Skip to main content
Sister Publication Links
  • European Rubber Journal
  • Plastics News
  • Tire Business
Subscribe
  • Login
  • Register
  • Subscribe
  • News
    • Automotive
    • Tire
    • Non-Tire
    • Suppliers
    • ITEC
    • Silicone
    • Online Exclusive
    • Latex
    • Technical Notebooks
    • Executive Action
    • Government/Legal
    • Opinion
    • Rubber Division IEC
    • Blogs
    • Sustainability
    • Products
    • Wacky World of Rubber
  • War in Ukraine
  • Custom
    • Sponsored Content
    • White Papers
  • Resources
    • Directory
    • Classifieds & Mold Mart
  • Data
  • Events
    • RN Events
    • RN Livestreams/Webinars
    • Industry Events
    • Past Events
    • Rubber News M&A Live
    • 2022 Hose & Belt Manufacturers Conference
    • 2022 International Silicone Conference
    • 2022 International Tire Exhibition & Conference (ITEC)
    • 2022 Women Breaking the Mold
  • Advertise
  • DIGITAL EDITION
MENU
Breadcrumb
  1. Home
  2. Financial
January 15, 2021 11:39 AM

Synthomer optimistic, raises earnings forecast

European Rubber Journal Report
  • Tweet
  • Share
  • Share
  • Email
  • More
    Print

    LONDON—Synthomer P.L.C. has upgraded its earnings forecast on the back of "strong trading momentum across the business," the group said in a trading update for the year ended Dec. 31.

    Buoyed by stronger trading across its three main divisions, Synthomer now expects 2020 EBITDA of around $310 million, about 10 percent ahead of the guidance provided in an Oct. 14 trading statement.

    The recent Omnova acquisition, investment in new capacity, efficiency measures and continued strength in performance elastomers "will underpin strong EBITDA growth in 2021," the English group said on Jan. 14.

    During the final quarter of 2020, the Performance Elastomers unit continued to "perform strongly," with the nitrile latex business continuing to exceed expectations.

    Conditions in the SBR latex business also continued to strengthen, with all SBR segments except paper trading ahead of the comparative period in 2019, Synthomer added.

    The group's Functional Solutions business, meanwhile, delivered "sustained improvement" in the final quarter with consumer-facing and industrial end markets remaining strong—except for the oil and gas market.

    Industrial Specialties also had a strong finish to the year, with the laminates and films business, which serves the home improvement and recreational vehicles market, performing ahead of the prior-year period.

    While Synthomer will continue adapting its operations to the ongoing COVID-19 pandemic to ensure the safety of all employees, it did not expect any significant disruption to business.

    "In a very challenging year, Synthomer has delivered a strong performance," said Caroline Johnstone, chair of Synthomer. "This is a testament to the strategy that we have been consistently executing and the investments that we have made."

    Synthomer issued the trading update ahead of announcing full-year results on March 4.

    Related Article
    Synthomer to close SBR latex facility in Finland
    Synthomer consolidating European elastomers operations
    Year in Review: Eaton deal to sell hydraulics unit highlights M&A activity
    Letter
    to the
    Editor

    Rubber News wants to hear from its readers. If you want to express your opinion on a story or issue, email your letter to Editor Bruce Meyer at [email protected].

    Most Popular
    1
    Auto industry aims for Biden's EV sales goal
    2
    Auto suppliers are asking for contract relief
    3
    Semperit boosting hose capacity at Austrian site
    4
    Yokohama advances rubber compounding with artificial intelligence
    5
    EVs not far from achieving cost parity
    SIGN UP FOR NEWSLETTERS
    EMAIL ADDRESS

    Please enter a valid email address.

    Please enter your email address.

    Please verify captcha.

    Please select at least one newsletter to subscribe.

    Get our newsletters

    Staying current is easy with Rubber News delivered straight to your inbox, free of charge.

    Subscribe Today

    Subscribe to Rubber News to get the best coverage and leading insights in the industry.

    SUBSCRIBE
    Connect with Us
    • LinkedIn
    • Facebook
    • Twitter

    MISSION

    To serve companies in the global rubber product industry by delivering news, industry insights, opinions and technical information.

    Contact Us

    2291 Riverfront Pkwy, Suite 1000
    Cuyahoga Falls,
    OH 44221

    Customer Service:
    877-320-1726

    Resources
    • About Us
    • Digital Edition
    • Staff
    • Advertise
    • Order Reprints
    • Privacy Policy
    • Privacy Request
    • Terms of Service
    • Careers
    • Ad Choices Ad Choices
    • Sitemap
    Partner Sites
    • Tire Business
    • European Rubber Journal
    • Plastics News
    • Plastics News China
    • Urethanes Technology
    • Automotive News
    • Crain Brands
    Copyright © 1996-2022. Crain Communications, Inc. All Rights Reserved.
    • News
      • Automotive
      • Tire
      • Non-Tire
      • Suppliers
      • ITEC
      • Silicone
      • Online Exclusive
      • Latex
      • Technical Notebooks
      • Executive Action
      • Government/Legal
      • Opinion
      • Rubber Division IEC
      • Blogs
        • Products
        • Wacky World of Rubber
      • Sustainability
    • War in Ukraine
    • Custom
      • Sponsored Content
      • White Papers
    • Resources
      • Directory
      • Classifieds & Mold Mart
    • Data
    • Events
      • RN Events
        • 2022 Hose & Belt Manufacturers Conference
        • 2022 International Silicone Conference
        • 2022 International Tire Exhibition & Conference (ITEC)
        • 2022 Women Breaking the Mold
      • RN Livestreams/Webinars
      • Industry Events
      • Past Events
      • Rubber News M&A Live
    • Advertise
    • DIGITAL EDITION