The chemical activities of loss of loss of Sir Jim Ratcliffe could take more time than expected to recover his financial health due to the commercial prices of Donald Trump, analysts said.
The billionaire industrialist faced Manchester United And All Blacks Rugby.
In a new source of concern, one of the key companies in Ratcliffe Sprawling commercialIneos Quattro, said its financial losses have more than doubled at 819 million euros (702 million pounds Sterling) at the end of last year, against 291 million euros in 2023, its first loss in at least five years.
The company of chemicals, which provides a range of industries, including car manufacturers and pharmaceutical companies, said in its annual report that its “substantial debt” took place almost half a billion euros in 2024 to reach almost 7.7 billion euros.
The latest disturbing results were published a few days after a leading credit rating agency, Moody’s, has demoted its prospects for the company in terms of concerns that “trade barriers” could maintain the company under the next two years.
The rating agency, which provides financial health checks for most large companies, issued the warning days after the American president has defined his Global Trade Prices – some of which have since he was paused – that economists fear that the major economies of the recession.
Lower economic growth generally decreases the demand for petrochemicals used in heavy industry, which has a training effect on raw demand. Oil prices have dropped low of four years under $ 60 per barrel after the announcement of Trump’s price, and the International Energy Agency A has reduced its forecasts for global oil demand growth of a third for the coming year.
Moody’s said that his negative perspectives for the Ineos The subsidiary reflected the risk of not recovering over the next two years, “with difficult market conditions and uncertainty linked to commercial obstacles”.
The spiral losses at Ineos Quattro in recent years contrast with the benefit of 2.3 billion euros that it has made in 2022 the manufacture of petrochemicals on its 45 sites through the Americas, Europe and Asia.
Ratcliffe has blamed high energy costs, “the deindustrialisation of Europe” and “extreme carbon taxes” for the change of fortune for the Ineos Empire, which is made up of around 30 distinct companies which operate together more than 170 sites in 32 countries.
Ineos Group, the main business unit of the Empire, revealed earlier this month that it would not pay any dividend to its owners – Ratcliffe, Andy Currie and John Reece – so that money can be reinvested in the company, in an example of “prudent financial management”.
After promoting the newsletter
Ratcliffe Wealth has fallen At 23.5 billion pounds sterling in 2024, compared to 29.7 billion pounds sterling in 2023, according to the Sunday Times.
The company also reported a swing of a profit before tax of 407.8 million euros in 2023 to a loss of 71.1 million euros last year largely due to the increase in the cost of its debt of 10.6 billion euros. Its debts should reach almost 12 billion euros this year, The Guardian reported in February.
A company spokesperson said: “Despite the difficult world backdrop in 2024, Ineos Quattro maintained its position as one of the most competitive producers in the European chemicals sector.
“We are a low -cost operator and high yield with advanced positions and 2.14 billion euros in cash. With strong liquidity and well -invested factories, we are well placed to resolve the challenges of the current market. And we see opportunities to benefit from the rationalization of the industry to come. We are confident in our ability to offer long -term value. ”