ScienceCo revenue up 11.4% year-over-year… EBITDA margin down 2.3%p

Syensqo ($SHBBF) reported third-quarter 2026 revenue of €1.59 billion, up 11.4% year over year, with organic growth of 8.9% as volumes rose 7% and prices 2%. Adjusted EBITDA was roughly flat at €320 million, but the margin fell 2.3 percentage points to 20.1% from 22.4%. Materials segment sales grew 13% organically, led by composites at 27% and specialty polymers at 6%, with the company citing semiconductor and battery demand as growth drivers. The margin compression matters because it shows earnings failed to keep pace with double-digit top-line growth despite higher volumes and pricing. Next, watch whether specialty polymer demand from semiconductors and batteries can sustain the sales momentum and whether cost pressures continue to erode profitability.