Recently, domestic and foreign chemical companies announced their financial reports for the first quarter of this year. The performance of large chemical companies is still dominated by growth, and only a few companies have seen a decline in net profit.

Asia

In the first quarter of 2022, Rongsheng Petrochemical achieved a total operating income of 68.601 billion yuan, a year-on-year increase of 98.38%; net profit attributable to the parent was 3.116 billion yuan, a year-on-year increase of 18.85%.

Hengli Petrochemical achieved a total operating income of 53.397 billion yuan in the first quarter of 2022, a year-on-year increase of 0.31%. The net profit attributable to the parent company was 4.223 billion yuan, a year-on-year increase of 2.71%.

Wanhua Chemical achieved operating income of 41.784 billion yuan in the first quarter of 2022, a year-on-year increase of 33.44%. Net profit was 5.374 billion yuan, a year-on-year decrease of 18.84%.

Hengyi Petrochemical's revenue in the first quarter of 2022 was 33.253 billion yuan, a year-on-year increase of 7.63%; net profit was 732 million yuan, a year-on-year decrease of 39.36%.

The operating income of Sinochem International in the first quarter of 2022 was 18.844 billion yuan, a year-on-year increase of 8.17%; the net profit attributable to shareholders of the listed company was 394 million yuan, a year-on-year increase of 30.33%.

In the first quarter of 2022, Zhongtai Chemical achieved a total operating income of 15.005 billion yuan, a year-on-year decrease of 32.51%; net profit attributable to the parent was 442 million yuan, a year-on-year decrease of 39.73%.

In the first quarter of 2022, Oriental Shenghong achieved operating income of 13.773 billion yuan, a year-on-year increase of 23.58%; net profit attributable to the parent was 688 million yuan, a year-on-year decrease of 53.72%.

In the first quarter of 2022, Yuntianhua achieved operating income of about 14.962 billion yuan, a year-on-year increase of 13.28%. The net profit attributable to shareholders of the listed company was about 1.646 billion yuan.

In the first quarter of 2022, Tongkun's main revenue was 12.994 billion yuan, a year-on-year increase of 16.72%; the net profit attributable to the parent was 1.503 billion yuan, a year-on-year decrease of 12.45%.

Saudi Basic Industries Corporation (SABIC) revenue in the first quarter of 2022 was 52.64 billion Saudi riyals (about 14.04 billion U.S. dollars), an increase of 40% over the same period of the previous year; the net profit for the quarter was 6.47 billion riyals, compared with the same period last year. 4.86 billion riyals.

LG Chem's sales in the first quarter of 2022 were 11.6081 trillion won (about 9.29 billion US dollars), an increase of 20.4% from the same period last year and a 6.0% increase from the previous quarter. Operating profit was KRW 1.0243 trillion, a decrease of 27.3% from the same period last year and an increase of 36.9% from the previous quarter.

Lotte Chemical’s sales in the first quarter of 2022 were 5,586 billion won (about 4.47 billion U.S. dollars), compared with 4,168 billion won in the same period last year. Quarterly operating profit was KRW 83 billion, compared with KRW 624 billion in the same period last year. Quarterly net profit was 117 billion won, compared with 538 billion won in the same period last year.

Nippon Paint Holdings (Nippon Holdings) first quarter results in 2022. Quarterly revenue was 284.096 billion yen (about 2.22 billion U.S. dollars), compared with 222.678 billion yen in the same period last year, a year-on-year increase of 27.6%. Net profit attributable to owners of the parent company was 18.072 billion yen, compared with 16.342 billion yen in the same period last year.

Mitsubishi Chemical Holdings announced its fiscal year results (April 2021-March 2022). The sales revenue for the fiscal year was 3,976.948 billion yen (about 31 billion US dollars), compared with 3,257.535 billion yen in the previous fiscal year, a year-on-year increase of 22.1%. Net profit attributable to owners of the parent company was 117.162 billion yen, compared with a net loss of 7.557 billion yen in the previous year.

Sumitomo Chemical announced its fiscal year results (April 2021-March 2022). The sales revenue for the fiscal year was 2,765.321 billion yen (about 21.6 billion US dollars), compared with 2,286.978 billion yen in the previous fiscal year. Net profit attributable to owners of the parent company was 162.13 billion yen, compared with 68.074 billion yen in the previous year.

Asahi Kasei announced its fiscal year results (April 2021-March 2022). Net sales for the fiscal year were 2,461.317 billion yen (about 19.2 billion U.S. dollars), compared with 2,106.051 billion yen in the previous fiscal year. Net profit attributable to owners of the parent company was 161.88 billion yen, compared with 79.768 billion yen in the previous year.

Toray announced its fiscal year results (April 2021-March 2022). Net sales for the fiscal year were 2,228.523 billion yen (about 17.4 billion U.S. dollars), compared with 1,883.6 billion yen in the previous fiscal year. Net profit attributable to owners of the parent company was 84.235 billion yen, compared with 45.794 billion yen in the previous year.

Shin-Etsu Chemical announces fiscal year results (April 2021-March 2022). Net sales for the fiscal year were 2,074.428 billion yen (about 16.2 billion U.S. dollars), compared with 1,496.906 billion yen in the previous fiscal year. Net profit attributable to owners of the parent company was 500.117 billion yen, compared with 293.732 billion yen in the previous year.

Europe

BASF Group (BASF) sales in the first quarter of 2022 reached 23.083 billion euros (about 24.9 billion U.S. dollars), a year-on-year increase of 19%. EBIT before special items amounted to EUR 2,818 million, compared to EUR 2,321 million in the first quarter of 2021. Net income amounted to 1.221 billion euros, down 28.9% year-on-year.

LyondellBasell's sales revenue in the first quarter of 2022 was US$13.157 billion, compared with US$9.082 billion in the same period last year. Quarterly net profit was $1.32 billion, compared with $1.07 billion a year earlier.

Linde's sales revenue in the first quarter of 2022 was US$8.211 billion, compared with US$7.243 billion in the same period last year. Quarterly net profit was $1.174 billion, compared with $980 million a year earlier.

Air Liquide's revenue in the first quarter of 2022 was 6.887 billion euros (about 7.42 billion U.S. dollars), compared with 5.334 billion euros in the same period last year, a year-on-year increase of 29.1%.

Covestro’s sales in the first quarter of 2022 reached 4.683 billion euros (about 5.044 billion U.S. dollars), a year-on-year increase of 41.6%. EBITDA profit reached 806 million euros, an increase of 8.5% year-on-year. Net profit reached 416 million euros, a year-on-year increase of 5.9%.

Evonik's sales in the first quarter of 2022 were 4.5 billion euros (about 4.85 billion U.S. dollars), a year-on-year increase of 34%. Quarterly adjusted EBITDA profit of 735 million euros. Quarterly adjusted net income was 356 million euros, an increase of 49% year-on-year.

Solvay's net sales in the first quarter of 2022 were 3.055 billion euros (about 3.29 billion U.S. dollars), a year-on-year increase of 28.8%. EBITDA profit was 712 million euros, a year-on-year increase of 22.1%. Net profit attributable to shareholders was 369 million euros, a year-on-year increase of 53.7%.

Arkema Group's sales in the first quarter of 2022 were 2.887 billion euros (about 3.11 billion U.S. dollars), a year-on-year increase of 29.7%. EBITDA profit was 619 million euros, a year-on-year increase of 72.9%. Adjusted net profit was 376 million euros, a year-on-year increase of 136.5%.

Henkel's sales in the first quarter of 2022 were 5.271 billion euros, an organic increase of 7.1% year-on-year. Among them, the sales of the Adhesive Technologies business unit were 2.631 billion euros (about 2.834 billion US dollars), an organic increase of 10.7%.

In the first quarter of 2022, DSM achieved sales of 2.590 billion euros, an increase of 18% year-on-year; adjusted EBITDA was 487 million euros, an increase of 10% year-on-year.

In the first quarter of 2022, LANXESS’s sales reached 2.432 billion euros (about 2.62 billion U.S. dollars), which was 43.7% higher than the 1.693 billion euros in the same period of the previous year. EBITDA climbed to 320 million euros, up 32.2 percent from 242 million euros a year earlier. Net income reached EUR 98 million.

Johnson Matthey announces results for the financial year ended March 31, 2022. Revenue for the fiscal year was £16.025 billion, an increase of 4% from £15.435 billion in the previous fiscal year. Operating profit was £255m, down 17% from £309m a year earlier.

AkzoNobel's net profit fell to 154 million euros in the first quarter of 2022 from 217 million euros a year earlier. Revenue rose to 2.53 billion euros ($2.72 billion) from 2.26 billion euros a year earlier.

The Bayer Group posted sales of EUR 14.639 billion in the first quarter of 2022, compared with EUR 12.328 billion in the same period last year. Net profit was 3.291 billion euros, compared with 2.089 billion euros in the same period last year.

Syngenta Group's operating income in the first quarter of 2022 was US$8.9 billion, compared with US$7.1 billion in the same period last year, a year-on-year increase of 26%. Quarterly EBITDA was $1.9 billion, compared to $1.5 billion in the prior-year period, an increase of 25% year-over-year. Among them, Syngenta Group’s revenue in China was US$2.4 billion, a year-on-year increase of 25%.

Yara's revenue in the first quarter of 2022 was US$5.912 billion, compared with US$3.142 billion in the same period last year. Quarterly net income was $947 million, compared with $14 million a year earlier.

WACKER's sales in the first quarter of 2022 amounted to 2.08 billion euros, an increase of 53 percent over the previous year. EBITDA increased to EUR 644 million, more than double the previous year. Net profit was 403 million euros.

North America

Dow's net sales for the first quarter of 2022 were $15.264 billion, compared to $11.882 billion in the same period last year. Net profit was US$1.569 billion, compared with US$991 million in the same period last year.

Westlake Chemical's net sales in the first quarter of 2022 were US$4.056 billion, compared with US$2.357 billion in the same period last year. Net income attributable to the company was $756 million, compared with $242 million a year earlier.

DuPont's net sales in the first quarter of 2022 were $3.274 billion, compared to $3.017 billion in the same period last year. Net profit was US$488 million, compared with US$5.394 billion in the same period last year.

Ecolab had net sales of $3.267 billion in the first quarter of 2022, compared to $2.885 billion in the same period last year. Net income attributable to the company was $172 million, compared with $194 million a year earlier.

International Flavors & Fragrances reported net sales of $3.226 billion in the first quarter of 2022, compared to $2.465 billion in the same period last year. Net profit attributable to shareholders of the company was $244 million, compared with a net loss of $42 million a year earlier.

Air Products had sales of $2.945 billion in the fiscal second quarter ended March 31, 2022, compared with $2.502 billion a year earlier. Net income attributable to the company was $531 million, compared with $473 million a year earlier.

Eastman Chemical’s sales in the first quarter of 2022 were $2.714 billion, compared to $2.409 billion in the same period last year. Net income attributable to the company was $235 million, compared with $274 million a year earlier.

Celanese had net sales of $2.538 billion in the first quarter of 2022, compared to $1.798 billion in the same period a year earlier. Net profit was US$504 million, compared with US$323 million in the same period last year.

Huntsman's revenue for the first quarter of 2022 was $2.389 billion, compared with $1.837 billion in the same period last year. Net income attributable to the company was $240 million, compared with $100 million a year earlier.

Canadian fertilizer giant Nutrien's sales in the first quarter of 2022 were US$7.657 billion, compared with US$4.658 billion in the same period last year, a year-on-year increase of 64%. Net profit was a record $1.385 billion, compared to $133 million in the same period last year, an increase of 941% year-on-year

Corteva's net sales in the first quarter of 2022 were $4.601 billion, compared to $4.178 billion in the same period last year. Net profit was $564 million, compared with $600 million in the same period last year.

Legg Mason's net sales for the first quarter of 2022 were $3.922 billion, compared to $2.297 billion in the same period last year. Net profit was US$1.182 billion, compared with US$157 million in the same period last year.

Sherwin-Williams posted net sales of $4.999 billion in the first quarter of 2022, compared with $4.656 billion a year earlier. Net profit was $371 million, compared with $410 million in the same period last year.

PPG Industries reported net sales of $4.308 billion in the first quarter of 2022, compared to $3.881 billion in the same period last year. Net income was $18 million, compared with $378 million in the same period last year.

Axalta Coating Systems reported net sales of $1.174 billion in the first quarter of 2022, compared to $1.064 billion in the same period a year earlier. Quarterly net income was $41.5 million, compared with $15.2 million a year earlier.