 2024.
13 May 2025
Lignin Industries Secures €3.9mn for Commercial Expansion
The funding supports scaling of Renol®, a bio-based thermoplastic, with partnerships in electronics, home goods, and construction, aiming to reduce reliance on fossil-based plastics.
12 May 2025
Bayer refocuses Crop Science R&D and production in Germany on strategic technologies
Production in Frankfurt ends by 2028; R&D moves to Monheim. Dormagen streamlines, focusing on innovation. Job impacts addressed with employee reps.
9 May 2025
LANXESS Reports 32% EBITDA Increase in Q1 2025
Sales stable at EUR 1.6B. Net income improved but still negative. Urethane Systems sold. Cost savings and better capacity utilization drive earnings growth.
7 May 2025
Ørsted Halts Current Hornsea 4 Offshore Wind Project
Rising costs and risks lead to project halt; future options under review. Expected financial impact: DKK 3.5-4.5 billion in 2025. EBITDA guidance remains unchanged.
11 April 2025
CARBIOS Reports 2024 Financial Results
Cash at €109M; Longlaville plant construction delayed, pending financing; progress on contracts; 2025 cost-cutting plan to reduce cash burn by 40%.
9 April 2025
LANXESS Sells Urethane Systems to UBE Corporation
The sale completed on April 1, 2025, for €500M. Proceeds will redeem a bond, reducing leverage to ~3x. This concludes LANXESS's portfolio transformation.
25 March 2025
LANXESS Boosts 2024 Earnings
EBITDA up 19.9% to EUR 614M. Sales down 5.2%. Strong cash flow, debt reduced. Cost savings ahead of plan. Urethane Systems sale to UBE finalizes specialty chemicals shift.
18 March 2025
LyondellBasell and Covestro Close PO11 Unit in Netherlands
PO11 unit closure due to overcapacity, high costs, and imports. LYB and Covestro focus on strategic assets and maintain customer relations. Shutdown by 2026.
18 March 2025
LyondellBasell, Covestro to Close PO11 Unit in Netherlands
Closure due to global overcapacity, high costs, and weak demand. LYB to safely shut down by 2026. Commitment to European market and ongoing customer support remain.
12 March 2025
Northvolt Declares Bankruptcy in Sweden
Facing financial challenges, the company filed for bankruptcy in Sweden. A trustee will oversee asset sales and operations, while subsidiaries in Germany and North America remain unaffected.
5 March 2025
INERATEC secures €70 million for Europe's largest e-Fuel plant in Frankfurt
€70m funding will boost e-Fuel production, aiding aviation decarbonization and supporting EU climate goals through innovative reactor technology and strategic partnerships.
3 March 2025
OMV and ADNOC to Form $60 Billion Polyolefins Leader
The new entity will be the fourth-largest globally, acquiring Nova Chemicals, with headquarters in Vienna and Abu Dhabi, and aims for significant growth and synergies. Completion by Q1 2026.
10 February 2025
Momentum Global Ventures Boosts Investment in Perpetual Next
Perpetual Next secures funding for 15 biofuel projects, reduces debt, and gains public support, positioning for strategic partnerships and expansion in methanol and biogas production.
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