LyondellBasell Industries N.V. 10-Q filed Oct 31, 2025

Modified · OVERVIEW

Results from continuing operations for the secondthird quarter of 2025 increaseddecreased compared to the firstsecond quarter of 2025. In our Olefins and Polyolefins-Americas (“O&P-Americas”) segment, the completion of a turnaround at our Channelview complex resulted in higher operating rates that supported a sequential improvement in integrated polyethylene volumes and margins primarily as a result of non-cash impairment charges recognized in the third quarter of 2025 for our Olefins and Polyolefins-Europe, Asia, International (“O&P-EAI”) and Advanced Polymer Solutions (“APS”) segments. In our Olefins and Polyolefins-Europe, Asia, International Polyolefins-Americas (“O&P-EAIP-Americas”) segment, lower feedstock costs helped improve integrated polyethylene improved profitability was supported by increased olefins margins while polyolefin and higher sales volumes benefited from increased seasonal demand. These improvements were offset by the recognition of a non-cash impairment related to European assets classified as held for sale within our O&P-EAI segment. Infollowing the successful completion of turnarounds at our facility in Channelview, Texas. Polyethylene spreads decreased as monomer costs rose. Our sales volumes improved on higher domestic demand for polyethylene given our Intermediates and Derivatives (“I&D”) segmentNorth American market position, intermediate chemical margins improved duealong with higher export flows to lower benzene costs and price support from second quarter industry outages. Oxyfuels and related products margins fell as lower crude oil key global markets. Polypropylene demand remained weak. In our O&P-EAI segment, improved operations yielded higher monomer volumes while polymer prices limited the typical seasonal upliftwere pressured by increased competition from the summer driving season. Results for our imports. In our Intermediates and Derivatives (“I&D”) segment were further, oxyfuels results improved by the absence of shutdown costs related to our Propylene Oxide Styrene Monomer (POSM) production unit at the Maasvlakte site in the Netherlands (the “European PO Joint Venture”) recognized in the first quarter of 2025. During the second quartersequentially on increased octane blend premiums, lower butane raw material prices and modestly higher sales volumes partially offset by declining styrene margins as global supply normalized. In September, we started a two-month turnaround at our La Porte, global markets began to adapt to trade volatility, contributing to a more stable operating environment across several product chainsTexas acetyls unit that will position the asset for improved productivity and reliability.