LyondellBasell reports record FY2021 EBITDA of $9.3B ex-items; $624M refinery impairment

LyondellBasell Industries N.V.

2021-FY EPS reported $16.75 revenue$46,173,000,000

FY2021 net income $5.6B ($16.75/share); adjusted net $6.1B ($18.19/share); record cash from ops $7.6B.
Q4 net income $726M ($2.18/share); includes $624M non-cash impairment on Houston refinery (pre-tax).
Reduced long-term debt by $4B in 2021; returned ~$2B to shareholders via dividends ($4.44/share) and buybacks.
FY2021 EBITDA $8.7B; record $9.3B excluding LCM/impairment; O&P Americas and Technology segments posted record annual EBITDA.
Outlook: expects continued demand strength; new CEO Peter Vanacker to join in H2 2022; no further debt reduction planned.

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