INEOS Half-Year report 2024

 INEOS Quattro reports that EBITDA for the second quarter of 2024 was €244 million, compared to €212 million for Q2, 2023 and €260 million for Q1, 2024.

Market recovery continued during the second quarter of 2024.

Styrolution reported EBITDA of €103 million compared to €32 million in Q2, 2023. Polymer market demand improved in the second quarter of 2024 in all regions and across most focus industries compared to 2023. Demand for durable polymer products was robust because of improved market conditions.

INOVYN reported EBITDA of €100 million compared to €164 million in Q2, 2023. Demand for general-purpose PVC in Europe in 2024 improved compared to prior year levels but the market remains fundamentally weak. This, combined with higher producer operating rates, resulted in significant reductions in domestic spreads over ethylene compared to 2023.

Net debt was approximately €5,699 million as at June 30, 2024. Cash balances at the end of the quarter were €1,838 million. There was availability under undrawn securitization facilities of €631 million. Net debt leverage was approximately 7.0 times EBITDA at the end of June 2024.