Synthomer plc (GB:SYNT) has released an update.
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Synthomer plc reported stable trading in Q1 2024, with the highest continuing group volumes since Q2 2022, despite no sustained improvement in end-market demand. The company experienced a year-over-year increase in EBITDA thanks to robust pricing, cost reductions, and lower energy costs, although revenue was down due to decreased raw material prices. Synthomer is advancing its speciality solutions strategy, reducing debt through bond tenders, and focusing on core markets with the divestment of its Compounds business, aiming for earnings progress and positive cash flow in 2024.
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