LyondellBasell Industries N.V. SEC 10-Q Report

LyondellBasell Industries N.V., a leading global chemical company, has released its Form 10-Q report for the second quarter of 2025. The report provides a comprehensive overview of the company's financial and operational performance, highlighting key metrics and significant business developments.

Financial Highlights

Sales and other operating revenues: $7,658 million, reflecting a 10% decrease in the first six months of 2025 compared to the same period in 2024 due to lower sales volumes and average sales prices.

Cost of sales: $6,871 million, decreased by 4% in the second quarter of 2025 compared to the first quarter of 2025, primarily due to lower feedstock and energy costs.

Operating income: $285 million, increased by 150% in the second quarter of 2025 compared to the first quarter of 2025, driven by improved margins in the I&D and O&P-Americas segments.

Net income: $115 million, decreased significantly in the first six months of 2025 compared to the same period in 2024, primarily due to lower operating income and the absence of a gain on sale of business recognized in 2024.

Net income attributable to the Company shareholders: $114 million, reflecting the impact of lower operating income and increased tax provisions.

Basic earnings per share: $0.34, reflecting the decrease in net income attributable to shareholders.

Diluted earnings per share: $0.34, consistent with basic earnings per share, indicating no significant impact from dilutive securities.

Business Highlights

Olefins and Polyolefins-Americas Segment Performance: The O&P-Americas segment experienced a 25% increase in EBITDA in Q2 2025 compared to Q1 2025, primarily due to higher polyethylene margins. However, EBITDA decreased by 53% in the first six months of 2025 compared to the same period in 2024, as margins decreased across most businesses.

Olefins and Polyolefins-Europe, Asia, International Segment Performance: The O&P-EAI segment saw a decrease in operating income by $82 million in the first six months of 2025 compared to the same period in 2024. This was partly due to a non-cash impairment related to European assets classified as held for sale.

Intermediates and Derivatives Segment Performance: The I&D segment's operating income decreased by $462 million in the first six months of 2025 compared to the same period in 2024. This was influenced by lower oxyfuels and related products margins due to decreased crude oil prices.

Advanced Polymer Solutions Segment Performance: The APS segment's operating income remained relatively stable, with a slight decrease of $1 million in the first six months of 2025 compared to the same period in 2024.

Technology Segment Performance: The Technology segment experienced a decrease in operating income by $117 million in the first six months of 2025 compared to the same period in 2024, as the pace of global polyolefin capacity additions moderated.

Geographical Performance: The company noted improvements in the O&P-EAI segment due to lower feedstock costs and increased seasonal demand, particularly in Europe. However, the segment was impacted by a non-cash impairment related to European assets held for sale.

Future Outlook: The company anticipates recognizing a loss on the sale of select olefins & polyolefins assets in Europe, estimated between $700 million to $900 million, upon closing in the first half of 2026. Additionally, the company plans to permanently close the Propylene Oxide Styrene Monomer production unit at the Maasvlakte site in the Netherlands, with estimated shutdown costs of approximately $215 million through 2027.

SEC Filing: LyondellBasell Industries N.V. [ LYB ] - 10-Q - Aug. 01, 2025