Nouryon sees strong sales growth in 2022

Recently, Nouryon released its 2022 annual results. Sales were approximately $5.8 billion, up 17% year-over-year, primarily due to higher product prices. After adjusting for the impact of foreign exchange, sales rose 24%. Adjusted EBITDA rose 15% year-on-year, driven by strong price increases throughout the year.

Among the various businesses, the high-performance solutions business unit's full-year sales increased by 20% to approximately US$4.15 billion; adjusted EBITDA increased by 22% to US$922 million. Sales growth was driven by higher pricing across the company, as well as strong growth in the Natural Resources and Pastoral Life business lines; full-year sales in the Technical Solutions segment rose 11% overall to more than $1.6 billion, driven primarily by Polymers Driven by higher pricing in the Specialty Chemicals and Renewable Fibers business lines. According to another introduction, Nouryon will continue to invest in growth opportunities in 2022, including the acquisition of an alkoxylation plant in Singapore to better meet the growing demand in Southeast Asia, and the acquisition of ADOB in Poland to expand Nouryon's crops Nutrition product line.

Charlie Shaver, Nouryon Chairman and CEO, said: "The full-year 2022 financial results underscore the resilience of our specialty product portfolio in a challenging macro environment. In 2022, our pricing increased significantly, more than offsetting 2021. and raw material costs in 2022. These pricing actions drove strong growth in our Adjusted EBITDA."