Syensqo Q2 2026 results

Q2 performance

Net sales were €1.55 billion, supported by 5% year‑on‑year organic volume growth led by Materials. Composite Materials grew 18% year‑on‑year and Specialty Polymers returned to growth, with sequential net sales up 11% driven primarily by Specialty Polymers.

Gross profit was €528 million, producing a gross margin of 34.0%, an improvement of 100 basis points year‑on‑year, with margin expansion in both Materials and Performance & Care. Underlying EBITDA was €311 million, down 6% organically year‑on‑year (including higher variable compensation accruals) but up 24% sequentially, yielding a 20.0% underlying EBITDA margin. Underlying profit attributable to Syensqo shareholders was €106 million.

Cash flow and investment

Operating cash flow was €131 million, up significantly year‑on‑year due to the absence of separation costs and positive working capital movements. Capital expenditures were €95 million, down 16% year‑on‑year; full‑year capex guidance of approximately €450 million includes the new ERP implementation.

Strategy

Management initiated a strategic review of the Performance & Care segment in May 2026 and appointed advisors to maximise long‑term shareholder value, consistent with the intention to focus on specialty materials and advanced technologies.

Outlook

Management expects a gradual recovery in year‑on‑year volumes and stronger growth for the remainder of 2026, projecting low‑ to mid‑single‑digit volume growth for the full year. The company updated its full‑year 2026 outlook to underlying EBITDA of at least €1.1 billion (previously approximately €1.1 billion), operating cash flow of approximately €700 million, and capital expenditures of approximately €450 million, assuming EUR/US$ at 1.20.