LyondellBasell(US:LYB)2025-04-26 01:09Financial Performance & Strategy - The company is targeting $500 million of incremental cash flow through a Cash Improvement Plan[11] - The company aims to achieve at least $1 billion recurring annual EBITDA run rate by year-end 2025 through the Value Enhancement Program[63] - The company returned $1.7 billion to shareholders through dividends and ~$300 million through share repurchases in the last 12 months[35] - First quarter 2025 EBITDA was $0.7 billion, but $0.6 billion excluding identified items[26] Cost Reduction & Capital Allocation - The company has achieved ~$300 million in fixed cost reductions since launching its strategy through portfolio management[10] - The company expects additional fixed cost reductions following the LYB European Strategic Review, where assets accounted for approximately $500 million in annual fixed costs in 2024[10, 11] - The company reduced 2023 CAPEX by ~$100 million and 2024 CAPEX by ~$300 million from initial guidance[10] - The company is targeting ~$100 million Capex reduction while maintaining strategic priorities[11] Market & Production - Less than 10% of the company's polyolefin sales volumes are directly impacted by escalating tariffs[12, 15] - Approximately 75% of the company's global polyolefin production is sold in domestic markets[15] - The company estimates >$150 million EBITDA benefit from Flex-2 unit[20]