Nynas Q3 2025 Results Show Margin Growth Despite Flat Volumes
Nynas AB, the Swedish specialty chemicals and bitumen supplier, has reported a stable third quarter for 2025, with encouraging margin improvements even as volumes remained mixed. The company revealed that volumes in its Naphthenic Specialty Products (NSP) business rose by 5 % year on year, while unit margins improved by 12 % in U.S. dollars. Transformers Magazine
In the bitumen segment, volumes dipped slightly by 3 %, yet margins still improved by 7 %, reflecting resilience in the Scandinavian construction and infrastructure market.
Financially, Nynas delivered an Adjusted EBITDA of SEK 484 million, compared to SEK 515 million in Q3 2024, a modest dip but one largely driven by currency effects (a stronger Swedish krona). Net earnings turned to a profit of SEK 36 million, reversing a loss of SEK 84 million from the same period last year.
Beyond the numbers, sustainability and employee engagement remain focal areas for Nynas. The company earned an EcoVadis Platinum rating, placing it among the top 1 % globally, with the added step of joining the UN Global Compact. Employee survey scores reached 84 / 100.
Looking ahead, Nynas expects continued strength in its NSP segment and stable demand for bitumen, reinforcing its strategic emphasis on specialty products, sustainability, and operational excellence.
Editor’s View:
For the tyre world, where base oils and specialty feedstocks often underpin compound innovation, the latest Nynas results carry a subtle but meaningful message. The rise in NSP unit margins signals that premium speciality streams (used in tyres, rubber and high-performance composites) remain under pressure to deliver value even when volumes do not surge.
Meanwhile, the slight decline in bitumen volumes suggests that infrastructure slowdowns may ripple out to rubber and tyre supply chains more gradually than anticipated, but the margin uptick shows that higher-value delivery and efficiency still count. For tyre manufacturers, suppliers, and compound formulators, this is a reminder: sourcing decisions and feedstock strategy cannot be volume-centric alone; they must be value-centric.
