SYNT Synthomer Plc

TIDMSYNT

RNS Number : 5078F

Synthomer PLC

19 July 2021

19 July 2021

Synthomer plc

Trading update

Synthomer plc ('Synthomer' or 'the Company') today issues a trading update ahead of its H1 results on 5 August 2021.

Since its last update on 21 April 2021, Synthomer has continued to see strong trading momentum across the business with volumes and unit margins ahead of the prior year in all divisions. In addition, the Nitrile latex business has continued to perform well, driven by exceptional demand due to the Covid-19 pandemic. As a result, the Company expects H1 2021 EBITDA to be approximately GBP320 million and FY 2021 EBITDA now in excess of GBP500m, which compares to its previous guidance of being in excess of GBP450m.

Synthomer continues to expect that the Nitrile latex business will return to more normalised levels during 2022. The Company will provide an update on this and its 2021 outlook in conjunction with its H1 interim results announcement.

-ENDS-

Enquiries:

 
Synthomer                                +44 1279 436211 
Calum MacLean, Chief Executive Officer 
Steve Bennett, Chief Financial Officer 
Tim Hughes - President, Corporate 
 Development 
 
Teneo 
Charles Armitstead                       +44 7703 330 269 
Matt Denham                              +44 7825 735 596 
 

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July 19, 2021 02:00 ET (06:00 GMT)

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