In the third quarter of 2020, Bluestar public companies strive to expand the market, buy time, and seize opportunities, ushering in the warm dawn of enterprises by adhering to the business theme of innovation creating benefits. France Adisseo achieves double growth of revenue and profit, Shenyang Chemical turns losses into gains, saving the critical situation, and Norway Elkem achieves steady performance in adversity, laying a solid foundation for the annual goal.

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Adisseo's net profit submitted to the parent company in the first three quarters increased 35% year on year.

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Adisseo made every effort to ensure the management principle of "Safety First, Continuity of Business Follows", and continued to carry out the operation efficiency improvement plan. In the first three quarters, it achieved revenue of CNY 8.88 billion, of which the net profit attributable to shareholders was CNY 1.1 billion, with a year-on-year growth of 7% and 35% respectively, which was mainly attributed to the continued strong growth in sales of liquid methionine and special products, as well as the high price of vitamins. Its safety performance index TRIR was 0.32 in the third quarter of this year, and 0.51 for 12 consecutive months as of September 30. The Company increased investment and made breakthroughs in several key projects: the establishment of China R & D Center in Nanjing has made Adisseo's R & D strength and market layout in China and even in Asia step into a stage of in-depth development; the announcement of the acquisition of FRAmelco Group is an important step towards the growth strategy of special products business, and consolidates the global leader in animal nutrition special feed additives.

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"We are confident to continue to provide customers with high-quality products and services and achieve sustainable and profitable growth in the future,” said Jean-Marc Dublanc, CEO of Adisseo.

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Shenyang Chemical Creates a Historical Profit High Point

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Shenyang Chemical enlarges the capacity of profitable products to improve the benefits creation ability and promote the product structure adjustment of petrochemical business, promoting cost reduction and loss reduction through continuous improvement. In the third quarter, it realized CNY 2.58 billion of operating revenue and CNY 219 million of profit, with a year-on-year increase of 215.5%. Its operating revenue in the first three quarters was CNY 5.852 billion, with a profit of CNY 2.28978 billion, successfully turning losses into gains. The company seized the favorable opportunity of increasing market demand and price rise, focused on the market of paste resin for medical-grade gloves, explored the new infrastructure market potential of polyether products, increased the production and sales of new products with gross profit, and made full use of the steel and biochemical pharmaceutical markets in Liaoning region, realizing the full production and sales of caustic soda products, and further strengthened the development of high-end metallocene market. At the same time, it has completed the trial production and promotion of several new paste resin brands, and many new technologies such as PVC Paste Resin and its Preparation Method?have been authorized by the national patent. The company focuses on fine management to comprehensively promote cost reduction and benefit increase and give full play to the advantages of centralized procurement, reducing the purchase price to the maximum extent. During the reporting period, compared with the budget, the company's financial expenses, manufacturing costs, administrative expenses all increased their profits.

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Sun Zesheng, chairman of Shenyang Chemical Co., Ltd., said: "On the basis of ensuring the safety of the enterprise and the health of employees, Shenyang Chemical has expanded the market share of high-end products, further improved the production and sales volume, and greatly promoted the company's benefit."

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Elkem and its Performance Developing Steadily in Adversity

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Despite the impact of the epidemic on the global markets, Elkem still achieved stable operating performance in the third quarter, with a total operating revenue of NOK 5.886 billion, a year-on-year increase of 6%, and its EBITDA was NOK 512 million, demonstrating its leading position in the industry. In the third quarter, the sales of all its business divisions increased year on year, showing a bright performance. The company adheres to the concept of sustainable development and promotes energy-saving and emission reduction projects: the large-scale graphite plant project "Northern Charging" provides raw materials for lithium-ion battery manufacturing, the advanced green hydropower production technology reduces carbon dioxide emission by more than 90% and saves energy consumption by 50%; it invests in building bio carbon pilot plant in Canada to promote the development of metal smelting to "climate neutral". Its digital office promotes the transformation and upgrading of global business divisions and factories, and the results of the "Benefits Improvement" project deliverables have been revealed, with an annualized return of NOK 147 million by the end of September.

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"Elkem has consolidated its position as an industry leader with competitive cost strategy, diversified product portfolio, superior geographical location and sound financial condition," said Michael Koenig, CEO of Elkem.