Communiqué de presse
Syensqo first quarter 2026 results
Net sales of €1.4 billion, increased 5% sequentially, led by Specialty Polymers and Novecare; Underlying EBITDA of €251 million, increased 6% sequentially, led by Specialty Polymers; Full year 2026 underlying EBITDA outlook unchanged, with capital expenditure lowered by up to €50 million
Brussels, May 15, 2026, 7.00am CET
Q1 2026 Highlights
Net sales of €1.4 billion reflect stable overall year-on-year volumes, offset by the adverse impact of foreign exchange movements. On a sequential basis, net sales increased 5%, driven by higher volumes led by Specialty Polymers and Novecare, while pricing remained stable;
Gross profit of €444 million reflects the year-on-year impact of foreign exchange movements on net sales as well as unfavorable product mix, resulting in a gross margin of 31.7%. Compared to the fourth quarter of 2025, gross profit increased by 15% and gross margin expanded by 260 basis points, primarily driven by growth in Specialty Polymers;
Underlying EBITDA of €251 million decreased 13% organically year-on-year, resulting in an underlying EBITDA margin of 17.9%. On a sequential basis, underlying EBITDA increased 6% driven by Specialty Polymers, Novecare and Composite Materials;
Underlying profit attributable to Syensqo shareholders of €68 million;
Operating cash flow of €82 million included the final payment of separation costs of approximately €30 million;
Capital expenditures1 of €97 million decreased 44% year-on-year;
Divestment of the Oil & Gas business unit completed in January with net proceeds of approximately €130 million
Underlying (€ million)
Q1 2026
Q1 2025
Q4 2025
YoY change
YoY organic
QoQ change
Net sales
1,399
1,511
1,329
-7.4%
-1.6%
5.3%
Gross profit
444
495
387
-10.4%
-
14.7%
Gross profit margin
31.7%
32.8%
29.1%
-110 bps
-
260 bps
Underlying EBITDA
251
301
236
-16.5%
-13.1%
6.5%
Underlying EBITDA margin
17.9%
19.9%
17.7%
-200 bps
-240 bps
20 bps
Operating cash flow
82
176
252
-53.5%
-
n.m.
ROCE (LTM)
5.8%
7.1%
6.2%
-130 bps
-
-40 bps
1 Including Capex for the new ERP Implementation
Mike Radossich, CEO ...
