Syensqo Sa/nv · EURONEXT:SYENS
Syensqo Sa/nv — Q2 2025 Earnings Presentation
31 slides from Syensqo Sa/nv's earnings presentation, Jul 31, 2025
Slide 1: Second Quarter 2025 Results
DR. ILHAM KADRI CHIEF EXECUTIVE OFFICER SECOND CHRISTOPHER DAVIS QUARTER CHIEF FINANCIAL OFFICER 2025 RESULTS JULY 31, 2025 PETER BROWNING PRESIDENT OF SPECIALTY POLYMERS
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 Q2 2025 REVIEW 1 Q2 2025 FINANCIAL REVIEW 2 LOOKING AHEAD 3 3
Slide 4: Second Quarter Review
DR. ILHAM KADRI CHIEF EXECUTIVE OFFICER SECOND 1 QUARTER 2025 REVIEW 4
Slide 5: Second Quarter 2025 Highlights
SECOND QUARTER 2025 -3% YoY volumes HIGHLIGHTS NET SALES 1.59 € bn -1% YoY pricing Delivered on Q2 outlook in challenging macroeconomic environment 20 bps QoQ gross margin expansion driven by GROSS PROFIT 506 € mn 31.9% margin Materials 8% QoQ EBITDA growth, supported by Specialty Polymers & cost di
Slide 6: Executing Our Strategy
EXECUTING OUR STRATEGY Partnerships Growth investments Product innovation Financial milestones One Planet Successfully issued Strategic partnership New multi-year Expansion of market first €1.2 billion with Sinopec to drive Solef® PVDF contracts non-fluorosurfactant bond offering innovation in susta
Slide 7: Second Quarter 2025 Segment Highlights
SECOND MATERIALS PERFORMANCE & CARE QUARTER ■ 2% YoY net sales[1] growth in civil aerospace; 2% YoY ■ 4% YoY net sales growth in Novecare led by 2025 growth in space & defence growth & share gains in Agro and HPC SEGMENT ■ 3% YoY volume growth in Specialty Polymers (ex ■ 3% YoY net sales growth HIGH
Slide 8: Second Quarter 2025 Financial Review
CHRISTOPHER DAVIS CHIEF FINANCIAL OFFICER SECOND 2 QUARTER 2025 FINANCIAL REVIEW 8
Slide 9: Second Quarter 2025 Financial Results
SECOND QUARTER 2025 FINANCIAL RESULTS YoY YoY QoQ YoY YoY Underlying (€ million) Q2 2025 Q2 2024 Q1 2025 H1 2025 H1 2024 change organic change change organic Net sales 1,586 1,708 1,619 -7.1% -3.5% -2.0% 3,205 3,332 -3.8% -2.4% Gross profit 506 582 514 -13.0% - -1.5% 1,020 1,165 -12.5% - Gross profi
Slide 10: Second Quarter 2025 Performance by Segment
SECOND QUARTER 2025 PERFORMANCE BY SEGMENT € million Materials Performance & Care [1] Other Solutions [2] Net Sales Net Sales Net Sales EBITDA & Margin (%) EBITDA & Margin (%) EBITDA & Margin (%) 10 [1] Performance & Care comprises Novecare and Technology Solutions [2] Other Solutions comprises Arom
Slide 11: Second Quarter 2025 Underlying EBITDA Bridge
SECOND QUARTER 2025 UNDERLYING EBITDA BRIDGE Q2 2025 EBITDA (€ million) Year-on-Year [1] Q2 2024 Scope FX Q2 2024 Materials P&C Other Solutions Corporate Q2 2025 (constant scope & FX) 11 [1] Performance & Care
Slide 12: Disciplined Investments Focused on Materials
DISCIPLINED INVESTMENTS FOCUSED ON MATERIALS € million Corporate Growth capex[1] Growth capital invested in: Performance & Care Sustenance capex[2] Other Solutions ■ Tavaux expansion (France): Materials ○ PVDF for automotive, oil & gas, electronics ○ PVDC for food & pharma packaging ■ Fluorinated fl
Slide 13: Cash Conversion Remains Robust
CASH CONVERSION REMAINS ROBUST € million Cash flow from operating activities Cash conversion [1] 77% 906 72% 68% 774 751 LTM[2] Q2 2024 LTM Q1 2025 LTM Q2 2025 LTM[2] Q2 2024 LTM Q1 2025 LTM Q2 2025 [1] Cash conversion = (EBITDA +/- change in working capital - Sustenance Capex)/EBITDA 13 [2] Last Tw
Slide 14: Strong Financial Position
STRONG FINANCIAL POSITION Strong investment grade rating GEARING[2] S&P Stable outlook €1.7 bn 26% Underlying Net Debt undrawn committed € 3.0 bn BBB+ facilities Total cash & undrawn committed NET DEBT MOODY’S € 2.2 bn facilities leverage ratio [3] €1.3 bn Stable outlook cash[1] 1.7X Baa1 [1] Total
Slide 15: Balanced Debt Maturity Profile
BALANCED DEBT MATURITY PROFILE In € or $ million or in % New issuance New issuance May 28, 2025 May 28, 2025 $600 €600 $600 €600 €500 €500 5.85% 5.65% 4.00% €3.2 bn[1] 3.375% @4.01% 2.75% 2.50% Dec 2026 Dec 2028 Jun 2030 2031 2032 2033 Jun Jun 2025 2027 2029 2034 2035 € € $ € $ € Perp. Senior Senior
Slide 16: Looking Ahead
DR. ILHAM KADRI CHIEF EXECUTIVE OFFICER 3 LOOKING AHEAD 16
Slide 17: 2025 Outlook
2025 OUTLOOK EXCLUDING INCLUDING foreign exchange EXTERNAL MITIGATING foreign exchange & tariffs impact FACTORS ACTIONS & tariffs impact ■ Ongoing macro & end ■ Leverage global footprint - EBITDA[1] >€ 1.4bn demand uncertainty redirect sourcing EBITDA[1] ~€ 1.3bn ■ Strengthening of Euro versus ■ Imp
Slide 18: Q&A
Q&A 18
Slide 19: Supplementary Information
SUPPLEMENTARY INFORMATION 19
Slide 20: Second Quarter & First Half 2025 Key Figures
SECOND QUARTER & FIRST HALF 2025 KEY FIGURES IFRS Underlying (€ million) Q2 2025 Q2 2024 % YoY Q2 2025 Q2 2024 % YoY YoY organic Net sales 1,586 1,708 -7.1% 1,586 1,708 -7.1% -3.5% EBITDA 254 336 -24.2% 335 378 -11.2% -8.3% EBITDA margin 16.0% 19.7% -360 bps 21.1% 22.1% -100 bps -110 bps EBIT 103 17
Slide 21: Second Quarter & First Half 2025 Net Sales Bridges
SECOND QUARTER & FIRST HALF 2025 NET SALES BRIDGES Q2 2025 Net sales (€ million) H1 2025 Net sales (€ million) Year-on-Year Year-on-Year Q2 2024 Scope FX Q2 2024 Volume Price Q2 2025 H1 2025 Scope FX H1 2025 Volume Price H1 2025 (constant & mix (constant & mix scope & scope & FX) FX) 21
Slide 22: Second Quarter & First Half 2025 FCF Bridges
SECOND QUARTER & FIRST HALF 2025 FCF BRIDGES € million Q2 2025 Free Cash Flow Bridge H1 2025 Free Cash Flow Bridge Growth: -€62m Sustenance: -€50m Growth: -€153m Sustenance: -€136m Underlying Capex Change Change Financing Taxes FCF to Underlying Capex Change in Change Financing Taxes FCF to EBITDA i
Slide 23: Segment Performance: Materials
SEGMENT PERFORMANCE Materials The year-on-year decrease was primarily due to lower net sales in Specialty Polymers and, to a lesser extent, lower volumes in Composite Materials. This was partially offset by higher pricing in Composite Materials YoY YoY QoQ YoY YoY Underlying (€ million) Q2 2025 Q2 2
Slide 24: Segment Performance: Materials Net Sales Bridges
SEGMENT PERFORMANCE Materials Q2 2025 Net Sales (€ million) H1 2025 Net Sales (€ million) Year-on-Year Year-on-Year Q2 2024 Scope FX Q2 2024 Volume Price Q2 2025 H1 2024 Scope FX H1 2024 Volume Price H1 2025 (constant & mix (constant & mix scope & FX) scope & FX) 24
Slide 25: Segment Performance: Performance & Care
SEGMENT PERFORMANCE Performance & Care Net sales declined by 4% on a reported but increased by 1% on organic basis compared to the second quarter of 2024, driven by higher volumes in Novecare, partially offset by lower volumes in Technology Solutions YoY YoY QoQ YoY YoY Underlying (€ million) Q2 202
Slide 26: Segment Performance: Performance & Care Net Sales Bridges
SEGMENT PERFORMANCE Performance & Care Q2 2025 Net Sales (€ million) H1 2025 Net Sales (€ million) Year-on-Year Year-on-Year Q2 2024 Scope FX Q2 2024 Volume Price Q2 2025 H1 2024 Scope FX H1 2024 Volume Price H1 2025 (constant & mix (constant & mix scope & FX) scope & FX) 26
Slide 27: Segment Performance: Other Solutions
SEGMENT PERFORMANCE Other Solutions Net sales declined by 11% on a reported basis, and 7% organically versus the second quarter of 2024 as both Aroma Performance and Oil & Gas had lower volumes and pricing YoY YoY QoQ YoY YoY Underlying (€ million) Q2 2025 Q2 2024 Q1 2025 H1 2025 H1 2024 change orga
Slide 28: Segment Performance: Other Solutions Net Sales Bridges
SEGMENT PERFORMANCE Other Solutions Q2 2025 Net Sales (€ million) H1 2025 Net Sales (€ million) Year-on-Year Year-on-Year Q2 2024 Scope FX Q2 2024 Volume Price Q2 2025 H1 2024 Scope FX H1 2024 Volume Price H1 2025 (constant & mix (constant & mix scope & FX) scope & FX) 28
Slide 29: Second Quarter 2025 Regional Sales Mix
SECOND QUARTER 2025 REGIONAL SALES MIX ASIA-PACIFIC & REST OF AMERICAS THE WORLD EUROPE 1 2 3 41% net sales 35% net sales 24% net sales [1] +0.5% YoY -7.9% YoY -3.6% YoY [1] [1] industrial industrial industrial 36 sites 12 sites 14 sites major major major 4 R&I centers 3 R&I centers 5 R&I centers 29
Slide 30: Glossary
GLOSSARY ■ 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 ■ Cash conversion Is a ratio used to measure the conversion of EBITDA
Slide 31: Thank You
THANK INVESTOR YOU RELATIONS Sherief Bakr Robbin Moore-Randolph +44 7920 575 989 +1 470 493 2433 investor.relations@syensqo.com 31