Overview Key strengths Key risks World's leading chemicals producer by scale and portfolio breadth, with global footprint and vertically integrated production benefiting from the "Verbund" concept. Volatile profitability and cash flow due to high exposure to the cyclical commodity chemicals industry and significant exposure to cyclical end markets, which are facing weakening demand due to dampening global economy. A gradual shift to higher-margin, higher-growth end markets thanks to portfolio realignment initiatives, including acquisitions and divestitures.Diversification benefits of producing commodity and specialty chemicals, complemented by a significant share of agrochemicals. Still vulnerable financial flexibility due to high investments in growth projects and acquisitions, and large shareholder payouts, partly compensated by disposal proceeds.Competitive disadvantage for European production due to continuous high energy
