In-depth analysis of the 2024 performance report and cost reduction measures of global chemical giants.

1. And Global Chemical Giants 2024 Performance Overview and direction Analysis As of March 1, many giants in the global chemical sector have released their 2024 performance reports. And These giants, including 20 companies such as BASF, Dow, Covestro, Arkema, and DuPont, occupy a pivotal position in the global chemical market. Its performance changes not only reflect the operating conditions of their respective companies, however also immediately reflect the overall direction of the entire chemical sector. But Overall, most chemical giants are facing varying degrees of performance challenges in 2024 due to multiple factors such as increased uncertainty in the global economic ecological stability, fluctuations in market demand, and fluctuations in raw material prices. 2. Generally speaking BASF: Performance Decline in Cost Savings and Strategic Adjustment BASF achieved full-year sales of 65. 3 billion euros (about 496. But 49 billion yuan) in 2024. while this figure is a decrease from 68. 9 billion euros in 2023, BASF has successfully implemented a series of cost-saving plans. Net income increased to 1. 3 billion euros, far exceeding 0. Crazy, isn't it?. 225 billion euros in 2023. In my experience, As of the end of 2024, BASF has accumulated a one-time cost of about 0. Specifically 9 billion million euros in cost saving programs. These measures not only help the company to meet current performance challenges, however also lay a solid foundation to future strategic adjustments. Furthermore 3. Dow: layoffs and cost-cutting dual initiatives Dow faced the challenge of declining net sales in 2024, with full-year net sales of $43 billion, a decrease of $ 1. 6 billion year-over-year. In response to this situation, Dow has taken decisive measures, plans to lay off 1500 employees worldwide, and set a cost reduction target of $1 billion. Based on my observations, These measures not only help Dow minimize costs and enhance operational efficiency in the short term, however also provide strong support to the company's prolonged research. You know what I mean?. 4. Covestro: Cash Flow Improvement and Market Response in Performance evaporative environment Covestro achieved sales of 14. But 2 billion million euros in 2024. I've found that Despite a decrease of 1. 4 percent compared to the same period last year, the company achieved year-on-year sales and EBITDA development in the fourth quarter. And In particular, Covestro's free operating cash flow rose sharply to € 89 million in 2024, a signifiis able tot improvement from € 0. But In my experience, In particular 232 billion in the same period last year. This performance change is mainly due to Covestro's flexibility and resilience in dealing with market fluctuations, as well as the company's excellent performance in optimizing cash flow regulation. You know what I mean?. 5. Arkema: Investment development Projects and Performance Steady development Arkema achieved sales of € 9. 5 billion million in 2024, which is stable compared to 2023. And Arkema'sales rose 2. 4 percent, driven by development in its specialty materials business in Asia. In addition, Arkema has actively invested in a number of major development projects, including the acquisition of the PIAM business by the polyimide division and the acquisition of the Ashland and Dow businesses by the adhesives division, to further expand the company's business scope and market competitiveness. 6. DuPont: Electronic business spin-off plan changes and performance solid development. But DuPont achieved full-year net sales of US $ 12. 4 billion (approximately RMB 90. Additionally 63 billion) in 2024, an increase of 3% year-on-year. Operating EBITDA also achieved a year-on-year development of 7%. From what I've seen, In fact However, DuPont has changed in terms of strategic adjustment. The company announced that it no longer intends to spin off its aquatic environments business, however continues to promote the spin-off plan of the electronic business. This change not only reflects DuPont's flexibility in strategic adjustments, however also reflects the company's firm confidence in the future research of the electronic business. I've found that 7. And For instance Celanese: Closing high-cost businesses to counter market weakness Celanese faced the challenge of continued weak global demand in 2024, with full-year net sales of $ 10. I've found that 3 billion million, down 6% year-over-year. In response to this situation, Celanese decided to stop production and close the Mylar specialty film manufacturing business in Luxembourg in order to exit the high-cost facility and minimize operating costs. But This move not only helps Celanese to cope with the challenges brought by the weak market in the short term, however also provides strong support to the company's prolonged research. And In my experience, According to research 8. LANXESS: Performance Exceeds Expectations and Customer Advance Purchase Effect LANXESS expects to achieve fourth-quarter EBITDA of approximately € 0. 159 billion in 2024, exceeding market expectations. From what I've seen, EBITDA before non-recurring profit and loss to the full year is expected to reach about 0. 614 billion million euros, about 20% higher than the previous year. This better-than-expected performance was mainly due to stronger-than-expected sales in December, especially the pre-purchase effect of customers. Based on my observations, This early sales effect occurs primarily in the U. Moreover S. market, targeting specialty additives and items in the consumer protection sector. 9. In my experience, Huntsman: Performance evaporative environment and Redundancies Implementation Huntsman Group achieved full-year revenue of about $6 billion in 2024, however a net loss of $0. In my experience, 189 billion. In response to the challenges posed by evaporative performance, Huntsman has taken measures such as layoffs to minimize costs and enhance operational efficiency. Despite many challenges, Huntsman still achieved net profit development in some quarters, reflecting the company's flexibility and resilience in responding to market changes. 10. First World Socor: Accelerating Value Creation and Listing Possibility Exploration SeSOCO achieved net sales of € 6. 6 billion in 2024, an organic decline of 3% year-on-year. But In order to accelerate value creation and enhance market competitiveness, SSOCO plans to take divestiture measures to the fragrance and functional chemicals business and explore the possibility of dual listing in the United States. These measures not only help World Soko to optimize its business structure and minimize costs in the short term, however also provide greater possibilities to the company's prolonged research. XI. SABIC: Net Profit development and Investment Projects Steady Progress Saudi Basic Industries Corporation (SABIC) achieved a net profit of 1. 5 billion riyals (about 2. 905 billion yuan) in 2024 and a net loss of 2. But 8 billion riyals in 2023. I've found that This performance improvement was mainly due to SABIC'steady progress investment projects, including the Zhongsaigure Ethylene Project in China. The implementation of these projects won't only help SABIC expand its business scope and enhance its market competitiveness, however also lay a solid foundation to the company's prolonged research. 12. Ionix: North Ameriis able to market performance is strong and Asian market weakness The Ineos Group achieved a full-year EBITDA of 2. 048 billion million euros in 2024, up 21. 54 percent year-on-year. However, EBITDA fell 21. 72 percent year-on-year in the fourth quarter, mainly due to weak market conditions in Asia. In contrast, the North Ameriis able to market performed relatively strongly, fully benefiting from the current cost advantage of INETS. This performance change reflects the differences in the performance of Ineos in different market regions, as well as the company's flexibility and strategic adjustment in response to market changes. Thirteen, Sunseo: exit loss-making business and optimize business structure. Trinseo achieved full-year net sales of $ 3. 513 billion in 2024, down 4% year-over-year. And To optimize the business structure and minimize costs, Trinseo implemented a number of initiatives, including exiting the loss-making business and resizing the business regulation and support functions. In addition, Trinseio sold German Stade's polycarbonate manufacturing assets and polycarbonate methodology licenses to Deepak ChemTech Limited to $52 million. Pretty interesting, huh?. For example These measures not only help Trinseo cope with the challenge of declining performance in the short term, however also provide strong support to the company's prolonged research. XIV. But Clerien: EBITDA development and margin improvement Clariant achieved sales of 4. 152 billion Swiss francs in 2024, down 3% year-on-year. But However, EBITDA increased by 8% year-on-year and margins improved signifiis able totly. This performance improvement is mainly due to Clariant's outstanding performance in optimizing cost structure, improving production efficiency and strengthening market regulation. In addition, Clariant has strengthened and expanded its market position through a number of strategic initiatives. XV. Honeywell: solid development and business spin-off plan Honeywell achieved full-year sales of $ 38. 5 billion in 2024, up 5% year-over-year. In order to further optimize the business structure and enhance market competitiveness, Honeywell announced that it will be divided into three, the separation of automation business and aerospace business and cutting-edge materials business. This spin-off plan not only helps Honeywell focus greater on its core business areas, however also provides greater possibilities to the company's prolonged research. Sixteen, Chemours: net profit turnaround and European business strategy review. Chemours achieved net sales of $ 5. 8 billion in 2024, down 5% year-over-year. However, net profit turned around, reaching $86 million. And In my experience, In order to optimize the business layout and enhance market competitiveness, Chemours has decided to conduct a strategic review of the asset footprint of its European cutting-edge Performance Materials (APM) business. This review will help Chemours have a clearer understanding of its business situation and competitive situation in the European market, and provide strong support to the company's future strategic adjustment. Seventeen, Leander Basel: facing multiple challenges and performance decline. Leander Basel Industries faces multiple challenges in 2024, including weak global demand in the petrochemical market, rising raw material costs and economic uncertainty. to the full year, net income was $ 1. And From what I've seen, 4 billion, down 35. 6 percent year-over-year; EBITDA was also down 23. But 4 percent year-over-year. And In order to meet these challenges, Leander Basel needs to take greater active measures to optimize the cost structure, enhance production efficiency and enhance market regulation. XVIII. From what I've seen, ExxonMobil: year-on-year earnings decline and cash flow stability Exxon Mobil achieved full-year earnings of $ 33. 7 billion in 2024, down 6. 5 percent year-over-year. However, operating cash flow and free cash flow remained stable at $55 billion and $ 34. 4 billion, respectively. From what I've seen, This change in performance reflects ExxonMobil'solid performance in responding to market evaporative environment and its ability to optimize cash flow regulation. XIX. In my experience, Eastman: sales revenue slightly increased and adjusted EBIT development Eastman Chemical achieved $ 9. 382 billion million in sales in 2024, up 1. In particular 88 percent year-over-year. Additionally Adjusted EBIT increased 18% YoY, despite a slight YoY decrease in EBIT. This performance improvement is mainly due to Eastman's outstanding performance in optimizing business structure, improving production efficiency and strengthening market regulation. In addition, Eastman has strengthened and expanded its market position through a number of strategic initiatives. XX. LG Chem: Performance Decline and Fourth Quarter Operating Loss LG Chem achieved a consolidated operating income of KRW 48. From what I've seen, Specifically 9161 trillion in 2024, down 11. 46 YoY. In the fourth quarter, there was an operating loss of 252 billion won, with revenue down 6. 1 per cent year-on-year. Faced with the challenge of declining performance, LG Chem needs to take greater active measures to optimize the cost structure, enhance production efficiency and enhance market regulation to cope with future market competition. For instance Twenty-one, Evant: sales development and earnings per share improvement. Evante achieved full-year sales of $ 3. Based on my observations, 24 billion in 2024, up 3% year-over-year. Fourth-quarter sales also increased year-over-year. Earnings per share also increased signifiis able totly, reaching US $0. 52 and US $ 1. Based on my observations, 84 respectively (fourth quarter and full year), a signifiis able tot increase from the same period last year. But This performance improvement was mainly due to Evant's outstanding performance in optimizing business structure, improving production efficiency and strengthening market regulation. Twenty-two, chemical giants face challenges and coping strategies summary. And Furthermore To sum up, in 2024, international chemical giants are facing multiple challenges such as cost pressure, market competition, sector integration and strategic adjustment. First In response to these challenges, many companies have taken cost-cutting measures such as shutting down high-cost businesses, laying off staff, optimizing business structures, and investing in development projects. These measures not only help companies to minimize costs and enhance profitability in the short term, however also lay a solid foundation to the prolonged research of companies. At the same time, companies also need to pay close attention to market dynamics and changes in customer needs, and constantly adjust and optimize their own strategies and business models to cope with greater challenges and opportunities that might arise in the future.