Syensqo Sa/nv · EURONEXT:SYENS
Syensqo Sa/nv — FY2025 Earnings Presentation
37 slides from Syensqo Sa/nv's earnings presentation, Feb 26, 2026
Slide 1: Full Year 2025 Results
FULL YEAR MIKE RADOSSICH 2025 RESULTS CHIEF EXECUTIVE OFFICER FEBRUARY 26, 2026 CHRISTOPHER DAVIS CHIEF FINANCIAL OFFICER
Slide 2: Disclaimer
DISCLAIMER This presentation may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. The achievement of forward-looking statements contained in this presentation is subject to risks and uncertainties relating t
Slide 3: Agenda
AGENDA 2025 REVIEW 1 2025 FINANCIAL REVIEW 2 LOOKING AHEAD 3 3
Slide 4: Fourth Quarter & Full Year 2025 Review
MIKE RADOSSICH CHIEF EXECUTIVE OFFICER FOURTH 1 QUARTER & FULL YEAR 2025 REVIEW 4
Slide 5: Focus on Accelerating Value Creation
FOCUS ON ACCELERATING VALUE CREATION FIRST TWO MONTHS KEY INSIGHTS CEO PRIORITIES 5
Slide 6: What You Should Expect
WHAT YOU SHOULD 1 TRANSPARENCY EXPECT 2 EXECUTION EXCELLENCE 3 INNOVATION POWERHOUSE 4 DISCIPLINED CAPITAL DEPLOYMENT 6
Slide 7: Full Year 2025 Highlights
FULL YEAR 2025 -3% YoY volumes HIGHLIGHTS [1] NET SALES 6.14 € bn -1% YoY pricing Free cash flow above prior outlook Net sales impacted by lower volumes in Electronics; growth in Composite Materials & Technology Solutions GROSS PROFIT 1.90 € bn 31.0% margin Resilient margin performance in challengin
Slide 8: CEO Priorities
CEO PRIORITIES COMMERCIAL HIGH AND PERFORMANCE OPERATIONAL CULTURE EXCELLENCE OPTIMIZE SMARTLY OUR DEPLOYING PORTFOLIO CAPITAL 8
Slide 9: Full Year 2025 Financial Review
CHRISTOPHER DAVIS CHIEF FINANCIAL OFFICER FULL YEAR 2 2025 FINANCIAL REVIEW 9
Slide 10: Fourth Quarter & Full Year 2025 Financial Results
FOURTH QUARTER & FULL YEAR 2025 FINANCIAL RESULTS YoY YoY QoQ YoY YoY Pro forma (incl. Oil & Gas) [¹] Q4 2025 Q4 2024 Q3 2025 FY 2025 FY 2024 change organic change change organic Net sales 1,418 1,598 1,517 -11.3% -5.6% -6.5% 6,140 6,563 -6.5% -3.2% Gross profit 397 482 484 -17.6% - -18.0% 1,901 2,2
Slide 11: Fourth Quarter 2025 Performance by Segment
FOURTH QUARTER 2025 PERFORMANCE BY SEGMENT Pro forma[1] € million Materials Performance & Care [2] Other Solutions [1] Net Sales Net Sales Net Sales EBITDA & Margin (%) EBITDA & Margin (%) EBITDA & Margin (%) 11 [1] The pro forma figures include Oil & Gas, reported as "Discontinued Operations" in th
Slide 12: Fourth Quarter & Full Year 2025 Underlying EBITDA
FOURTH QUARTER & FULL YEAR 2025 UNDERLYING EBITDA Q4 2025 EBITDA pro forma[1] (€ million) Full year 2025 EBITDA pro forma[1] (€ million) Year-on-Year Year-on-Year [2] [3] [2] [3] Q4 2024 Scope FX Q4 2024 Materials P&C Other Solutions Corporate Q4 2025 FY 2024 Scope FX FY 2024 Materials P&C Other Sol
Slide 13: 16% YoY Reduction in Capital Expenditure
16% YoY REDUCTION IN CAPITAL EXPENDITURE Pro forma[1] (€ million) Growth capital invested in: Corporate Growth capex[1] Performance & Care Sustenance capex[2] ■ Tavaux expansion (France): Other Solutions ○ PVDF for Automotive, Oil & Gas, Electronics Materials ○ PVDC for Food & Pharma packaging ■ Exp
Slide 14: Strong Cash Conversion
STRONG CASH CONVERSION € million Cash flow from operating activities Cash conversion [1] 76% 841 71% 779 2024 2025 2024 2025 14 [1] Cash conversion = (EBITDA +/- change in working capital - Sustenance Capex)/EBITDA
Slide 15: Strong Financial Position
STRONG FINANCIAL POSITION Strong investment grade rating GEARING[2] S&P Stable outlook €1.5 bn 25% Underlying Net Debt undrawn committed € 2.5 bn BBB+ facilities Total cash & undrawn committed NET DEBT MOODY’S € 2.0 bn facilities leverage ratio [3] €0.9 bn Stable outlook cash[1] 1.7X Baa1 [1] Total
Slide 16: Increasing Shareholder Returns
INCREASING SHAREHOLDER RETURNS Proposed dividend for 2025 €1.62 per share Subject to shareholders’ approval 116 at the AGM | May 5, 2026 € million 64 Dividend Share Buyback 170 166 165 € 281 million in 2025 16 2023 2024 2025
Slide 17: Looking Ahead
MIKE RADOSSICH CHIEF EXECUTIVE OFFICER 3 LOOKING AHEAD 17
Slide 18: FY 2026 Outlook
FY 2026 OUTLOOK Return To Year-On-Year Volume Growth GROSS MARGIN broadly stable MATERIALS PERFORMANCE & CARE COST SAVINGS to offset variable and fixed costs inflation Composite Materials Novecare ■ Strong growth in Civil Aerospace ■ Low single digit volume EBITDA ■ Flattish Space & Defense growth d
Slide 19: Q&A
Q&A 19
Slide 20: Thank You
THANK INVESTOR YOU RELATIONS Sherief Bakr Robbin Moore-Randolph +44 7920 575 989 +1 470 493 2433 Loïc Flament Eva Behaeghe +32 478 69 74 20 +32 474 49 23 50 investor.relations@syensqo.com 20
Slide 21: Supplementary Information
SUPPLEMENTARY INFORMATION 21
Slide 22: 2026 Financial Considerations
2026 FINANCIAL CONSIDERATIONS D&A ➔ ~€500 million (excl. PPA amortization for Cytec of €130m and ~€60m relating to leases under IFRS 16) P&L Net financial expense ➔ ~€130 million, excluding cost of discounting & leases P&L Underlying tax rate ➔ ~27% FX sensitivity ➔ 0.10€/$ = €50-60 million change i
Slide 23: Fourth Quarter & Full Year 2025 Financial Results
FOURTH QUARTER & FULL YEAR 2025 FINANCIAL RESULTS YoY YoY QoQ YoY YoY Reported [¹] Q4 2025 Q4 2024 Q3 2025 FY 2025 FY 2024 change organic change change organic Net sales 1,329 1,505 1,427 -11.7% -6.2% -6.9% 5,762 6,162 -6.5% -3.3% Gross profit 387 472 471 -18.0% - -17.9% 1,846 2,162 -14.6% - Gross p
Slide 24: 2025 Review by End Market
2025 REVIEW BY END MARKET Materials % of 2025 net sales[1] 2025 vs 2024 Comments Performance & Care net sales growth Other Solutions AEROSPACE 20% High single digit growth in commercial aero despite Boeing destocking for the majority of the year. Solid demand from space & defense end market AUTOMOTI
Slide 25: One Planet | Driving Business Value
2025 Performance ONE PLANET | Driving business value ENVIRONMENTAL PEOPLE & STEWARDSHIP COMMUNITIES CLIMATE SUSTAINABLE 20% reduction in PORTFOLIO Safety freshwater withdrawal Aim for 51% reduction [2] zero RIIR[7] Carbon Neutrality in by 2030[2] at sites exposed to RIIR 0.22 vs 0.32 in 2024 water a
Slide 26: Fourth Quarter & FY 2025 Key Figures
FOURTH QUARTER & FY 2025 KEY FIGURES[1] IFRS Underlying (€ million) Q4 2025 Q4 2024 % YoY Q4 2025 Q4 2024 % YoY YoY organic Net sales 1,329 1,505 -11.7% 1,329 1,505 -11.7% -6.2% EBIT -93 -8 n.m. 97 133 -27.3% - EBIT margin - - - 7.3% 8.9% -160 bps - EBITDA 145 195 -25.6% 236 294 -19.7% -16.8% EBITDA
Slide 27: Fourth Quarter & FY 2025 Net Sales Bridges
FOURTH QUARTER & FY 2025 NET SALES BRIDGES[1] Q4 2025 Net sales (€ million) FY 2025 Net sales (€ million) Year-on-Year Year-on-Year Q4 2024 Scope FX Q4 2024 Volume Price Q4 2025 FY 2024 Scope FX FY 2024 Volume Price FY 2025 (constant & mix (constant & mix scope & scope & FX) FX) 27 [1] Reported figu
Slide 28: Fourth Quarter & FY 2025 FCF Bridges
FOURTH QUARTER & FY 2025 FCF BRIDGES[1] Q4 2025 (€ million) FY 2025 (€ million) Employee benefits:-€8m Environment: -€13m Growth: -€51m Restructuring: -€27m Sustenance: -€81m Other: -€4m Growth: -€258m Sustenance: -€292m Employee benefits:-€41m Environment: -€30m Restructuring: -€93m Other: -€18m Un
Slide 29: Segment Performance: Materials
SEGMENT PERFORMANCE Materials Net sales decreased by 8% on a reported basis, or 5% organically, versus 2024. This was primarily due to lower volumes and, to a lesser extent, lower pricing in Specialty Polymers, partially offset by higher net sales in Composite Materials YoY YoY QoQ YoY YoY Underlyin
Slide 30: Segment Performance: Materials
SEGMENT PERFORMANCE Materials Q4 2025 Net Sales (€ million) FY 2025 Net Sales (€ million) Year-on-Year Year-on-Year Q4 2024 Scope FX Q4 2024 Volume Price Q4 2025 FY 2024 Scope FX FY 2024 Volume Price FY 2025 (constant & mix (constant & mix scope & FX) scope & FX) 30
Slide 31: Segment Performance: Performance & Care
SEGMENT PERFORMANCE Performance & Care Net sales increased 1% organically, compared to 2024, reflecting stable overall volumes and pricing, with both Novecare and Technology Solutions delivering year-on-year net sales growth YoY YoY QoQ YoY YoY Underlying (€ million) Q4 2025 Q4 2024 Q3 2025 FY 2025
Slide 32: Segment Performance: Performance & Care
SEGMENT PERFORMANCE Performance & Care Q4 2025 Net Sales (€ million) FY25 2025 Net Sales (€ million) Year-on-Year Year-on-Year Q4 2024 Scope FX Q4 2024 Volume Price Q4 2025 FY 2024 Scope FX FY 2024 Volume Price FY 2025 (constant & mix (constant & mix scope & FX) scope & FX) 32
Slide 33: Segment Performance: Other Solutions
SEGMENT PERFORMANCE[1] Other Solutions Net sales declined 10% organically compared to 2024, reflecting lower volumes and, to a lesser extent, pricing YoY YoY QoQ YoY YoY Underlying (€ million) Q4 2025 Q4 2024 Q3 2025 FY 2025 FY 2024 change organic change change organic Net sales 65 81 67 -19.2% -15.
Slide 34: Segment Performance: Other Solutions
SEGMENT PERFORMANCE[1] Other Solutions Q4 2025 Net Sales (€ million) FY 2025 Net Sales (€ million) Year-on-Year Year-on-Year Q4 2024 Scope FX Q4 2024 Volume Price Q4 2025 FY 2024 Scope FX FY 2024 Volume Price FY 2025 (constant & mix (constant & mix scope & FX) scope & FX) 34 [1] Reported figures, ex
Slide 35: Full Year 2025 Regional Sales Mix
FULL YEAR 2025 REGIONAL SALES MIX[1] ASIA-PACIFIC & REST OF AMERICAS THE WORLD EUROPE 1 2 3 41% net sales 34% net sales 25% net sales [2] -0.2% YoY -6.2% YoY -4.2% YoY [2] [2] industrial industrial industrial 29 sites 11 sites 14 sites major major major 4 R&I centers 3 R&I centers 5 R&I centers [1]
Slide 36: Balanced Debt Maturity Profile
BALANCED DEBT MATURITY PROFILE In € or $ million or in % $600 €600 €600 $600 €500 5.85% 5.65% €2.7 bn[1] @4.29% 3.375% 4.00% 2.75% 2026 Dec 2028 Jun 2030 2031 2032 2033 Jun Jun 2027 2029 2034 2035 € $ € $ € Senior Senior Senior Senior Senior Note note Note note Note 36 [1] The face value of USD-deno
Slide 37: Glossary and One Planet Notes
GLOSSARY AND ONE PLANET NOTES One Planet ■ Cash flow from operating activities, or Operating cash flow are those generated from/(used by) the principal revenue-producing activities of the Group and other activities that are not investing or financing activities [1] Reduce Scope 1 and 2 emissions by