LyondellBasell Industries N.V. reported its financial results for the first quarter of 2025, revealing a net income of $177 million, or $0.54 per diluted share, compared to a net loss of $603 million in the previous quarter and a net income of $473 million in the same period last year. The company's total sales and other operating revenues for the quarter were $7.677 billion, a decrease of 8% from $8.304 billion in the first quarter of 2024, primarily driven by lower sales volumes and unfavorable foreign exchange impacts. Operating income for the quarter was $114 million, a significant recovery from an operating loss of $597 million in the fourth quarter of 2024.
The company experienced notable changes in its operational structure, particularly with the cessation of operations at its Houston refinery, which has been classified as a discontinued operation. This strategic decision is part of LyondellBasell's broader efforts to streamline its operations and focus on more profitable segments. The company also announced plans to permanently close its Propylene Oxide Styrene Monomer production unit in the Netherlands, incurring $117 million in shutdown costs during the quarter. These changes reflect LyondellBasell's ongoing adjustments to market conditions and operational efficiencies.
In terms of operational metrics, LyondellBasell's cash flow from operating activities showed a significant outflow of $579 million, primarily due to increased working capital requirements. The company invested $483 million in capital expenditures during the quarter, maintaining its commitment to sustaining maintenance and growth projects. Shareholder returns included $433 million in dividends and $110 million in share repurchases, reflecting the company's strategy to return capital to shareholders while managing its liquidity.
Geographically, the company's revenues were diversified, with the United States contributing $2.855 billion, followed by Germany at $616 million and China at $480 million. The Olefins and Polyolefins-Americas segment generated $2.481 billion in revenues, while the Olefins and Polyolefins-Europe, Asia, International segment reported $2.600 billion. However, the Intermediates and Derivatives segment saw a decline in revenues to $2.298 billion, reflecting lower demand and pricing pressures.
Looking ahead, LyondellBasell anticipates seasonal demand improvements across most of its business segments in the second quarter of 2025. The company expects to benefit from moderated feedstock costs and improved margins in its oxyfuels segment during the summer driving season. Despite ongoing economic uncertainties, LyondellBasell remains focused on aligning its operations with global demand and maintaining a strong balance sheet, targeting shareholder returns of 70% of free cash flow in the long term.
About LyondellBasell Industries N.V.
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