Chemical companies hope to see the end of the tunnel in 2024, after a trying year 2023.
The giants of this sector, whose activity depends on demand from other industries, have mostly seen their sales collapse last year.
The turnover of BASF, the German leader, fell by 21%, to 69 billion euros, while its operating profit fell by a third.
Sales of the French Arkema fell by 16.1%, to 9.5 billion euros, and those of Syensqo, the company born last fall from the split of the Belgian Solvay, by 18% (1.5 billion euros).
“
2023 was a difficult year for the entire industry
,” noted Ilham Kadri, Managing Director of Syensqo, on Tuesday during the presentation of the annual results.
The macroeconomic environment was not supportive, and our customers massively destocked
the
products they had ordered during the strong post-Covid recovery.
Chemicals suffered from weak demand in the automobile industry…
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