...December 11, 2024 Synthos' financial performance deteriorated slightly in the first nine months of 2024, as synthetic rubber sales only partly compensated for a drop in insulation materials. Sales over this period fell year on year to Polish zloty (PLN) 6,785 million (about 1,589 million), despite overall stable volumes. The economic environment remains challenging due to the weakening automotive industry and depressed European construction market. Sales of rubber grew by 5% in the first nine months of 2024, supported by a resilient replacement tire market. EBITDA for the Synthetic Rubbers division improved significantly to PLN314 million, thanks to an increase in the Butadiene price in Asia above that in Europe, enabling profitable exports, as well as a ban on the import of rubber to Europe from Russia. Sales in the Insulation Materials division fell by about 8%, as a result of low sales volumes to the construction sector as well as oversupply and low prices of styrene. We expect the division...
