KBC Securities - SYENSQO (SYENS) Syensqo FIRST LOOK: 3Q uEBITDA -10% organically, FY guidance slightly lowered

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KBC Securities

Wim Hoste

Syensqo FIRST LOOK: 3Q uEBITDA -10% organically, FY guidance slightly lowered

3Q underlying EBITDA declined by 10% organically to € 326m, which was 3% below our forecast but 7% above consensus. Syensqo lowered FY25 underlying EBITDA guidance from c. 1.3bn to c. € 1.25bn, which is slightly higher than the current consensus figure of € 1.22bn albeit below our € 1.31bn forecast. Despite the weak current earnings momentum, we believe that cost efficiency measures and portfolio streamlining should eventually be positive for the investment case. We continue to believe valuation is attractive and we reiterate our BUY rating and € 90 target price.

06/11/2025 1 EN

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SYENSQO

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BE0974464977 Belgium

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KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Wim Hoste

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Syensqo FIRST LOOK: 3Q uEBITDA -10% organically, FY guidance slightly lowered

We are a financial services provider for several types of professional clients, each with distinct needs.

Syensqo releases its 2025 Annual Integrated Report

Syensqo - Participation notifications by BlackRock Inc.

Syensqo notifies bondholders of the Redemption Price for its €500 million senior bonds

Materialise Transferring RapidFit business to its management team (MBO)

Miko Acquisition of “Roast & Ground” in UK office coffee supply segment

MaaT Pharma FY25 update confirms mid-2026 EMA decision timing for MaaT013

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