European Chemical Industry Under Pressure, Versalis Reports Full-Year Loss of 819 Million Euros

Eni Group's chemicals division, Versalis, reported an adjusted operating loss of €204 million for the fourth quarter of 2025, compared to €231 million in the same period of 2024. The improved performance reflects the initial effects of the restructuring plan, though adverse market conditions partially offset this positive impact. Eni expects the benefits of the plan to become more pronounced in the coming quarters.

For the full year, against the backdrop of an extremely challenging environment for the European chemical industry, Versalis reported a full-year adjusted operating loss of €819 million, essentially flat compared to €814 million in 2024.

Product sales volume decreased from 3.17 million tons in 2024 to 2.72 million tons, a year-on-year decline of 14%; the average utilization rate of facilities slightly dropped from 50% to 49%.

The profitability of various business segments remains weak. In a global context of oversupply, "due to the challenging European market environment, weak economic activity, and competitive pressure from American and Asian producers with more favorable cost structures," product prices are still not sufficient to cover energy and raw material costs.