Nouryon today reported full-year 2024 results with revenue of $5.13 billion, a decrease of 1.1 percent year over year, and flat versus prior year excluding the negative impact of foreign currency translation. Volume growth of 6.5 percent, driven by positive contributions across all regions and business units, was offset by lower pricing. The lower pricing corresponded with a year-over-year benefit from variable input costs.

Adjusted EBITDA increased by 9.5 percent, or $100 million, year over year to $1.16 billion, and adjusted EBITDA margins increased 220 basis points. The increases were primarily driven by higher volumes, which more than offset the combined headwinds from net pricing and negative foreign currency translation.

Net cash from operating activities and free cash flow were $968 million and $728 million, respectively, versus $996 million and $604 million, respectively, in the prior-year period. The 21 percent increase in free cash flow reflects a stronger earnings result, coupled with a year-over-year decline in capital expenditures due to the completion of various organic growth projects now in operation.

“Nouryon’s 2024 full-year financial performance underscores the strength of our specialty portfolio, driving significant adjusted EBITDA growth and margin expansion," said Charlie Shaver, Nouryon Chairman and CEO. "Throughout the year, we achieved solid volume improvements across all business units and enhanced profitability through disciplined cost management. Having concluded 2024 with stable market conditions and positive momentum from our capex investments, we are well-positioned for continued growth in the coming year."