Articles Tagged with ''financial results''

The results show a solid year, and Q4 confirms positive momentum in margin expansion and deleveraging efforts that are expected to continue in 2024. 

"We delivered significant year-over-year cash flow improvement in 2023, including a strong fourth quarter finish, which underscores our ongoing prioritization of working capital management," said Ed Breen, DuPont Executive Chairman and Chief Executive Officer. 

Highlights of the report include a 12% volume growth and 5.5% value growth in the company's Decorative Business segment in addition to showing a consistent double-digit volume growth trend on a four-year CGR basis.

After record-high fourth quarter net sales, full-year highlights also include record sales of $18.2 billion; aided by 3% organic sales growth.

For the full year, sales grew to a record $23.05 billion with a consolidated net sales increase of 4.1%.

In the third-quarter of 2023, Westlake achieved quarterly net sales of $3.1 billion, quarterly net income of $285 million and quarterly EBITDA (earnings before interest expense, income taxes, depreciation and amortization) of $682 million.

Consolidated sales in Q2/2023 totaled 269,232 million KRW, gross profit margin was 8.3%-points lower in Q2/2023 than in Q2/2022, and net profit in Q2/2023 was 11,956 million KRW.

Compared with the same period last year, adjusted EBITDA fell by 38 percent. Evonik already published preliminary figures for the second quarter on July 10.

The company had a sales decline by 24.7% to €17.3 billion, and EBIT before special items was down by €1.3 billion to €1.0 billion.

The housing and infrastructure products segment provided earnings stability according to the company's quarterly release.