Belgian chemist Syensqo wants to offload 35% of its turnover to become a "pure player" of materials

Syensqo's future will be written without its Performance & Care division, which brings together the Novecare and methodology Solutions activities. The Belgian group of specialties has just announced the launch of a "strategic review" of this segment with the aim of refocusing on specialty and composite polymers (the materials division), which are aimed at markets that it considers "structurally promising", such as defense aviation and electronics Energy and cutting-edge mobility applications. Made up of a surface chemistry wallet and specialty mining reagents serving the personal care, agro, coatings and mining markets, Performance & Care generated, in 2025, a net turnover of 2 billion euros (35% of the group's turnover) to an Ebitda margin of 17.8%, compared to 28.4% to that of the Material branch.

In France, the Melle, Saint-Fons, Clamecy and Méréville sites could be affected by the operation, while the Lyon research center is a mixed site. However, Syensqo specifies that it is only at the stage of strategic reflection concerning this Performance & Car segment. «No decision has summer socket and there is therefore no certainty regarding the scope or structure of a possible transaction, "adds its spokesperson.

This information comes as Syensqo started 2026 on a contrasting consider. The group reported quarterly sales of € 1.4 billion, up 5% compared to the fourth quarter of 2025, driven by the rebound in the Specials division and Novecare (Performance division) activities. however over one year, activity remained down by 7.4% and underlying Ebitda fell by 16.5% to € 251 million. The first quarter summer especially marked by an improvement in volumes, while manufacturing markets remain fragile by a particularly tense geopolitical ecological stability. Syensqo thus points out that its volumes have remained "broadly stable" over one year, despite unfavorable currency impacts and persistent pressure in some markets, notably the automobile. In the materials branch, specialty polymers have benefited from a recovery in volumes in automotive, healthcare and manufacturing applications. Composites continue to benefit from the dynamics of civil aviation. New general manager Mike Radossich, however, insists on caution. In his statement, he explicitly talks about tensions in the Middle East and the conflict involving Iran. «While the ongoing conflict in the Middle East did not have a significant impact on our first quarter performance, it remains a source of uncertainty, "he said, adding that the group has already taken steps to limit possible operational disruptions. These statements come as European manufacturers are watching with attention the tensions around the Strait of Hormuz, a strategic passage to nearly 20% of the world's oil and a significant part. part of liquefied natural gaseous. Several analyzes underline that a lasting blocking of this maritime route could trigger a major energy and logistical shock to European chemicals because of its application on hydrocarbons and petrochemical raw materials. The disruptions in the Gulf could also increase transport costs and fragile global supply chains.

Despite these uncertainties, Syensqo maintains its annual targets. The group is still aiming to an underlying EBitda of around € 1.1 billion and operating cash flow close to € 700 million. It also plans to further decrease its investments, now expected around € 450 m against less than € 500 m previously. At the same time, the group is continuing its financial discipline. Investments fell by 44% in the first quarter and the sale of the Oil & gaseous business, finalized in January to around € 130 million, made it possible to slightly decrease net debt.