Issue 16/2021 - The chemical giant's Q2 results at a glance

LG Chem's sales in the second quarter were $10.
22 billion, up 65.
2% year-on-year; Operating profit was USD 1.
99 billion, up 290.
2%
year-on-year.
Sales and operating profit both reached record quarterly highs, mainly due to significant growth in the petrochemical business, continued expansion of the battery materials business, and the highest quarterly sales in life sciences
.

ExxonMobil earned $4.
7 billion in the second quarter, compared to a loss of $1.
10 per diluted share and a loss of $1.
1 billion
in the second quarter of 2020.
Capital and exploration expenditures were $3.
8 billion in the second quarter, bringing the first half of 2021 to $6.
9 billion, in line
with a planned reduction in activity in the first half of the year.

Solvay's organic net sales increased 20% in the second quarter; Basic EBITDA of €602 million, 47% year-on-year; The basic EBITDA margin was 24.
5 percent, 4.
3 percentage points higher than the same period in 2020, mainly due to volume growth and structural cost reduction measures (structural cost savings of €510 billion), underlying net income of €276 million, doubling from the prior-year quarter, and free cash flow of €135 million
.

Arkema generated sales of €2.
4 billion in constant terms of scope and exchange rate in the second quarter, up 34.
6% year-on-year and 12.
1% compared to the second quarter of 2019; EBITDA was $478 million, up 67.
1% from the second quarter of 2020, and the EBITDA margin reached a record high of 20.
0%; Adjusted net income nearly tripled to EUR 267 million or EUR
3.
50 per share.

Chemours' net sales in the second quarter were $1.
7 billion, up 51% year-over-year; Net income was $66 million, earnings per share were $0.
39, adjusted net income was $205 million, excluding $169 million related to the Fayetteville site remediation and $25 million related to Delaware to resolve natural resource damage claims, adjusted earnings per share of $1.
20, up $1.
02 compared to the same period last year, and EBITDA of $366 million
.

Honeywell's second-quarter sales increased 18% year-over-year and endogenous sales increased 15% year-over-year, achieving both sales and segment margin growth
across all four business groups 。 Among them, the aerospace group increased by 7%, mainly due to the strong recovery of business jet and general aviation market demand as flight time returned to 2019 levels; Intelligent Building Technologies Group grew by 13%, mainly due to the global strength of a broad product portfolio; Performance Materials and Technologies Group increased 10 percent, driven by market demand for process solutions products and thermal solutions, increased UOP equipment volumes, licensing and petrochemical catalyst shipments, and continued strong growth in the Performance Materials business; Safety & Productivity Solutions grew 35 percent, driven by double-digit growth
in warehousing and workflow solutions, personal protective equipment, productivity solutions and services.

Clariant's sales in the second quarter were CHF 1,032 million, up 12% year-on-year; The EBITDA margin was 16.
8 percent, compared to 14.
6 percent
for the same period in 2020.
Among them, the performance of each business area is; Sales in the Catalysis segment increased by 7% to CHF 221 million and EBITDA margin of 19 percent.
Sales in the Care Chemicals segment increased by 11 percent to CHF 384 million and an EBITDA margin of 20.
1 percent; Sales in the Natural Resources segment increased by 17 percent to CHF 427 million and the EBITDA margin was 16.
9 percent
.

DSM's sales reached €4.
5 billion in the second quarter, €100 million more than analysts expected and up 10 percent
compared to the first six months of 2020.
Adjusted EBITDA increased by 22 percent to EUR 925 million
.
Of this, the turnover of the food sector grew steadily by 6% to 3.
4 billion euros.

In the Materials business, DSM noticed a significant increase in demand in the sector, with sales up by one-third to €971 million and adjusted operating profit of €235 million, 86%
higher than in the first half of 2020.

BP's revenue in the second quarter was $37.
598 billion, compared with $20.
776 billion in the same period last year, an increase of 81% year-on-year; Net income attributable to shareholders was US$3.
116 billion, compared to a loss of US$16.
848 billion
in the same period last year.
By business, natural gas and low-carbon energy revenue was US$5.
739 billion, up 78% year-on-year.
Oil production and operations revenue was US$5.
597 billion, up 69% year-over-year; Customer and product revenue was $31.
16 billion, up 75%
year-over-year.

Huntsman reported second-quarter revenue of $2,024 million, net income of $172 million, adjusted net income of $191 million, adjusted EBITDA of $334 million and adjusted effective tax rate of 20%.

Eastman's second-quarter sales revenue grew 38% year-over-year, with growth
in all reported business areas.
Volume/product mix increased by 20 percent
thanks to strong growth in the Specialties, Additives and Performance Materials businesses.
In addition, the price management advantage of the chemical intermediates business drove a 16%
increase in selling prices.
Compared to the second quarter of 2020, additives and functional materials volumes/product mix increased 23% and selling prices increased 9%, driving sales revenue up 35%; Specialty materials sales revenue increased 36%, primarily due to a 31% increase in volume/product mix; Sales revenue of chemical intermediates increased by 60%, mainly due to higher raw material prices driving sales prices to increase by 51%; Fiber sales revenue increased by 6%, mainly due to a 7% increase in volume/product mix, while a 2% decrease in selling prices also had a negative impact
.

Evonik's sales rose 29 percent to €3.
64 billion in the second quarter; adjusted net profit rose 58 percent to €253 million; adjusted earnings per share increased from €0.
34 to €0.
54; adjusted EBITDA increased by 42 percent to €649 million, even compared to the second quarter of 2019, before the pandemic, adjusted EBITDA increased by 15 percent, driven by all three growth divisions – Specialty Additives, Nutrition & Care and Smart Materials, which show resilience
despite the higher cost of raw materials.

Sales in the second quarter were €1.
501 billion, up 40 percent year-on-year and 10 percent sequentially.
EBITDA of €326.
6 million, approximately three times that of the same period last year, up 33% sequentially, with an EBITDA margin of 21.
8%; EBIT amounted to €233.
7 million and an EBIT margin of 15.
6 percent
.

Bayer sales increased by 12.
9 percent in the second quarter (Fx & portfolio adj.
).
Reached €10,854 million; net of special expenses of €3,901 million (Q2 2020: €12,511 million), EBIT was minus €2,281 million (Q2 2020: minus €10,784 million), net income was minus €2,335 million (Q2 2020: minus €9,548 million), and core earnings per share from continuing operations increased by 1.
3%.
It reached EUR 1.
61 and free cash flow declined by 17.
8 percent to EUR 1,152 million
.

SABIC's revenue in the second quarter was SAR 42.
42 billion ($11.
31 billion), up 13% sequentially and 72% year-on-year; Operating income totaled SAR 10.
06 billion ($2.
68 billion), up 45% sequentially; Net income was SAR 7.
64 billion ($2.
04 billion), up 57%
sequentially.

Saudi Aramco's net profit in the second quarter increased 288% year-on-year to $25.
5 billion; Free cash flow of $22.
6 billion; Capital expenditure was $7.
5 billion.

Net profit growth was primarily driven by higher oil prices and a recovery in global demand, supported
by the global easing of COVID-19 restrictions, vaccination campaigns, stimulus measures and acceleration of key market activity.

DuPont's net sales for the second quarter were $4.
1 billion, up 26% year-over-year; EBITDA of $1.
06 billion, up 53% year-over-year; Free cash flow of $224 million
.
Among them, the results of each business segment were: electronics and industrial business net sales of $1.
3 billion, an increase of 19% year-on-year; Water Treatment & Protection net sales of $1.
4 billion, up 14% year-over-year; Transportation & Materials net sales were $1.
3 billion, up 61%
year-over-year.