This is the 76th successive quarterly dividend that Westlake has declared since completing its initial public offering in August 2004.

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 showed a solid performance in the second quarter of 2023, despite adverse market conditions.

In a weak economic environment, the company achieved its EBITDA-guidance for the second quarter of 2023 of EUR 330 million to EUR 430 million.

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. 

The results show consolidated net sales increased 6.3% in the quarter to a record $6.24 billion, and net sales from stores in United States and Canada open more than 12 calendar months increased 9.5% in the quarter, among other key takeaways. 

The company’s second quarter results deliver on expectations with resilient volumes, profits up, and a strong free cash flow.

"Overall, we have recorded significant improvement in margins, both sequentially as well as on year‐on‐year basis, aided by strong efforts on driving operational, formulation and sourcing efficiencies and supported by easing inflation in raw material prices,” said Amit Syngle, Managing Director & CEO of Asian Paints Limited.