Orion S.A.

Listed Company

OECCIK 0001609804NYSELarge AcceleratedMiscellaneous Chemical ProductsFY ends Dec 31

Period

FY 2025

Revenue

$1.81B

Net Income

$-70.10M

Total Assets

$1.91B

Equity

$384.60M

Shares Out

56.27M

Op. Cash Flow

$215.80M

Business

Orion S.A. is a global manufacturer specializing in the production of carbon black products. It produces engineered carbon black grades to modify physical, electrical and optical properties for industrial applications. The company organizes its operations into two reportable segments: Specialty Carbon Black (for polymers, coatings, printing, batteries and related uses) and Rubber Carbon Black (for tires and mechanical rubber goods). Orion sells through long- and short-term contracts and distributes its products via its network of production sites, regional offices and global customer support and R&D centers.

Summary from filing dated 2025-02-20

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net sales	1,807	1,878	1,894	2,031	1,547
Cost of sales	1,447	1,449	1,443	1,582	1,160
Gross profit	360	429	451	449	387
Selling, general and administrative expenses	231	238	222	227	210
Research and development costs	28	27	25	22	22
Loss (recovery) due to misappropriation of assets, net	−7	59	0	—	—
Goodwill impairment	81	0	0	—	—
Other expense (income), net	200,000	2	−700,000	3	9
Income from operations	28	103	205	197	229
Interest and other financial expense, net	62	49	51	40	—
Reclassification of actuarial gains from AOCI	0	0	−9	0	—
Income (loss) before earnings in affiliated companies and income taxes	−35	53	163	157	186
Income tax expense	36	10	60	52	52
Earnings in affiliated companies, net of tax	500,000	600,000	500,000	500,000	700,000
Net income (loss)	−70	44	104	106	135
Basic (in shares)	56	58	59	61	61
Diluted (in shares)	56	58	60	61	61
Basic (in dollars per share)	−1.24	0.76	1.75	1.74	2.22
Diluted (in dollars per share)	−1.24	0.76	1.73	1.73	2.21

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	61	44	38	61	66
Accounts receivable, net	214	212	241	368	289
Inventories, net	277	290	287	278	230
Income tax receivables	25	13	6	5	12
Prepaid expenses and other current assets	67	54	74	67	69
Total current assets	644	613	646	779	665
Property, plant and equipment, net	1,070	965	900	819	708
Right-of-use assets	126	118	111	98	85
Goodwill	0	72	76	73	78
Intangible assets, net	14	19	26	28	36
Investment in equity method affiliates	13	8	5	5	5
Deferred income tax assets	21	22	30	29	50
Other assets	21	42	40	59	4
Total non-current assets	1,264	1,244	1,187	1,110	966
Total assets	1,908	1,857	1,833	1,889	1,631
Accounts payable	197	156	184	184	195
Current portion of long term-debt and other financial liabilities	305	259	137	258	152
Accrued liabilities	50	40	42	45	51
Income taxes payable	20	5	34	31	17
Other current liabilities	54	57	44	34	34
Total current liabilities	626	517	440	553	449
Long-term debt, net	675	647	677	657	631
Employee benefit plan obligation	58	59	60	50	74
Deferred income tax liabilities	28	37	66	70	62
Other liabilities	136	124	111	100	95
Total non-current liabilities	897	866	915	877	863
Common stock	85	85	85	85	85
Treasury stock, at cost, 4,837,465 and 3,749,887	−91	−82	−70	−9	−6
Additional paid-in capital	80	85	86	76	71
Retained earnings	382	457	418	319	218
Accumulated other comprehensive loss	−72	−70	−40	−13	−49
Total stockholders' equity	385	475	479	459	320
Total liabilities and stockholders' equity	1,908	1,857	1,833	1,889	1,631

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation of property, plant and equipment and amortization of intangible assets and right of use assets	132	125	113	106	104
Impairment of property, plant and equipment and intangible assets	81	0	0	—	—
Amortization of debt issuance costs	2	2	3	2	4
Stock based compensation	14	15	15	8	5
Deferred tax (benefit) provision	−7	−20	6	7	20
Foreign currency transactions	−9	−2	5	−8	−12
Reclassification of actuarial gains from AOCI	0	0	−9	0	5
Other operating non-cash items, net	1	2	800,000	−300,000	−2
Trade receivables	17	14	131	−96	−68
Inventories	37	−20	−8	−60	−95
Trade payables	15	−15	2	9	65
Other provisions	8	1	−4	−4	7
Income tax liabilities	1	−18	−2	20	−6
Other assets and liabilities, net	−6	−4	−11	−9	−18
Net cash provided by operating activities	216	125	346	81	145
Acquisition of property, plant and equipment	−161	−207	−173	−233	−215
Net cash used in investing activities	−161	−207	−173	−233	−215
Proceeds from long-term debt borrowings	0	0	13	48	213
Repayments of long-term debt	−9	−4	−3	−3	−213
Payments for debt issue costs	−5	−200,000	−3	−2	0
Cash inflows related to current financial liabilities	153	263	284	223	188
Cash outflows related to current financial liabilities	−152	−138	−418	−108	−113
Dividends paid to stockholders	−5	−5	−5	−5	0
Repurchases of Common stock	−25	−27	−66	−4	0
Net cash provided by (used in) financing activities	−41	89	−197	149	73
Increase (decrease) in cash, cash equivalents and restricted cash	14	8	−24	−3	4
Effect of exchange rate changes on cash	3	−3	800,000	−3	−3
Cash paid for interest, net	−54	−49	−39	−34	−23
Cash paid for income taxes	−41	−47	−56	−24	−38
Lease liabilities	31	29	30	26	12

Filings

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