(Reuters) – Belgian chemicals maker Syensqo said on Thursday it was exploring a potential dual listing in the U.S. after it forecast 2025 core earnings at least on last year’s level.
“As we expect a major part of our future growth and investments to be in this strategically important region, it makes sense for us to explore a U.S. listing, which has the potential added benefits of expanding and enhancing our investor base,” CEO Ilham Kadri said in a statement.
Syensqo sees underlying earnings before interest, taxes, depreciation and amortization (EBITDA) of at least 1.4 billion euros ($1.47 billion) in 2025, which would put it in line with last year’s number.
The speciality chemicals company, which spun off from Solvay last year, said it expected macroeconomic concerns and demand uncertainty to persist across most of its end markets this year, weighing on the outlook.
Analysts polled by Syensqo had forecast 2024 EBITDA of 1.4 billion euros, which they expected to rise to 1.47 billion in 2025.
($1 = 0.9555 euros)
(Reporting by Dimitri Rhodes in Gdansk; Editing by Milla Nissi)
