The earnings beat comes from the Chemicals & Materials division, with an adjusted EBIT of €442m, up from €210m in Q4, due to the surge in polyolefin prices with a strong demand in the European markets and very tight supply. With this performance, gearing is down to 37% vs 41% in Q4 (excluding the announced divestments) and the group is on track to reach its 30% target by year end, which is the key priority.
29 Apr 2021
Q1: strong performance helps deleveraging
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Q1: strong performance helps deleveraging
The earnings beat comes from the Chemicals & Materials division, with an adjusted EBIT of €442m, up from €210m in Q4, due to the surge in polyolefin prices with a strong demand in the European markets and very tight supply. With this performance, gearing is down to 37% vs 41% in Q4 (excluding the announced divestments) and the group is on track to reach its 30% target by year end, which is the key priority.