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Investing.com -- Ineos Group Holdings S.A. on Monday reported a €56.5 million loss for the three months ended Sept. 30, 2025, compared with a profit of €282.7 million in the same period a year earlier, as revenue declined and finance costs increased.
Revenue fell 20% to €3.42 billion from €4.27 billion a year earlier. Operating profit dropped to €112.9 million from €338.7 million, while gross profit decreased to €286.4 million from €541.3 million.
The Swiss company reported finance income of €58.8 million and finance costs of €166.1 million, resulting in a net finance cost of €107.3 million.
The loss before tax was €37.2 million, compared with a profit before tax of €464.8 million a year earlier. After a tax charge of €19.3 million, the chemicals manufacturer recorded a net loss of €56.5 million for the quarter.
Segment results showed declines across all major businesses. EBITDA before exceptional items fell to €375 million from €602.9 million. Revenue for the O&P North America segment decreased to €901.7 million from €1.11 billion.
O&P Europe reported revenue of €1.70 billion, down from €2.07 billion, while Chemical Intermediates revenue dropped to €1.51 billion from €1.89 billion.
For the nine-month period ended Sept. 30, 2025, INEOS reported a loss of €182.1 million, compared with a profit of €347.8 million in the same period in 2024.
Revenue for the nine months declined to €11.38 billion from €12.40 billion. Operating profit for the period was €316.4 million, down from €1.06 billion a year earlier.
Gross profit for the nine months fell to €838.1 million from €1.54 billion. Total finance costs for the period were €505.7 million, compared with €680.7 million in 2024. Net finance costs amounted to €321 million, compared with €463.3 million a year earlier.
INEOS reported cash and cash equivalents of €2.64 billion as of Sept. 30, up from €2.48 billion at the start of the year. Net cash from operating activities totaled €1.07 billion for the nine-month period.
The company spent €1.53 billion on property, plant and equipment, compared with €1.17 billion in the same period last year. The main capital expenditures were related to Project ONE in Antwerp, Belgium.
The company’s total assets stood at €24.95 billion at Sept. 30, up from €24.77 billion at Dec. 31, 2024. Total equity decreased to €4.57 billion from €5.09 billion, reflecting the loss for the period and currency translation effects.
INEOS continued to adjust its financing structure during the year. In February 2025, the company issued new Senior Secured Term Loans due 2031 and Senior Secured Notes due 2030, totaling €1.63 billion, to redeem maturing notes, repay existing facilities, and support general corporate purposes, including partial funding for Project ONE.
Interest-bearing loans and borrowings increased to €13.72 billion at Sept. 30 from €12.82 billion at the end of 2024.
The company’s refinancing activity led to the recognition of €12 million in exceptional finance costs for the period.
The notes said the directors reviewed global market and geopolitical conditions and determined the group could operate within its existing facilities for at least 12 months from the reporting date.