CHAPTER 2 A future-proof company

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MILESTONES 2021

The Chemicals business again performed outstandingly, EBITDA having risen 33% in 2020, driven mainly by the positive impact of an enhanced commercial strategy, combined with a sustained trend of record operating performance since 2019.

At Cepsa, we believe that the energy transition process requires responsiveness, swift management decisions and speedy implementation. This has been achieved by adapting our organisational model to give greater autonomy to the businesses. As from January 2022, the Chemicals business will operate independently, providing greater flexibility and speed in decision-making to leverage opportunities in a rapidly changing market.

We are launching a new generation of environmentally friendly products on our way to becoming the industry benchmark for sustainability. The new LABs and sustainable phenols will be produced at the Puente Mayorga and Palos de la Frontera chemical plants, respectively.

At Cepsa we are world leaders in the manufacture of LAB (linear alkylbenzene) and we rank second in the production of phenylacetone, thanks to our technology leadership in both lines. Our LAB is an essential ingredient in the manufacture of biodegradable detergents and our phenylacetone line supplies all major polymer manufacturers for the automotive, electronics and construction industries.

2.2.3 Chemicals