Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 1307

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 1
Chunk 1307
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)0.5 (1.2)$608.2 Road Technologies product line369.8 (30.8)3.7 (0.4)342.3 Industrial Specialties product line532.3 (262.4)(3.2)(0.8)265.9 Year Ended December 31, 2023 vs 2022$875.1 (65.3)93.1 (0.8)$902.1 Road Technologies product line241.3 98.4 30.4 (0.3)369.8 Industrial Specialties product line633.8 (163.7)62.7 (0.5)532.3 

Year Ended December 31, 2024 vs. 2023

Segment net sales. The decrease of $293.9 million in 2024 was driven by a volume decrease of $293.2 million (33 percent), as a result of a decrease in industrial specialties ($262.4 million) and road technologies ($30.8 million), and unfavorable foreign currency exchange of $1.2 million (zero percent). The decrease was partially offset by favorable pricing 

36

and sales mix of $0.5 million (zero percent), comprised of road technologies ($3.7 million), offset by industrial specialties ($3.2 million).

Segment EBITDA. The decrease of $51.0 million in 2024 was driven by a volume decrease of $45.0 million, higher manufacturing costs of $21.4 million, primarily due to higher cost CTO, and unfavorable foreign currency exchange and other charges of $5.1 million. The decrease was partially offset by favorable pricing and sales mix of $0.5 million and lower SG&A expenses of $20.0 million, which benefited from the Performance Chemicals' repositioning and cost savings initiatives implemented in 2023.

Year Ended December 31, 2023 vs. 2022

Segment net sales. The sales increase was driven by favorable pricing and sales mix of $93.1 million (11 percent), comprised of industrial specialties ($62.7 million) and road technologies product 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