Major chemical companies' second quarter results are generally positive

Recently, BASF, Dow, Clariant, DSM, PPG, Corning, Bayer and many other international chemical companies have released their performance reports for the first half and second quarter of this year. The report shows that despite the weak demand in Europe, the serious disruption of the global covid-19 epidemic, unfavorable currency conversion and other factors, the sales performance of these companies still generally achieved sustained growth, and generally maintained a positive trend.

Most chemical companies achieved bright results

From the above-mentioned chemical companies' second quarterly reports, most of them had very bright results, but some of them were also negatively affected by various economic factors.

On July 11, BASF announced preliminary data for the second quarter of 2022. BASF's second quarter sales increased by 3.2 billion euros year-on-year to 23 billion euros, an increase of 16.3%.

On July 21, Dow announced its financial results for the second quarter of 2022: net sales were $15.7 billion, up 13 percent year-over-year, with growth in all operating segments and regions. All regions outside of Asia Pacific achieved net sales growth of 3 percent sequentially.

Clariant sales from continuing operations increased 29 percent to CHF 2,563 million in the first half of 2022. Record earnings before interest, taxes, depreciation and amortization (EBITDA) margin for the first half of the year improved from 16.5 percent to 17.0 percent. For the outlook for 2022, the Clariant Group expects a strong growth performance, with full-year sales of CHF 5 billion, and is looking to improve its margin levels in a challenging geopolitical environment.

There are also some companies whose revenue figures have been affected by geopolitical conflicts, epidemics and other factors, with some figures declining. on July 20, Dutch coatings giant AkzoNobel reported revenue of 205 million euros in the second quarter of 2022, up 46.61% year-on-year; net income attributable to shareholders of 106 million euros, down 59.38% year-on-year. AkzoNobel's Chief Executive Officer Vandry said that AkzoNobel's second quarter results were clearly impacted by factors such as the epidemic and shrinking stocks in the DIY channel for decorative paints in Europe. Customer demand is now back on track in June.

Crestron's second quarter 2022 results were generally solid, with sales up 18.9% year-on-year, climbing to €4.7 billion. This was driven in particular by higher average sales prices. The EBITDA margin declined by 33.0% in the second quarter, mainly due to significant increases in raw material and energy prices and lower sales volumes. Higher sales price levels, however, partially offset the impact of higher costs. Compared to last year's strong second quarter, net income declined 55.7% year-over-year in the second quarter of 2022.