INEOS Group reports net profit in Q2
by ChemOrbis Editorial Team - content@chemorbis.com
INEOS Group reported a net profit of €255 million for the second quarter of 2024 compared to a loss of €18.5 million in Q2 2023 and €190 million loss in the previous quarter. The company’s EBITDA for the second quarter of 2024 was €576 million, compared to €387 million for Q2 2023 and €516 million for Q1 2024.
The Olefins & Polymers North America segment reported an EBITDA of €189 million, down from €202 million in Q2 2023. The Ethylene market remained generally stable during the quarter, supported by consistent domestic demand, lower industry supply, and fewer export opportunities.
The Olefins & Polymers Europe segment reported an EBITDA of €177 million, a significant increase from €72 million in Q2 2023. While the market for olefins showed improvement, many industry crackers across Europe continue to operate at reduced capacity.
“North American markets were relatively robust, taking full benefit from their current cost advantage. Markets in Europe have shown improvement due to a steady increase in demand, whereas market conditions in Asia have remained soft in the quarter,” the company said.
The Olefins & Polymers North America segment reported an EBITDA of €189 million, down from €202 million in Q2 2023. The Ethylene market remained generally stable during the quarter, supported by consistent domestic demand, lower industry supply, and fewer export opportunities.
The Olefins & Polymers Europe segment reported an EBITDA of €177 million, a significant increase from €72 million in Q2 2023. While the market for olefins showed improvement, many industry crackers across Europe continue to operate at reduced capacity.
“North American markets were relatively robust, taking full benefit from their current cost advantage. Markets in Europe have shown improvement due to a steady increase in demand, whereas market conditions in Asia have remained soft in the quarter,” the company said.
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