Company: NGVT
Filing Date: 2025-02-19
Form Type: 10-K
Source: 0001653477-25-000015
Chunk: 818

Company: Ingevity Corp
Filing Date: 2025-02-19
Form: 10-K
Item: Item 4
Chunk 818
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 markets in our industrial specialties product line as we continue to focus on maximizing profitability. The remaining net sales decline was due primarily to lost sales as customers sought alternative suppliers in light of our repositioning actions and lower road technologies product line sales attributed to adverse weather in the key states within the U.S. The segment generated Segment EBITDA of $14.7 million for the year. The year over year decline in Segment EBITDA was driven by higher CTO costs and lower volumes, particularly in the road technologies product line, partially offset by cost savings realized due to the Performance Chemicals repositioning.

Years Ended December 31,In millions202420232022Total Performance Chemicals - Net sales$608.2 $902.1 $875.1 Road Technologies product line342.3 369.8 241.3 Industrial Specialties product line265.9 532.3 633.8 Segment EBITDA$14.7 $65.7 $160.4 

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$902.1 (293.2)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