LyondellBasell Industries N.V.
LyondellBasell Industries N.V. makes and sells large-volume chemicals and plastics used as feedstocks and finished materials across packaging, automotive, construction, and industrial applications. It also licenses polyolefin process technologies and sells catalysts, giving the company a mix of commodity chemical exposure and higher-value technology revenue.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueCommodity chemicals and plastics such as polyethylene and polypropylene used in packaging and industrial applications.
Intermediate chemicals, oxyfuels and related products sold into fuel and industrial value chains.
Specialty polymers and engineered materials used in automotive, industrial and consumer end markets.
Polyolefin catalysts, process technology licensing and related services.
Products
Reported · share of revenue- Polyethylene23.9 %
- Polypropylene19.4 %
- Oxyfuels and Related Products16.0 %
- Olefins and Co Products13.9 %
- Compoundingandsolutions11.5 %
- Other15.4 %
Source: 10-K FY2025, revenue the company reports per product line (SEC XBRL). Shares are of the lines shown and add up to 100 %.
Customers
The company sells to industrial customers that convert chemicals into plastics, fuels, and finished materials, with demand tied to packaging, automotive, housing, and broader manufacturing activity. It also serves licensees and customers that need process technology, catalysts, and specialty materials for higher-performance applications. Because many products are commodity-like, customers buy on price, supply reliability, and product performance.
Buy polyethylene and polypropylene resins for films, containers and packaging applications where supply reliability and price matter.
Buy advanced polymer solutions and specialty materials for lightweighting and performance parts.
Buy commodity chemicals and intermediates used in manufacturing, housing and infrastructure-related products.
Buy oxyfuels and related products whose demand and margins depend on crude, gasoline crack spreads and blending economics.
Buy catalysts, process technology and services to operate polyolefin production assets more efficiently.
Strategy
Management is prioritizing cash generation, shareholder returns and balance-sheet discipline while navigating a weak macro backdrop. The company has launched a Cash Improvement Plan to cut costs, reduce working capital and defer capital spending, while continuing to fund maintenance and selected growth projects. It is also reshaping the portfolio through refinery exits, shutdowns and asset actions, including the planned closure of the European PO joint venture and the sale of select European olefins and polyolefins assets.
Offsets macro volatility by lowering fixed costs, working capital and capital spending.
Supports capital allocation credibility while balancing cyclical earnings and liquidity needs.
Improves capital efficiency and reduces exposure to weaker or non-core assets.
Geography
Q1/2026LyondellBasell operates internationally, with a significant portion of revenue coming from Europe and meaningful exposure to emerging markets in Asia and South America. The company also highlights North America as an important cost and demand region, while noting that most European transactions and assets are euro-denominated, which creates currency exposure. Its footprint makes results sensitive to regional demand cycles, trade flows, and feedstock cost advantages in places like North America and the Middle East.
Share of the revenue the company reports by geography.
Risks
The business is highly exposed to chemical industry cyclicality, oversupply and commodity price competition, so margins can move sharply with demand and feedstock costs. It also faces operational, safety, environmental and cybersecurity risks because its plants, logistics network and technology licensing model can be disrupted by incidents or attacks. Geographic exposure to Europe, China and other emerging markets adds FX, trade and macroeconomic risk, while impairment charges show how quickly asset values can reset in a downturn.
- Commodity price and margin pressureImpact: HighLikelihood: High
Many products compete primarily on price, so oversupply or cost inflation can compress margins quickly.
Exposure - Cyclical end-market demandImpact: HighLikelihood: Medium
Automotive, housing and industrial demand weaken in recessions, reducing volumes and pricing power.
Exposure: Advanced polymer solutions and commodity chemicals
- Geographic macro exposureImpact: HighLikelihood: Medium
A significant portion of revenue comes from Europe and emerging markets, which are sensitive to FX, tariffs and downturns.
Exposure - Operational safety and environmental incidentsImpact: HighLikelihood: Medium
Chemical manufacturing carries fire, explosion, release and remediation risk that can halt production and create liabilities.
Exposure - Cybersecurity and infrastructure attacksImpact: MediumLikelihood: Low
A breach could disrupt operations, compromise data or affect third-party vendors and service providers.
Exposure: Enterprise systems and industrial infrastructure
Accounting
Judgemental items2025 impairment charges reflected weaker outlooks in automotive and chemical businesses and can materially reduce earnings.
Impact: Full write-downs of goodwill and some property, plant and equipment
Inventory is valued using LIFO, so reported cost of sales and margins are affected by raw material inflation or deflation.
Impact: Gross margin comparability and working capital
Houston refinery operations were ceased and Berre refinery closure costs are reported separately, changing trend analysis.
Impact: Revenue, EBITDA and operating income comparability
Portfolio rationalization and plant closures create one-time costs that can be significant in a given period.
Impact: Operating profit and cash flow
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Last updated: 24/09/2026