Latest Guidance

Given the strong result in Q3 2021 and the exceptional market situation still expected to continue at least until the end of the full year 2021, the full-year guidance has been revised upwards on 16 September 2021 to:

  • Underlying EBITDA in the range of USD 22.0-23.0bn (previously USD 18.0bn-19.5bn) compared to USD 8.3bn in 2020
  • Underlying EBIT in the range of USD 18.0bn-19.0bn (previously USD 14.0bn-15.5bn) compared to USD 4.2bn in 2020
  • Free cash flow (FCF) of minimum USD 14.5bn (previously minimum USD 11.5bn) compared to USD 4.6bn in 2020.

For 2021-2022, the expectation for the accumulated CAPEX remains to be around USD 7.0bn.

The current guidance is still subject to uncertainty due to a higher than normal volatility given the temporary nature of both the demand patterns and disruptions in the supply chains.