Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 880

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 5
Chunk 880
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 lines ($30.4 million), respectively. The increase was partially offset by a volume decline of $65.3 million (seven percent), driven by a decline in industrial specialties ($163.7 million), partially offset by growth in road technologies ($98.4 million). Unfavorable foreign currency exchange also impacted Net sales by $0.8 million (zero percent).

Segment EBITDA. Segment EBITDA decreased $94.7 million, mainly due to higher manufacturing costs of $157.8 million primarily due to increased CTO cost, a volume decline of $34.1 million, and unfavorable foreign currency exchange impacts of $0.1 million, These increases were partially offset by favorable pricing and sales mix of $89.7 million, and decreased SG&A expenses of $7.6 million.

Advanced Polymer Technologies

2024 Performance Summary

Advanced Polymer Technologies generated higher volumes year over year as the segment made progress in end markets such as elastomers, adhesives, and coatings; however, unfavorable overall product mix and selective price concessions contributed to a revenue decline of eight percent. The segment benefited from lower energy costs and an improvement in utilization rates as a result of higher volumes but these cost savings were more than offset by the revenue decline, resulting in segment EBITDA of $35.2 million and a segment EBITDA margin of 18.7 percent.

In millionsYears Ended December 31,202420232022Advanced Polymer Technologies - Net sales$188.6 $204.0 $244.7 Segment EBITDA$35.2 $44.5 $40.0 

Net Sales Comparison of Years Ended December 31, 2024, 2023, and 2022

Change vs. prior yearIn millions Prior year Net salesVolumePrice/MixCurrency effectCurrent year Net salesYear Ended December 31, 2024 vs 2023$204.0 7.1 (18.8)(3.7)$188.6 Year Ended December 31, 2023 vs 2022$244.7 (58.3)17.0 0.6 $204.0 

Year Ended December 31, 2024 vs. 2023

Segment net sales. The decrease of $15.4 million in 2024 was driven by unfavorable pricing and sales mix of $18.8 million (nine percent), and unfavorable foreign currency exchange of $3.7 million (two percent