LyondellBasell Industries N.V.


SKU: LYB Category:


This is our first report on LyondellBasell, a major manufacturer of manufacturer of heart valve systems and related repair products. The company had a highly disappointing result in the last quarter, failing to meet Wall Street expectations in terms of revenues as well as earnings. Oxyfuel’s margins decreased in the second quarter, but they were still higher than average for the period. Styrene margins are also anticipated to increase, and the styrene business to get closer to breakeven in the fourth quarter due to decreasing benzene and ethylene raw material costs. The management claims to have generated a 19% return on invested capital over the last 12 months despite facing substantial challenges. The company is focused on cost control, operational efficiency, and safety in order to survive in a market that is getting crowded with many larger med-tech players. The diversified regional and end market operations that makeup LyondellBasell’s global portfolio of businesses benefit from its portfolio’s balance and the management points towards a lower risk associated with market concentration. We initiate coverage on the stock of LyondellBasell Industries N.V. with a ‘Hold’ rating.

Our Report Structure:

⦁ Company Overview
⦁ Investment Thesis
⦁ Key Drivers
⦁ Historical Quarterly Statement Analysis – Income Statement & Cash Flows
⦁ Historical Quarterly Balance Sheet Analysis
⦁ Historical Annual Financial Statement Analysis
⦁ Analysis Of Key Financial Ratios
⦁ Financial Forecasts For 3 Years
⦁ Forecasting The Capital Structure & Net Debt
⦁ Discounted Cash Flow Valuation
⦁ Trading Multiples
⦁ Key Risks
⦁ Disclosures

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