LyondellBasell(US:LYB)2026-01-30 11:31Financial Performance - Q4 2025 net loss was $140 million, or $(0.45) per diluted share, with EBITDA of $345 million, or $417 million excluding identified items[7] - Full year 2025 net loss totaled $738 million, or $(2.34) per diluted share, with EBITDA of $1.1 billion, or $2.5 billion excluding identified items[9] - For the year ended December 31, 2025, the company reported a net loss of $738 million, compared to a net income of $1,367 million for the year ended December 31, 2024[29] - EBITDA for the year ended December 31, 2025, was $1,126 million, a significant decrease from $3,460 million in 2024[29] - Net income excluding identified items for the year ended December 31, 2025, was $563 million, compared to $2,038 million in 2024[29] - Diluted earnings per share excluding identified items for the year ended December 31, 2025, was $1.70, down from $6.22 in 2024[35] Cash Flow and Liquidity - Generated $2.3 billion in cash from operating activities with a cash conversion rate of 95%[5] - Cash conversion for the year ended December 31, 2025, was 95%, calculated as net cash provided by operating activities of $2,262 million divided by EBITDA excluding certain identified items[38] - Total liquidity as of December 31, 2025, is $8,099 million, comprising $3,449 million in cash and liquid investments and $4,650 million in available credit facilities[39] Capital Expenditures and Investments - The company plans to invest $1.2 billion in capital expenditures for 2026, focusing on safe operations and ongoing projects like MoReTec-1[13] - In 2025, the company reinvested $1.9 billion through capital expenditures and returned $2.0 billion to shareholders via dividends and share repurchases[10] Dividends and Share Repurchases - Dividends paid on common stock for the year ended December 31, 2025, amounted to $1,764 million, with an additional $201 million spent on share repurchases[40] - The total of dividends and share repurchases for the year reached $1,965 million[40] Operational Challenges - North American polyethylene margins compressed due to higher feedstock costs and lower seasonal demand, impacting overall performance[8] - The company is aligning first quarter operating rates with global demand, planning to operate at approximately 85% for Olefins & Polyolefins Americas assets[14] Strategic Initiatives - LyondellBasell's strategy includes optimizing its business portfolio while maintaining a focus on safety and operational excellence[12] - The Cash Improvement Plan exceeded its $600 million target for 2025 by $200 million, raising the cumulative target to $1.3 billion by the end of 2026[6] - The Cash Improvement Plan announced in April 2025 resulted in employee-related charges across all segments, contributing to the financial performance focus[31] - The company announced plans to sell select olefins and polyolefins assets in Europe in June 2025, leading to associated transaction costs[33] Asset Management - LyondellBasell divested four European assets, expected to complete in Q2 2026[5] - The permanent closure of the Dutch PO joint venture asset in March 2025 resulted in shutdown-related charges of $126 million in the Intermediates & Derivatives segment[32] - The company ceased operations at its Houston refinery in February 2025, with the refining business reported as a discontinued operation[34] Non-Cash Charges - The company recognized non-cash asset write-downs of $1,251 million for the year ended December 31, 2025, including goodwill impairment charges of $400 million and $572 million in the Advanced Polymer Solutions segment[30]