Syensqo reports underlying net earnings of €752 million for the 2023 financial year, and underlying EBITDA down 13.1%, but in line with its targets at €1.62 billion, representing a margin improvement of 10 basis points to 23.7%.

Net sales for the Belgian specialty chemicals group -formed from the recent demerger of Solvay- stood at 6.83 billion euros, down 10.2% organically on a record 2022, due to an 11% drop in volumes.

A dividend of 1.62 euros per share will be submitted to the AGM on May 23. For 2024, Syensqo anticipates underlying EBITDA of between 1.4 and 1.55 billion euros, with the lower end of this range 'in line with current market dynamics'.

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