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Industry | 21 chemical giants including BASF and Covestro announce 2019 annual results!

 Last Update: 2021-04-29
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75em; text-indent: 2em;">Globally, major chemical companies have successively announced their performance in 2019.
Let us take a look at their respective performance in 2019, as well as their outlook and forecast for 2020.

Globally, major chemical companies have successively announced their performance in 2019.
Let us take a look at their respective performance in 2019, as well as their outlook and forecast for 2020.

75em; text-indent: 2em;">The following data are from official announcements of various companies.

Some companies that have not publicly released the 2019 annual report data are not included in the statistics.

The following data are from official announcements of various companies.

75em; text-indent: 2em;">BASF

BASF

75em; text-indent: 2em;">The BASF Group's sales in 2019 were 59.

3 billion euros, which was slightly lower than the previous year due to the influence of sales volume and prices.
Earnings before interest and taxes excluding special items were 4.
5 billion euros, a year-on-year decrease of 1.
7 billion euros, mainly due to the decline in revenues in the two major business areas of materials and chemicals.

75em; text-indent: 2em;">BASF is accelerating the streamlining of its organizational structure.

BASF announced that it will reduce 6,000 jobs globally by the end of 2021.
This goal now appears to be completed before the end of 2020.
Last year, BASF has lost 3,100 jobs worldwide.

75em; text-indent: 2em;">The BASF Group's sales in 2019 were 59.
3 billion euros, which was slightly lower than the previous year due to the influence of sales volume and prices.
Earnings before interest and taxes excluding special items were 4.
5 billion euros, a year-on-year decrease of 1.
7 billion euros, mainly due to the decline in revenues in the two major business areas of materials and chemicals.

The BASF Group's sales in 2019 were 59.
3 billion euros, which was slightly lower than the previous year due to the influence of sales volume and prices.
Earnings before interest and taxes excluding special items were 4.
5 billion euros, a year-on-year decrease of 1.
7 billion euros, mainly due to the decline in revenues in the two major business areas of materials and chemicals.

75em; text-indent: 2em;">BASF is accelerating the streamlining of its organizational structure.

BASF announced that it will reduce 6,000 jobs globally by the end of 2021.
This goal now appears to be completed before the end of 2020.

BASF is accelerating the streamlining of its organizational structure.

75em; text-indent: 2em;">

75em; text-indent: 2em;">BASF predicts that the new coronavirus will have a significant impact on a global scale, especially in the first and second quarters of 2020.

This forecast currently does not consider that once the virus spreads on a global scale, it will not only have a major adverse impact on the global economy in the first half of the year.
Baumuller, Chairman of the Executive Board of BASF Europe, said: "We believe that the impact of the epidemic will continue for a whole year.
"

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75em; text-indent: 2em;">2019124(936)，15.

1%；(EBITDA)，16(121)，49.
9%。

75em; text-indent: 2em;">，、，，2.

3%。，，21.
5%57.
79(436)，EBITDA63.
2%6.
48(49)。

75em; text-indent: 2em;">2019124(936)，15.

1%；(EBITDA)，16(121)，49.
9%。

2019124(936)，15.
1%；(EBITDA)，16(121)，49.
9%。

75em; text-indent: 2em;">，、，，2.

3%。，，21.
5%57.
79(436)，EBITDA63.
2%6.
48(49)。

，、，，2.
3%。，，21.
5%57.
79(436)，EBITDA63.
2%6.
48(49)。

75em; text-indent: 2em;">，，2.
7%。，14.
3%34.
73(262)，EBITDA48.
3%5.
36(40)。，201820192.
2%。

75em; text-indent: 2em;">、，20191%，2018，23.
69(179)。DIC Covestro Polymer Ltd。，EBITDA1.
1%4.
69(35)。

75em; text-indent: 2em;">In view of the still severe market environment, Covestro announced in January 2020 that it would suspend its MDI investment project in Baytown, USA for 18 to 24 months.

75em; text-indent: 2em;">The polycarbonate business segment benefited from strong demand in the electronics and home appliances and construction industries, and sales in the past year increased by 2.
7% year-on-year.
However, the same year-on-year decline due to intensified market competition resulted in a 14.
3% decrease in sales to 3.
473 billion euros (approximately 26.
2 billion yuan), and a 48.
3% drop in EBITDA to 536 million euros (approximately 4 billion yuan).
In addition, the sale of the U.
S.
flat sheet business in the third quarter of 2018 also had a 2.
2% negative impact on fiscal 2019 sales.

The polycarbonate business segment benefited from strong demand in the electronics and home appliances and construction industries, and sales in the past year increased by 2.
7% year-on-year.
However, the same year-on-year decline due to intensified market competition resulted in a 14.
3% decrease in sales to 3.
473 billion euros (approximately 26.
2 billion yuan), and a 48.
3% drop in EBITDA to 536 million euros (approximately 4 billion yuan).
In addition, the sale of the U.
S.
flat sheet business in the third quarter of 2018 also had a 2.
2% negative impact on fiscal 2019 sales.

75em; text-indent: 2em;">The coatings, adhesives and specialty chemicals business segment was most affected by the weak demand in the automotive industry.
In 2019, sales in this segment fell by 1% year-on-year, and sales were basically the same as in 2018, reaching 2.
369 billion euros (approximately 17.
9 billion yuan).
However, due to exchange rate changes and Covestro’s exposure to Japan’s DIC Covestro Polymer Ltd.
The increase in its shares has a positive impact on its profits, and its EBITDA increased by 1.
1% to 469 million euros (about 3.
5 billion yuan).

The coatings, adhesives and specialty chemicals business segment was most affected by the weak demand in the automotive industry.
In 2019, sales in this segment fell by 1% year-on-year, and sales were basically the same as in 2018, reaching 2.
369 billion euros (approximately 17.
9 billion yuan).
However, due to exchange rate changes and Covestro’s exposure to Japan’s DIC Covestro Polymer Ltd.
The increase in its shares has a positive impact on its profits, and its EBITDA increased by 1.
1% to 469 million euros (about 3.
5 billion yuan).

75em; text-indent: 2em;">In view of the still severe market environment, Covestro announced in January 2020 that it would suspend its MDI investment project in Baytown, USA for 18 to 24 months.

In view of the still severe market environment, Covestro announced in January 2020 that it would suspend its MDI investment project in Baytown, USA for 18 to 24 months.

75em; text-indent: 2em;">LANXESS

LANXESS

75em; text-indent: 2em;">In 2019, LANXESS Group's sales were 6.
802 billion euros, basically the same as the previous year's level (6.
824 billion euros).
Net income from continuing operations was 240 million euros, a decrease of 14.
9% compared with the previous year's 282 million euros.
Earnings before interest, taxes, depreciation and amortization within the regular business scope increased by 3.
3% to 1.
019 billion euros.

In 2019, LANXESS Group's sales were 6.
802 billion euros, basically the same as the previous year's level (6.
824 billion euros).
Net income from continuing operations was 240 million euros, a decrease of 14.
9% compared with the previous year's 282 million euros.
Earnings before interest, taxes, depreciation and amortization within the regular business scope increased by 3.
3% to 1.
019 billion euros.

75em; text-indent: 2em;">The three major business segments of high-quality intermediates, special additives and high-performance chemicals all achieved strong performance, which made up for the decline in the engineering materials business segment, which was mainly caused by weak demand from the automotive industry.
Favorable exchange rate effects, especially the dollar exchange rate effect, provide support for gains.
The EBITDA margin within the regular business scope of the year reached 15.
0% for the first time, surpassing the 14.
4% of the previous year.

75em; text-indent: 2em;">LANXESS expects that its operating business will remain stable in the 2020 fiscal year, but the new crown epidemic will have an impact of 50 million to 100 million euros on its operating results for the entire year.
Therefore, LANXESS generally expects EBITDA within its regular business scope to reach 900 million to 1 billion euros.
The specialty chemicals company currently estimates that the cost of the new crown epidemic in the first quarter of 2020 is about 20 million euros.

The three major business segments of high-quality intermediates, special additives and high-performance chemicals all achieved strong performance, which made up for the decline in the engineering materials business segment, which was mainly caused by weak demand from the automotive industry.
Favorable exchange rate effects, especially the dollar exchange rate effect, provide support for gains.
The EBITDA margin within the regular business scope of the year reached 15.
0% for the first time, surpassing the 14.
4% of the previous year.

LANXESS expects that its operating business will remain stable in the 2020 fiscal year, but the new crown epidemic will have an impact of 50 million to 100 million euros on its operating results for the entire year.
Therefore, LANXESS generally expects EBITDA within its regular business scope to reach 900 million to 1 billion euros.
The specialty chemicals company currently estimates that the cost of the new crown epidemic in the first quarter of 2020 is about 20 million euros.

75em; text-indent: 2em;">Evonik

Evonik

75em; text-indent: 2em;">Evonik Industries released its 2019 financial report.
The financial report showed that adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was 2.
153 billion euros, compared with 2.
150 billion euros the previous year.
Sales in 2019 were 13.
1 billion euros, a slight decrease of 1% from last year.
In 2020, Evonik expects sales in its specialty chemicals business area to increase.
However, the weak global economic environment is not conducive to the partial commodity business.
Based on this, the company expects that sales in 2020 will remain stable, and adjusted EBITDA will be between 2 billion and 2.
3 billion euros.

Evonik Industries released its 2019 financial report.
The financial report showed that adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) was 2.
153 billion euros, compared with 2.
150 billion euros the previous year.
Sales in 2019 were 13.
1 billion euros, a slight decrease of 1% from last year.
In 2020, Evonik expects sales in its specialty chemicals business area to increase.
However, the weak global economic environment is not conducive to the partial commodity business.
Based on this, the company expects that sales in 2020 will remain stable, and adjusted EBITDA will be between 2 billion and 2.
3 billion euros.

75em; text-indent: 2em;">On July 1, 2020, Evonik’s current business segment will be reorganized into four major business units: specialty additives, nutrition and care, smart materials, and functional materials.
These four major departments are more balanced in terms of scale and business types.
They will each play a clear strategic role, face a common terminal market, share a unified standard technology platform, and make it easier to manage.
By then, the four major business departments will also have their own streamlined and efficient organizational structures.

On July 1, 2020, Evonik’s current business segment will be reorganized into four major business units: specialty additives, nutrition and care, smart materials, and functional materials.
These four major departments are more balanced in terms of scale and business types.
They will each play a clear strategic role, face a common terminal market, share a unified standard technology platform, and make it easier to manage.
By then, the four major business departments will also have their own streamlined and efficient organizational structures.

75em; text-indent: 2em;">Leander Basel

Leander Basel

75em; text-indent: 2em;">Lyondell Basel is headquartered in Houston and London.
In 2019, its sales fell 11% to 34.
7 billion U.
S.
dollars, while its annual profit fell nearly 28% to below 3.
4 billion U.
S.
dollars.
The company is one of the world's largest manufacturers of polyethylene and polypropylene resins and the largest plastic compounder in North America.

75em; text-indent: 2em;">Lyondell Basel Industries is one of the world's largest plastics, chemical and oil refining companies.
Lyondell Basel Industries is the founding company of polyolefin technology.
It can be traced back to Mr.
Nata, who won the Nobel Prize for polyolefin technology.
It is currently the world’s largest polyolefin manufacturer and the main provider of polyolefin technology.
It is also a continuous innovator of polyolefin catalysis technology.

Lyondell Basel is headquartered in Houston and London.
In 2019, its sales fell 11% to 34.
7 billion U.
S.
dollars, while its annual profit fell nearly 28% to below 3.
4 billion U.
S.
dollars.
The company is one of the world's largest manufacturers of polyethylene and polypropylene resins and the largest plastic compounder in North America.

Lyondell Basel Industries is one of the world's largest plastics, chemical and oil refining companies.
Lyondell Basel Industries is the founding company of polyolefin technology.
It can be traced back to Mr.
Nata, who won the Nobel Prize for polyolefin technology.
It is currently the world’s largest polyolefin manufacturer and the main provider of polyolefin technology.
It is also a continuous innovator of polyolefin catalysis technology.

75em; text-indent: 2em;">Clariant

Clariant

75em; text-indent: 2em;">Clariant's annual sales from continuing operations for 2019 totaled 4.
399 billion Swiss francs, and in 2018 it was 4.
404 billion Swiss francs.
In local currency, organic sales increased by 3%, and despite the adverse effects of exchange rate fluctuations, it remained stable in Swiss francs.
Earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations (excluding European Commission accruals) rose to 692 million Swiss francs, corresponding to a profit margin of 15.
7%.

Clariant's annual sales from continuing operations for 2019 totaled 4.
399 billion Swiss francs, and in 2018 it was 4.
404 billion Swiss francs.
In local currency, organic sales increased by 3%, and despite the adverse effects of exchange rate fluctuations, it remained stable in Swiss francs.
Earnings before interest, taxes, depreciation and amortization (EBITDA) from continuing operations (excluding European Commission accruals) rose to 692 million Swiss francs, corresponding to a profit margin of 15.
7%.

75em; text-indent: 2em;">Arkema

Arkema

75em; text-indent: 2em;">Arkema's sales in 2019 reached 8.
7 billion euros, close to last year's level (8.
8 billion euros).

75em; text-indent: 2em;">Earnings before interest, taxes, depreciation and amortization (EBITDA) reached 1.
457 billion euros, which was comparable to the record level in 2018 (down 1.
2%); the EBITDA margin was 16.
7%, maintaining a high level.
Adjusted net income was 625 million euros.

75em; text-indent: 2em;">Free cash flow has grown strongly, reaching 667 million euros, and the conversion rate between EBITDA and cash is excellent, as high as 52% (38% in 2018)

75em; text-indent: 2em;">Arkema's sales in 2019 reached 8.
7 billion euros, close to last year's level (8.
8 billion euros).

Arkema's sales in 2019 reached 8.
7 billion euros, close to last year's level (8.
8 billion euros).

Earnings before interest, taxes, depreciation and amortization (EBITDA) reached 1.
457 billion euros, which was comparable to the record level in 2018 (down 1.
2%); the EBITDA margin was 16.
7%, maintaining a high level.
Adjusted net income was 625 million euros.

75em; text-indent: 2em;">Free cash flow has grown strongly, reaching 667 million euros, and the conversion rate between EBITDA and cash is excellent, as high as 52% (38% in 2018)

Free cash flow has grown strongly, reaching 667 million euros, and the conversion rate between EBITDA and cash is excellent, as high as 52% (38% in 2018)

75em; text-indent: 2em;">Solvay

Solvay

75em; text-indent: 2em;">Solvay's full-year net sales in 2019 were 10.
244 billion euros, down 0.
1% year-on-year; net profit was 1.
075 billion euros, down 1% year-on-year.
Earnings before interest, taxes, depreciation and amortization fell from 2.
33 billion euros in the same period last year to 2.
322 billion euros, and earnings before interest and taxes fell from 1.
554 billion euros to 1.
503 billion euros.

75em; text-indent: 2em;">Solvay said that by 2020, 500 employees will be laid off and 150 new positions will be added.
The layoffs are part of its previously announced cost-saving plan.
These include 100 positions in France and 37 positions in Belgium, and 20 new positions will be added in Belgium.

Solvay's full-year net sales in 2019 were 10.
244 billion euros, down 0.
1% year-on-year; net profit was 1.
075 billion euros, down 1% year-on-year.
Earnings before interest, taxes, depreciation and amortization fell from 2.
33 billion euros in the same period last year to 2.
322 billion euros, and earnings before interest and taxes fell from 1.
554 billion euros to 1.
503 billion euros.

Solvay said that by 2020, 500 employees will be laid off and 150 new positions will be added.
The layoffs are part of its previously announced cost-saving plan.
These include 100 positions in France and 37 positions in Belgium, and 20 new positions will be added in Belgium.

75em; text-indent: 2em;">Henkel

Henkel

75em; text-indent: 2em;">Henkel's sales in 2019 increased by 1.
1% to 20.
114 billion euros.
The adjusted EBIT margin was 16.
0%.

75em; text-indent: 2em;">In 2019, Henkel's performance was generally differentiated.
The Adhesive Technology business unit has been affected by the slow growth of major customer markets, especially the automotive and electronics industries.
At the same time, in the consumer goods business, the detergent and home care business and the cosmetics/beauty products business are facing fierce competition in many markets.
In the uncertain industrial market environment, Henkel will further increase investment in growth areas.

75em; text-indent: 2em;">Henkel's sales in 2019 increased by 1.
1% to 20.
114 billion euros.
The adjusted EBIT margin was 16.
0%.

Henkel's sales in 2019 increased by 1.
1% to 20.
114 billion euros.
The adjusted EBIT margin was 16.
0%.

In 2019, Henkel's performance was generally differentiated.
The Adhesive Technology business unit has been affected by the slow growth of major customer markets, especially the automotive and electronics industries.
At the same time, in the consumer goods business, the detergent and home care business and the cosmetics/beauty products business are facing fierce competition in many markets.
In the uncertain industrial market environment, Henkel will further increase investment in growth areas.

75em; text-indent: 2em;">DSM

DSM

75em; text-indent: 2em;">DSM's revenue in 2019 was 9.
01 billion euros (approximately 9.
98 billion U.
S.
dollars), and in 2018 it was 9.
267 billion euros.
Among them, the sales of nutrition business was 6.
028 billion euros, and the sales of materials business was 2.
746 billion euros.
The adjusted EBITDA profit for the whole year was 1.
684 billion euros, compared with 1.
822 billion euros the previous year.
The net profit for the year was 764 million euros, compared with 1.
079 billion euros in the previous year.

DSM's revenue in 2019 was 9.
01 billion euros (approximately 9.
98 billion U.
S.
dollars), and in 2018 it was 9.
267 billion euros.
Among them, the sales of nutrition business was 6.
028 billion euros, and the sales of materials business was 2.
746 billion euros.
The adjusted EBITDA profit for the whole year was 1.
684 billion euros, compared with 1.
822 billion euros the previous year.
The net profit for the year was 764 million euros, compared with 1.
079 billion euros in the previous year.

75em; text-indent: 2em;">Akzo Nobel

Akzo Nobel

75em; text-indent: 2em;">Akzo Nobel's annual sales of 9.
276 billion euros in 2019 were a slight increase from 9.
256 billion euros in 2018.
The adjusted EBITDA profit for the whole year was 1.
341 billion euros, compared with 1.
037 billion euros last year, an increase of 29% year-on-year.
The net profit for the year was 538 million euros, compared with 6.
674 billion euros in the previous year.

Akzo Nobel's annual sales of 9.
276 billion euros in 2019 were a slight increase from 9.
256 billion euros in 2018.
The adjusted EBITDA profit for the whole year was 1.
341 billion euros, compared with 1.
037 billion euros last year, an increase of 29% year-on-year.
The net profit for the year was 538 million euros, compared with 6.
674 billion euros in the previous year.

75em; text-indent: 2em;">Dow

Dow

75em; text-indent: 2em;">Dow achieved sales of US$42.
988 billion in 2019, a year-on-year decrease of 16%; profit from continuing operations before income taxes was US$1.
247 billion, compared with US$3.
749 billion in the same period last year; losses in 2019 were as high as US$1.
717 billion, from continuing operations in the same period last year Net profit was US$2.
940 billion.

Dow achieved sales of US$42.
988 billion in 2019, a year-on-year decrease of 16%; profit from continuing operations before income taxes was US$1.
247 billion, compared with US$3.
749 billion in the same period last year; losses in 2019 were as high as US$1.
717 billion, from continuing operations in the same period last year Net profit was US$2.
940 billion.

75em; text-indent: 2em;">In terms of sales by business segment, Dow's materials and coatings business's net sales in 2019 were US$8.
961 billion, a year-on-year decrease of 9%; the net sales of industrial intermediates and infrastructure business were US$13.
449 billion, a year-on-year decrease of 13%; packaging and Net sales of specialty plastics business was US$20.
245 billion, a year-on-year decrease of 16%.

75em; text-indent: 2em;">In terms of regional sales, Dow’s 2019 sales in the U.
S.
/Canada, EMEAI, Asia-Pacific, and Latin America were US$15.
582 billion, US$14.
618 billion, US$8.
683 billion, and US$4.
115 billion, respectively, representing a year-on-year decrease of 13%.
16%, 8%, 18%.

In terms of sales by business segment, Dow's materials and coatings business's net sales in 2019 were US$8.
961 billion, a year-on-year decrease of 9%; the net sales of industrial intermediates and infrastructure business were US$13.
449 billion, a year-on-year decrease of 13%; packaging and Net sales of specialty plastics business was US$20.
245 billion, a year-on-year decrease of 16%.

In terms of regional sales, Dow’s 2019 sales in the U.
S.
/Canada, EMEAI, Asia-Pacific, and Latin America were US$15.
582 billion, US$14.
618 billion, US$8.
683 billion, and US$4.
115 billion, respectively, representing a year-on-year decrease of 13%.
16%, 8%, 18%.

75em; text-indent: 2em;">DuPont

DuPont

75em; text-indent: 2em;">For the full year of 2019, sales fell 5% year-on-year to US$21.
5 billion, and organic sales fell 2%.

75em; text-indent: 2em;">Affected by the weakness of the automotive and electronics markets and unfavorable exchange rates, operating EBITDA was US$5.
6 billion, down 4% year-on-year.
Operating EBITDA margin increased by 10 basis points.

75em; text-indent: 2em;">For the full year of 2019, sales fell 5% year-on-year to US$21.
5 billion, and organic sales fell 2%.

For the full year of 2019, sales fell 5% year-on-year to US$21.
5 billion, and organic sales fell 2%.

Affected by the weakness of the automotive and electronics markets and unfavorable exchange rates, operating EBITDA was US$5.
6 billion, down 4% year-on-year.
Operating EBITDA margin increased by 10 basis points.

75em; text-indent: 2em;">Huntsman

Huntsman

75em; text-indent: 2em;">Huntsman's net sales in 2019 were US$6.
797 billion, compared with US$7.
604 billion in the previous year.
The annual net profit was US$598 million, compared with US$650 million in the previous year.
Adjusted net profit in 2019 was 353 million U.
S.
dollars, compared with 642 million U.
S.
dollars in the same period last year.

Huntsman's net sales in 2019 were US$6.
797 billion, compared with US$7.
604 billion in the previous year.
The annual net profit was US$598 million, compared with US$650 million in the previous year.
Adjusted net profit in 2019 was 353 million U.
S.
dollars, compared with 642 million U.
S.
dollars in the same period last year.

75em; text-indent: 2em;">For Huntsman, 2019 is an unforgettable year with multiple milestones, which will greatly enhance the company's strength in the next few years.
The biggest milestone was the US$2 billion divestiture of the chemical intermediates and surfactant business, which greatly reduced upstream business.
Huntsman also received the remaining 50% of the investment in the maleic anhydride joint venture from Sasol, opened a new polyurethane composite plant in Dubai, and announced an agreement to acquire Icynene-Lapolla in early December, which will enable Huntsman The existing high-net-worth rubber production scale has doubled, and the spray foam business has also been expanded.

For Huntsman, 2019 is an unforgettable year with multiple milestones, which will greatly enhance the company's strength in the next few years.
The biggest milestone was the US$2 billion divestiture of the chemical intermediates and surfactant business, which greatly reduced upstream business.
Huntsman also received the remaining 50% of the investment in the maleic anhydride joint venture from Sasol, opened a new polyurethane composite plant in Dubai, and announced an agreement to acquire Icynene-Lapolla in early December, which will enable Huntsman The existing high-net-worth rubber production scale has doubled, and the spray foam business has also been expanded.

75em; text-indent: 2em;">Eastman

Eastman

75em; text-indent: 2em;">Eastman Chemical's annual sales in 2019 were 9.
273 billion U.
S.
dollars, compared with 10.
151 billion U.
S.
dollars in the previous year.
The adjusted EBIT profit for the whole year was US$1.
389 billion, compared with US$1.
633 billion in the previous year.

75em; text-indent: 2em;">Thanks to strong cash flow, stable balance sheet and sufficient liquidity support from multiple sources, Eastman is in a good financial position.

75em; text-indent: 2em;">Eastman ushered in a strong start in January this year, and its resilience was highlighted in February and early March.
It is expected that the earnings per share in the first quarter of 2020 will be higher than the same period last year and exceed previous expectations.
In addition, it is expected that the free cash flow (cash generated from operating activities minus net capital expenditures) in the first quarter will be close to break-even, much higher than the average level of the same period in previous years.

Eastman Chemical's annual sales in 2019 were 9.
273 billion U.
S.
dollars, compared with 10.
151 billion U.
S.
dollars in the previous year.
The adjusted EBIT profit for the whole year was US$1.
389 billion, compared with US$1.
633 billion in the previous year.

75em; text-indent: 2em;">Thanks to strong cash flow, stable balance sheet and sufficient liquidity support from multiple sources, Eastman is in a good financial position.

Thanks to strong cash flow, stable balance sheet and sufficient liquidity support from multiple sources, Eastman is in a good financial position.

Eastman ushered in a strong start in January this year, and its resilience was highlighted in February and early March.
It is expected that the earnings per share in the first quarter of 2020 will be higher than the same period last year and exceed previous expectations.
In addition, it is expected that the free cash flow (cash generated from operating activities minus net capital expenditures) in the first quarter will be close to break-even, much higher than the average level of the same period in previous years.

75em; text-indent: 2em;">PPG

PPG

75em; text-indent: 2em;">Net sales from continuing operations for the full year of 2019 were approximately US$15.
1 billion, a decrease of 1.
5% from the previous year, including approximately 3% of unfavorable foreign exchange conversion net sales, which was approximately US$400 million.
Compared with the same period last year, organic sales fell by nearly 1%, and sales related to acquisitions increased net sales by 2%.
Full-year net sales were affected by previously announced customer category changes, which reduced sales by nearly 1%.
Net income from continuing operations for the full year of 2019 was US$1.
2 billion, or diluted earnings per share of US$5.
22, compared to US$1.
3 billion or US$5.
40 per diluted share in 2018.
Adjusted earnings per share from continuing operations for the full year of 2019 increased by 5% to US$6.
22, compared with US$5.
92 in 2018, an increase of approximately 8% after excluding adverse foreign exchange effects.

Net sales from continuing operations for the full year of 2019 were approximately US$15.
1 billion, a decrease of 1.
5% from the previous year, including approximately 3% of unfavorable foreign exchange conversion net sales, which was approximately US$400 million.
Compared with the same period last year, organic sales fell by nearly 1%, and sales related to acquisitions increased net sales by 2%.
Full-year net sales were affected by previously announced customer category changes, which reduced sales by nearly 1%.
Net income from continuing operations for the full year of 2019 was US$1.
2 billion, or diluted earnings per share of US$5.
22, compared to US$1.
3 billion or US$5.
40 per diluted share in 2018.
Adjusted earnings per share from continuing operations for the full year of 2019 increased by 5% to US$6.
22, compared with US$5.
92 in 2018, an increase of approximately 8% after excluding adverse foreign exchange effects.

75em; text-indent: 2em;">Sherwin

Sherwin

75em; text-indent: 2em;">Sherwin-Williams' consolidated net sales in 2019 increased by US$366 million, or 2.
1%, to US$17.
9 billion, which was mainly due to the increase in sales and selling prices of the American Group's coatings.
Net profit in 2019 was US$1.
541 billion, a year-on-year increase of 39.
01%.

Sherwin-Williams' consolidated net sales in 2019 increased by US$366 million, or 2.
1%, to US$17.
9 billion, which was mainly due to the increase in sales and selling prices of the American Group's coatings.
Net profit in 2019 was US$1.
541 billion, a year-on-year increase of 39.
01%.

75em; text-indent: 2em;">Axalta

Axalta

75em; text-indent: 2em;">Axalta’s net sales in 2019 were US$4.
482 billion, a year-on-year decrease of 4.
6%.
Operating income increased from USD 442 million in 2018 to USD 488 million in 2019, an increase of 10.
4%.
The adjusted profit before interest and tax increased from US$675 million in 2018 to US$706 million in 2019, an increase of 4.
7%.

Axalta’s net sales in 2019 were US$4.
482 billion, a year-on-year decrease of 4.
6%.
Operating income increased from USD 442 million in 2018 to USD 488 million in 2019, an increase of 10.
4%.
The adjusted profit before interest and tax increased from US$675 million in 2018 to US$706 million in 2019, an increase of 4.
7%.

75em; text-indent: 2em;">SABIC

SABIC

75em; text-indent: 2em;">Saudi Basic Industries Corporation (SABIC) had revenue of SAR 139.
7 billion (approximately US$37.
2 billion) in 2019 and SAR 169.
1 billion in 2018.
The annual net profit was 8.
463 billion SAR, compared with 31.
9 billion SAR in the previous year.

Saudi Basic Industries Corporation (SABIC) had revenue of SAR 139.
7 billion (approximately US$37.
2 billion) in 2019 and SAR 169.
1 billion in 2018.
The annual net profit was 8.
463 billion SAR, compared with 31.
9 billion SAR in the previous year.

75em; text-indent: 2em;">

75em; text-indent: 2em;">LG Chem

LG Chem

75em; text-indent: 2em;">LG 2019 28 6250 （ 1682 ）， 8956 （ 52.
6 ）。

75em; text-indent: 2em;">， 1.
6%， 60.
1%。

75em; text-indent: 2em;">LG 2019 28 6250 （ 1682 ）， 8956 （ 52.
6 ）。

LG 2019 28 6250 （ 1682 ）， 8956 （ 52.
6 ）。

75em; text-indent: 2em;">， 1.
6%， 60.
1%。

， 1.
6%， 60.
1%。

75em; text-indent: 2em;">

75em; text-indent: 2em;">LG “，，，。”

LG “，，，。”

75em; text-indent: 2em;">

75em; text-indent: 2em;">，2019680.
51，6.
57%；101.
3，34.
92%。

75em; text-indent: 2em;">。，MDI，18%，9。

75em; text-indent: 2em;">2017，，3。2017，。，MDI210/，。

75em; text-indent: 2em;">3，，。

75em; text-indent: 2em;">，，40MDI25TDI。，80%。

75em; text-indent: 2em;">，2019680.
51，6.
57%；101.
3，34.
92%。

，2019680.
51，6.
57%；101.
3，34.
92%。

75em; text-indent: 2em;">。，MDI，18%，9。

。，MDI，18%，9。

75em; text-indent: 2em;">2017，，3。2017，。，MDI210/，。

2017，，3。2017，。，MDI210/，。

75em; text-indent: 2em;">3，，。

3，，。

75em; text-indent: 2em;">，，40MDI25TDI。，80%。

，，40MDI25TDI。，80%。

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