Syensqo (SYENS) Q3 2026 earnings summary

Executive summary

• Q3 net sales were €1,590m, up 11.4% reported and 8.9% organically; underlying EBITDA was €320m, down 0.1% reported YoY.

• Materials led sales growth; Performance & Care improved EBITDA and margin, while Other Solutions weakened.

• FY 2026 guidance: underlying EBITDA of at least €1.1bn, operating cash flow of at least €700m and capex below €450m.

Financial highlights

• Q3 net sales were €1,590m, up 11.4% reported and 8.9% organically; volumes rose 7% and pricing contributed 2%.

• Gross profit increased 6.6% to €502m; gross margin fell 140 bps YoY to 31.6%, reflecting higher raw-material costs and mix.

• Underlying EBITDA was €320m, down 0.1% reported and 1.4% organically; underlying EBIT was €184m, down 3.3%.

• IFRS profit attributable to shareholders was €70m versus €39m; underlying profit was €109m versus €110m, and underlying EPS was €1.07 versus €1.08.

• 9M sales rose 2.5% to €4,544m; underlying EBITDA declined 7.4% to €882m. Operating cash flow was €284m in Q3 and €497m YTD.

Outlook and guidance

• FY 2026 volume growth is expected in the low-to-mid single digits; Q4 volume growth is expected in the mid-to-high single digits.

• FY underlying EBITDA guidance remains at least €1.1bn; Q1 underlying EBITDA of €251m is expected to be the year's low point.

• FY operating cash flow guidance increased to at least €700m; a Q4 working-capital inflow is expected.

• FY capex guidance fell below €450m, with project spending timing shifting from 2026 to 2027.