Syensqo launches five-year growth strategy

Syensqo, the speciality chemicals firm that is planned to be split out from Solvay, has presented its mid-term financial targets and sustainability commitments at its inaugural capital markets day. The separation is subject to shareholder approval at an extraordinary general meeting approval in Brussels on 8 December. Meanwhile the Belgian Financial Services & Markets Authority has approved a prospectus relating to listing Syensq’s shares on Euronext Brussels and Euronext Paris.

Syensqo’s mid-term financial targets to 2028, include 5-7% net sales growth over the period 2024-2028 and a mid-20s percentage underlying EBITDA margin and a mid-teens return on capital employed. Achieving these targets is expected to deliver more than €7 billion in cash between 2024 and 2028. The company also launched its ‘One Planet’ sustainability commitments, which are expected to act as a driver of revenue growth.  These include:

* A 23% fall in Scope 3 greenhouse gas (GHG) emissions from 2021 to 2030

* Carbon neutrality on Scope 1 and 2 GHG emissions by 2040, with a 40% fall in emissions from 2021 to 2030

* Increasing circular economy sales to 18% of total sales by 2030

* Aiming for gender parity by 2033 for mid and senior management