LyondellBasell said sales and other operating revenues for 2023 fell $9,344 million (19%) from 2022, and operating income fell $2,048 million (40%). The company said lower average sales prices reduced revenue by 21%.

1. 01

   LyondellBasell said sales and other operating revenues for 2023 fell $9,344 million (19%) from 2022, and operating income fell $2,048 million (40%). The company said lower average sales prices reduced revenue by 21%.

2. 02

   The company said it recognized non-cash impairment charges of $518 million in 2023, consisting primarily of a goodwill impairment charge of $252 million in its APS segment and an impairment charge of $192 million related to its European PO joint venture in its I&D segment.

3. 03

   LyondellBasell said it generated cash from operating activities of $4,942 million in 2023, and that it spent $1,531 million on capital expenditures, $1,610 million on dividends and $211 million on share repurchases.

4. 04

   The company said it plans capital expenditures of about $2.1 billion in 2024, and that about 60% of the budget is for maintenance and the remainder is for profit-generating growth projects.

Key figures

Fiscal year ended December 31, 2023

Revenue

$41.1B

Operating income

$3.1B

Net income

$2.1B

EPS

$6.46

Operating cash flow

$4.9B

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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