Polynt Reichhold Group - Leading Integrated Specialty Chemical Player 2020 Financial Information
←
→
Page content transcription
If your browser does not render page correctly, please read the page content below
Polynt Reichhold Group Leading Integrated Specialty Chemical Player 2020 Financial Information
Polynt: 60 years of success in the
chemicals industry
Corporate development timeline
with Reichhold
Combination
Combination with Reichhold
2017
PCCR and CCP
Acquisition of CCP Composites from Total 2014
Trading companies in France (2012) and Spain
(2013) started operations
2013
exchange and acquisition by
Investindustrial takes Polynt private
Listing on the Italian stock
Completion of a new plant in Poland, producing Composites 2011
Investindustrial
Acquisition of Chemial plants in Italy and UK from 3i
2008
Acquisition of Composites and
Polynt listing on the Milan Stock Exchange Coating Resins business of
2007 Momentive Specialty Chemicals
Inc. in USA by PCCR, a Polynt
Group company
2006
Lonza Group 2001–
Foundation and initial growth of the business through
Acquisition of Distillerie Italiane S.p.A. separates from 2005
Alusuisse and listed on
Acquisition of a Trimellitic
the Zurich Stock
1999 Anhydride production site in China
Exchange
Acquisition of Chemial It+UK
1990
Opening of FTALITAL complex,
acquisitions
mainly dedicated to the 1980
production of Phthalic Over the '80s the
Anhydride used for synthetic 1979 Opening of the 2001: acquisition of two Lonza
company continues
materials Maleic Anhydride companies based in Mielhen,
to grow through
plant in Ravenna Germany
1975 acquisitions
2003: merger with two Lonza
1974 Group companies based in Italy
Over the mid-70's, the company Opening of the Polish site
1965 (renamed Lonza S.p.A.) expanded its
Alusuisse S.A. production capacity through acquisitions
1955 and construction of new industrial sites
acquires FTALITAL
2
Integrated business model
Origin Raw materials Catalysts Intermediates Specialties Coatings Composites
Pseudo-
Cumene Trimellitic Special
Anhydride Purposes
Plasticizers
O-Xylene
Phthalic General
Oxidation Purpose
Catalysts Anhydride
Plasticizers
N-Butane
Maleic
Anhydride
Benzene
Naphtha
Virgin
Coating Resins
Alcohols and
Oxo-alcohols
Vinylester
Special Resin
Styrene Anhydrides
Unsaturated
Polyester
Glycols Resin
Fumaric Acid
Gelcoat
Dienes
Malic Acid Compounds
(BMC/SMC)1
resources
Soybean oil
Natural
Special
Esters Composites / Composites
Glycerine Specialties
Intermediates
Source: Group information
Notes:
1 BMC: Bulk Moulding Compounds; SMC: Sheet Moulding Compounds
Internal processes
3Product summary and end markets
Coating and Composites Specialties Intermediates
Unsaturated Polyester Resins (UPR) Special Anhydrides Maleic Anhydride (MA)
Products
Coating Resins Special Esters Phthalic Anhydride (PA)
Gelcoat Special and General Purpose Plasticizers Trimellitic Anhydride (TMA)
Thermoset Compounds (BMC/SMC) (SPP & GPP)
#1 Worldwide in Composites #1 Worldwide in Special Anhydrides #1 in Europe in Trimellitic Anhydride,
Position
#2 worldwide
#1 in worldwide in Special Esters and
Trimellitic based SPP • Co-leader in Europe in Maleic and Phthalic
Anhydride
Revenue 2020: €1,387 mm1 Revenue 2020: € 294 mm1 Revenue 2020: € 64 mm1
% of total
17%
revenue
4%
79%
Batch production Batch production Key raw materials for the other 2 families
Coating and composited are mainly Large number of formulations and Continuous production located in Europe
used in transportation, electrical, applications MA, PA markets have been rationalizing over
Product highlights
construction, aerospace, automotive Customisation, innovation, quality and the past few years
and marine industries service are distinctive features TMA is a niche market globally
Among leading manufacturers of Special Polynt is among the most efficient producers
Anhydrides and Special Esters (often sole in MA, PA and owns its own Catalyst
manufacturer in Europe) technology
Source: Group information
Notes:
1 Based on Polynt + Reichhold combined financials, internal consumption excluded
4Among leading global specialty players and
producers of Composites worldwide
Coating and Composites Specialties Intermediates
Special Anhydrides Maleic Anhydride
#1 Worldwide in Composites
#1 Worldwide
Unsaturated Polyester Resins (UPR) Raw material for the production of UPR,
Consisting of reinforced and unreinforced Used for a range of specialty materials and Alkyd Resins, Lube oil additives, Special
plastics matrices pigments Anhydride, powder coatings and Epoxy
Electrical industries hardeners
Automotive, construction and wind industries
Co-leader in Europe
Coating Resins Special Esters
Phthalic Anhydride
Consisting of solvent-based and water-
#1 in Europe and worldwide
based paints (Alkyd, liquid Polyester,
Description
solution Acrylic Resins, Latex/powder Fragrances & cosmetics industries, Raw material for the production of UPR,
polymer) Phthalates free SPPs coating Resins and GPPs
Paints & Coatings, Construction and Co-leader in Europe
Special Purpose Plasticizers (SPP)
Transportation industries
Trimellitic Anhydride
Gelcoat Transport, packaging, oil drilling, medical
Compounding of UPR products and industries as well as other specific applications Raw material for the production of SPPs,
additives wire enamels, powder coatings, PVC
General Purpose Plasticizers (GPP) additives and lubricant oils
Marine, leisure and construction industries
Used to provide polymers with high
Thermoset Compounds resistance to high/low temperature and
BMC/SMC chemical agents
Transportation, construction and electrical Transport, packaging, as well as other
industries specific applications
Among others Among others Among others
AOC Eastman Huntsman
Competitors
INEOS BASF BASF
IDI Composites International Dixie Chemical ESIM Chemicals
Interplastic ESIM Chemicals Stepan
Menzolit Evonik Lanxess
Lanxess INEOS
Source: Group information
5Revenues breakdown by end market
6Sales by geography
7Truly global participant, with presence
in the Americas, Europe and Asia
8Financial highlights
Actual Actual Actual
2018 2019 2020
Volumes sold
to third parties 1,077 1,050 984
(Ktons)
Revenues
2,097 2,043 1,746
(€m)
EBITDA
215 241 261
(€m)
EBITDA % 10,2% 11,8% 15,0%
9Net Financial Position
(€m)
Dec 31, 2020
Cash and cash equivalents 289
Short term debts vs banks ( 53)
Long term financial
( 553)
indebtedness
Net Debt (IFRS) ( 317)
Leverage Ratio
1,3
(Net Debt/EBITDA)
10You can also read
