Fabric Products,Fabric Information,Fabric Factories,Fabric Suppliers Fabric News Performance plummeted 40%! Chemical giants such as BASF and Dow fell into a cold winter!

Performance plummeted 40%! Chemical giants such as BASF and Dow fell into a cold winter!



Recently, various chemical giants have released their results for the second quarter of 2020. Affected by the COVID-19 epidemic, most companies have experienced declines in revenue and performance. Some compani…

Recently, various chemical giants have released their results for the second quarter of 2020. Affected by the COVID-19 epidemic, most companies have experienced declines in revenue and performance. Some companies’ net sales have dropped by more than 40% year-on-year.

1. BASF

Affected by the COVID-19 epidemic in the second quarter, market demand weakened, and EBIT before special items fell:

Sales: 12.7 billion euros (-12% ), mainly affected by various blockade measures during the epidemic.

EBIT before special items: €226 million (-77%).

Net income: negative 878 million euros, mainly due to the impairment of the equity investment in Wintershall Dea (no cash flow impact).

Cash flow from operating activities: 2.2 billion euros (+296 million euros compared with the same period last year); free cash flow: 1.5 billion euros (+551 million euros compared with the same period last year).

2. Dow Company

Net sales in the second quarter were US$8.4 billion, compared with It fell 24% in the same period last year as the COVID-19 epidemic severely affected performance and both local prices and sales fell.

Local prices were down 14% compared with the same period last year, mainly reflecting lower global energy prices, with exchange rate changes lowering sales by 1%.

Sales fell 9% compared with the same period last year. Increased demand in food packaging, health and hygiene, home care and pharmaceutical applications was partially offset by weakness in durable goods end markets. It is worth noting that with the restart of China’s economy, the company’s sales in the Asia-Pacific region increased by 3% year-on-year and 13% month-on-month.

GAAP net loss from continuing operations was $217 million. Operating earnings before interest and taxes (EBIT) were $57 million, down from $1.1 billion in the year-ago quarter.

3. Wacker Chemicals

Sales achieved in the second quarter were 1.0724 billion euros ( Second quarter of 2019: 1.2685 billion euros), a decrease of 15% compared with the previous year. Sales fell by 10% compared with the previous quarter (€1,197.5 million).

Earnings before interest, taxes, depreciation, and amortization (EBITDA) achieved in the second quarter was 105.4 million euros, a 50% decrease from the same period last year (210.7 million euros). The group’s profit before interest and taxes (EBIT) during the reporting period was 1.8 million euros (second quarter of 2019: 70.7 million euros), a year-on-year decrease of 98%, and the EBIT margin was 0.2% (second quarter of 2019: 5.6%). EBIT This is a significant decrease compared to the first quarter of 2020 (€69.8 million).

The decline was primarily due to lower product sales and lower average prices for solar polysilicon and standard silicone products. Lower raw material and energy costs had a positive impact on performance. EBITDA fell by 39% compared with the previous quarter (€174.1 million). WACKER’s EBITDA margin in the second quarter of 2020 was 9.8% (Q2 2019: 16.6%), compared with 14.5% in the previous quarter. .

4. Shell

Net loss in the second quarter was US$18.13 billion, including US$16.8 billion U.S. dollar asset writedowns to reflect lower oil and natural gas prices.

The company warned at the end of June that it expected to reflect asset writedowns of US$15 billion to US$22 billion in its second-quarter results. After deducting one-time items, the company’s profit on a current cost of supplies (CCS) basis for the quarter was US$638 million, a decrease of 82% from US$3.46 billion in the same period last year.

5. Covestro

Second quarter:

Core business sales fell by 22.7%;

Group sales totaled approximately 2.2 billion euros;

Achieved EBITDA1. 2.5 billion euros;

Net profit was negative 52 million euros;

Free operating cash flow rose to 24 million euros;

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6. Clariant

In local currency terms, sales from continuing operations fell 5% to CHF 1.945 billion in the first half of 2020.

The EBITDA profit margin before interest, taxes, depreciation and amortization increased to 15.0%, and the operating performance in the first half of 2019 was 14.9%.

The group’s overall net profit increased to 90 million Swiss francs, and operating cash flow was 89 million Swiss francs.

7. Solvay

The second quarter transaction data shows that in response to the 2019 The permanent closure of two composites plants during the coronavirus outbreak in 2017 also caused a significant decline in the company’s profits.

A non-cash impairment charge was also announced, with businesses related to oil and gas, automotive and aerospace the most affected, with revenue down about 40%, while construction and Mining-related operations fell about 20%.

Other key markets such as healthcare, agriculture/food, home personal care and electronic products maintained good conditions and offset some negative market effects. An impairment review is currently underway and could result in non-cash impairment charges of approximately 1.5 billion euros ($1.7 billion).

8. Huntsman

Net loss in the second quarter was US$59 million, compared with last year same periodNet income was $118 million; loss per share in the second quarter was $0.28, compared with diluted earnings per share of $0.47 in the same period last year.

Adjusted net loss was $30 million, compared with adjusted net income of $108 million in the same period last year; adjusted loss per share was $0.14, compared with diluted income in the same period last year Earnings per share were $0.47.

Adjusted EBITDA was $54 million, compared with $245 million in the same period last year; net cash provided by operating activities was $85 million; continuing operations Free cash flow generated was $30 million and adjusted free cash flow from continuing operations was $38 million.

9. Arkema

Sales in the second quarter were 1.9 billion euros, a year-on-year decrease 15.6% (sales fell 10.7% in the first half of 2020).

EBITDA was 286 million euros (2019 second quarter: 407 million euros), with an EBITDA margin of 15%.

Adjusted net income was €90 million (Q2 2019: €192 million).

10. Total Group

still recorded cash flow of US$3.6 billion in the second quarter. Adjusted net income remained positive. The group’s board of directors decided to maintain the interim dividend for the second quarter at 0.66 euros per share.

Net loss attributable to shareholders in the second quarter was US$8.4 billion. On July 29, Total announced that it would write down its oil and gas assets by US$8.1 billion. The company also said that its average refining margin in the second quarter fell to the lowest level in six years, with variable costs at European refineries The profit margin dropped to US$14.30/ton (approximately US$1.95/barrel). While the impact of the epidemic continues, CEO Patrick Pouyanne pointed out in a speech at the end of May that the production capacity of Total’s refineries this year is expected to reach 70%, 15 percentage points lower than the average level in 2019. “This will affect refining.” cash flow.”

11. PPG

Achieved net sales of 3 billion in the second quarter The U.S. dollar fell by 25% compared with the same period last year. If the exchange rate remains unchanged, it fell by about 22%. The sales price increased by nearly 2% year-on-year, and the total sales volume decreased by approximately 24% compared with the same period last year.

12. AkzoNobel

Sales revenue in the second quarter was 1.987 billion euros, year-on-year The decline was 19%, or 17% at constant exchange rates, primarily due to the impact of the COVID-19 pandemic. Adjusted operating profit was 238 million euros, a year-on-year decrease of 22%; operating profit was 207 million euros, a year-on-year decrease of 33%; net profit attributable to shareholders was 129 million euros, a year-on-year decrease of 44.16%.

Sales revenue in the first half of 2020 was 4.045 billion euros (approximately US$4.549 billion), a year-on-year decrease of 13%, a decrease of 11% at constant exchange rates, and positive price/product The portfolio increased by 2% and sales volume decreased by 12%; adjusted EBITDA was 623 million euros, a year-on-year decrease of 3%; operating profit was 394 million euros, a year-on-year decrease of 6%. Net profit from continuing operations was 244 million euros, a year-on-year decrease of 13%. Net profit attributable to shareholders was 243 million euros, a year-on-year decrease of 18%.

The semi-annual report shows that adjusted earnings per share from continuing operations were 1.51 euros, a year-on-year increase of 8%. Net debt was €1,683 million as of June 30, 2020 (2019: €62 million), mainly due to the share buyback program and dividends paid. In addition, as of the end of the second quarter of 2020, the group had 33,200 employees, a year-on-year decrease of 1,300.

13. Axalta

Net sales in the second quarter were US$652.7 million, year-on-year Down 43.6%, operating losses totaled $64.5 million, compared with profits of $157.9 million in the second quarter of 2019.

In the second quarter, Axalta’s performance coatings division’s net sales were US$482.1 million, a year-on-year decrease of 36.3%. Decorative coatings net sales decreased 41.4% to $261.9 million (down 38.7% excluding foreign currencies). Net sales of industrial coatings fell by 28.8% to US$220.2 million (a decrease of 23.2% after deducting the effects of foreign exchange and mergers and acquisitions), of which sales volume fell by more than 20%, but the global average price and product structure were basically stable.

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