Nouryon achieves profit growth in 2020 and continues to focus on customer cooperation and operational excellence

Nouryon released its 2020 financial report.
With continuous investment in customer cooperation and strict cost management, it will achieve profit growth throughout 2020.

"I am satisfied with the performance in 2020 because it reflects our response to customer demand and the correctness of our strategic investment in high growth and strong end markets," said Nouryon Chairman and CEO Charlie Shaver.
"The advantage of our business composition lies in the diversity of our customer base and the global nature of our business.
Supporting this advantage is the cost control of our team and our ability to bring innovative and sustainable solutions to the market in a timely manner.
"

Although the new crown epidemic has reduced demand in some markets, in many key end markets of Nouryon (such as the agriculture and home care industries), overall demand remains strong.
Due to the decline in prices and sales, sales for the full year of 2020 fell by 4%, while adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) increased by 3% to 1.
162 billion euros.
With the company's strong cash flow, this fiscal year also completed the debt repayment of 100 million euros ahead of schedule.

"In 2020, we will achieve sustained and steady growth in China, with sales and profits increasing significantly," Nouryon's senior vice president in charge of China and emerging markets, Sobers Sethi, added.

Charlie Shaver added that the company's targeted transformation actions are currently continuing to produce positive results.
For example, in 2020, it acquired the carboxymethyl cellulose (CMC) business of JM Huber, which significantly broadened the CMC product portfolio.
CMC is a sustainable bio-based water-soluble polymer that is widely used in various end markets, including household and personal care as well as construction, food and pharmaceuticals.

Such strategic acquisitions and the divestiture of non-core businesses highlight Nouryon’s strategies, such as the sale of the redispersible latex powder (RPP) business in 2020, and the recently announced divestiture of the specialty salt business.
These strategic initiatives are highly matched to customer needs, aiming to focus on the key specialty chemicals market.
The renaming of the industrial chemicals business to Nobian further strengthens this strategy, enabling Nouryon to continue to strengthen its leading position in the global specialty chemicals field.

On the basis of winning the EcoVadis silver medal in 2020, Nouryon is committed to higher sustainable development goals.
Specifically, the goal is to achieve a 25% reduction in carbon emissions by 2025, and to reduce the proportion of low-carbon and renewable energy.
Increase to 60%.

About Nouryon 

Nouryon is a global leader in specialty chemicals.