Lyondellbasell Industries Nv · NYSE:LYB
Lyondellbasell Industries Nv — Q1 2025 Earnings Presentation
23 slides from Lyondellbasell Industries Nv's earnings presentation, Apr 25, 2025
Slide 1: First Quarter 2025 Earnings
First Quarter 2025 Earnings April 25, 2025
Slide 2: Cautionary statement
Cautionary statement The statements in this presentation relating to matters that are not historical facts are forward-looking statements. These forward-looking statements are based upon assumptions of management of LyondellBasell which are believed to be reasonable at the time made and are subject
Slide 3: Safety performance
Safety performance Further improvement on our leading performance in 2025 Sources: American Chemistry Council (ACC) and LyondellBasell. Notes: Medium and large companies only. Includes employees and contractors. 3
Slide 4: Taking decisive steps to navigate the cycle
Taking decisive steps to navigate the cycle Expanding on our actions to build a stronger and more resilient LYB Sept 2023 May 2024 Mar 2025 Past Actions Closure of Italy PP Launched European Closure of Dutch asset announced Strategic Review PO JV announced 2025 actions to 2023 2024 2025 enhance resi
Slide 5: LYB global supply network provides tariff optionality
LYB global supply network provides tariff optionality Less than 10% of polyolefin sales volumes directly impacted by escalating tariffs LYB 2024 global PE+PP sales volumes by destination LYB is well-positioned to navigate tariff ME uncertainty • Approximately 75% of LYB global polyolefin APAC produc
Slide 6: Expanding cost-efficient propylene production capacity
Expanding cost-efficient propylene production capacity Adding value by reducing cost of propylene and optimizing monomer balances Sound strategic rationale Flex-2 value creation levers • Significantly reduces propylene and ethylene market exposure • Improves cost basis for polypropylene and propylen
Slide 7: New Saudi Arabian feedstock allocation
New Saudi Arabian feedstock allocation Growing and upgrading a core LYB business Strengthening our cost-advantaged position in the Middle East • LYB and Sipchem awarded ethane and butane allocation for petrochemical complex in Jubail, Saudi Arabia (40% LYB / 60% Sipchem) 1.5 MM t Ethylene • 1.5 MM t
Slide 8: First quarter 2025 highlights
First quarter 2025 highlights Navigating challenging market conditions with focus and discipline $0.2 B $0.54 $0.7 B ($0.6) B Net income Diluted EPS EBITDA Cash from operating activities $0.1 B $0.33 $0.6 B $0.5 B Net income Diluted EPS EBITDA Dividends and share ex. identified items ex. identified
Slide 9: Seasonal uses of cash combined with one-off impacts
Seasonal uses of cash combined with one-off impacts Working capital build, cash tax payments and refinery exit weigh on first quarter Cash conversion Cash from operating activities 96% 98% $3.4 B 1Q25 last 12 months 90% 88% 87% 83% Cash and cash equivalents $1.9 B March 31, 2025 Net debt to EBITDA e
Slide 10: Disciplined capital allocation
Disciplined capital allocation Advancing our strategy while maintaining an investment-grade balance sheet and prioritizing returns USD, billions Executing the strategy $4 • Remain focused on portfolio optimization and disciplined growth in core and Circular and Low Carbon Solutions businesses $3.4 3
Slide 11: 1Q25 segment highlights
1Q25 segment highlights Downtime in O&P Americas partially offset by higher utilization in O&P EAI and share gains in APS EBITDA variance by segment ex. identified items USD, millions $687 $655 $163 $31 $35 $(39) $(56) $576 $(245) $(399) 4Q24 O&P Americas O&P EAI I&D APS Technology Other 1Q25 EBITDA
Slide 12: Olefins & Polyolefins – Americas
Olefins & Polyolefins – Americas LYB downtime impacted EBITDA by ~$200 MM and higher feedstock costs pressured margins 1Q25 market dynamics EBITDA USD, millions • 1Q25 North American polyethylene and polypropylene industry sales decreased ~2% and ~1% y/y, respectively1 • Lower integrated margins as
Slide 13: Olefins & Polyolefins – Europe, Asia & International
Olefins & Polyolefins – Europe, Asia & International Higher integrated margins on lower feedstock costs and increased LYB operating rates EBITDA ex. identified items 1Q25 market dynamics USD, millions • Higher integrated polyethylene margins on lower feedstock costs and $70 $81 increased utilization
Slide 14: Intermediates & Derivatives
Intermediates & Derivatives Lower oxyfuels volumes and margins, lower acetyls profitability, partially offset higher PO volumes EBITDA ex. identified items 1Q25 market dynamics USD, millions • PO&D benefitting from seasonal demand increases and some $794 customer restocking • Lower blend premiums im
Slide 15: Advanced Polymer Solutions
Advanced Polymer Solutions Improved results despite headwinds from trade uncertainty and challenging markets 1Q25 market dynamics EBITDA ex. identified items USD, millions • Stronger seasonal demand and share gains despite trade uncertainty $46 • Customer focus bearing results with new business wins
Slide 16: Technology
Technology Step down in licensing sales with modest improvement in catalyst volumes EBITDA 1Q25 market dynamics USD, millions • Modestly higher catalyst volumes • Moderating licensing revenue due to slower global polyolefin industry growth Near-term outlook $118 $108 • Stable catalyst results • Lice
Slide 17: Near-term market outlook
Near-term market outlook Elevated uncertainty expected to continue • Potential upside due to lower feedstock • Steady global demand even in periods costs Packaging of economic uncertainty North • Potential for trade disruption as supply America chains re-adjust • Polyethylene price increase announce
Slide 18: Continuing to advance our strategy
Continuing to advance our strategy Progressing our long-term strategy Growing and upgrading the core through strategic acquisitions and divestments, organic growth projects, ongoing European review and exit from refining Disciplined growth in CLCS, progressing construction on MoReTec-1 and establish
Slide 19: Appendix
Appendix
Slide 20: LyondellBasell 2025 modeling information Update
LyondellBasell 2025 modeling information Update (USD, millions) 1Q 2Q 3Q 4Q 2025 Capital Expenditures Total CAPEX Major planned O&P Americas ~$105 ~$85 -- -- ~$190 ~$1.8 B maintenance Sustaining | Profit Generating CAPEX estimated EBITDA ~$1.2 B | ~$0.6 B impact O&P EAI -- -- -- -- -- Financial Metr
Slide 21: LYB Propylene Oxide and Derivatives supply network
LYB Propylene Oxide and Derivatives supply network Approximately 85% of global propylene oxide production is sold domestically Europe • Almost all European PO is domestic with <1% of the production going to some Middle Eastern and Asian countries Domestic Production Location • Roughly 80% of U.S. PO
Slide 22: Information related to financial measures
Information related to financial measures This presentation makes reference to certain “non-GAAP” financial measures as defined in Regulation G of the U.S. Securities Exchange Act of 1934, as amended. We report our financial results in accordance with U.S. generally accepted accounting principles, b
Slide 23: Information related to financial measures (continued)
Information related to financial measures (continued) We also present EBITDA, net income and diluted EPS exclusive of identified items. Identified items include adjustments for “lower of cost or market" (“LCM”), gain on sale of business, asset write-downs in excess of $10 million in aggregate for th
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