LyondellBasell Industries N.V. (NYSE:LYB)

LyondellBasell Industries N.V., asset turnover by geographic area

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
United States	1.80	1.90	1.70	2.27	3.54
Germany	1.93	1.94	1.94	2.03	2.80
Mexico	9.09	7.60	5.86	6.22	8.45
Italy	4.61	4.11	3.89	4.08	4.04
France	2.58	2.37	1.99	2.48	3.18
The Netherlands	1.39	1.37	1.11	1.28	1.70
Other	6.35	6.24	5.82	6.06	7.48

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

The asset turnover ratios across various geographic segments demonstrate a general trend of contraction between 2014 and 2016, followed by a period of stabilization or recovery from 2017 through 2018. A systemic dip in efficiency is evident in nearly all regions during the 2016 fiscal year, suggesting a widespread impact on asset utilization during that period.

High-Efficiency Regions: Mexico and the "Other" category consistently maintain the highest asset turnover ratios throughout the period. Mexico experienced significant volatility, with the ratio dropping from 8.45 in 2014 to a low of 5.86 in 2016, before rebounding strongly to reach 9.09 by 2018. The "Other" region followed a similar trajectory, decreasing to 5.82 in 2016 and recovering to 6.35 by the end of the observed period.
Stable and Moderate Efficiency Regions: Italy exhibits the most consistent performance, with ratios remaining stable and ending the period at a peak of 4.61. Germany showed a decline from 2.80 in 2014 to 1.94 in 2016, after which the ratio remained virtually stagnant at approximately 1.93 to 1.94 through 2018. France also showed a recovery pattern, dipping to 1.99 in 2016 before climbing back to 2.58 by 2018.
Low-Efficiency and Declining Regions: The United States experienced a substantial reduction in asset turnover, falling from 3.54 in 2014 to 1.80 in 2018, failing to recover to pre-2015 levels. The Netherlands consistently reported the lowest efficiency ratios of all analyzed regions, reaching a minimum of 1.11 in 2016 and concluding the period at 1.39.

In summary, a clear divergence in asset utilization is observable. While Mexico and the "Other" category demonstrate high and recovering efficiency, the United States and Germany have seen a permanent downward shift in their turnover ratios compared to 2014 levels. The Netherlands remains the least efficient region in terms of asset turnover throughout the entire five-year span.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Area Asset Turnover: United States

LyondellBasell Industries N.V.; United States; area asset turnover calculation

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Selected Financial Data (US$ in millions)
Sales and other operating revenues	18,671)	16,618)	13,962)	16,101)	23,574)
Long-lived assets	10,346)	8,761)	8,230)	7,087)	6,657)
Area Activity Ratio
Area asset turnover¹	1.80	1.90	1.70	2.27	3.54

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

¹ 2018 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 18,671 ÷ 10,346 = 1.80

The financial performance in the United States between 2014 and 2018 is characterized by significant volatility in revenue generation coupled with a consistent expansion of the long-lived asset base. This divergence resulted in a marked decline in asset utilization efficiency over the period.

Revenue Trends: Sales and other operating revenues experienced a sharp decline in the first half of the analyzed period, falling from 23,574 million US$ in 2014 to a low of 13,962 million US$ in 2016. A recovery trend followed, with revenues increasing to 16,618 million US$ in 2017 and reaching 18,671 million US$ by December 31, 2018. Despite this recovery, revenue levels remained approximately 21% below the 2014 peak.
Long-Lived Asset Growth: In contrast to revenue volatility, long-lived assets exhibited uninterrupted growth throughout the five-year period. Assets increased from 6,657 million US$ in 2014 to 10,346 million US$ in 2018, representing a total increase of approximately 55%. This indicates a sustained investment in the U.S. infrastructure regardless of short-term revenue fluctuations.
Area Asset Turnover Analysis: The area asset turnover ratio declined steeply from 3.54 in 2014 to 1.70 in 2016. This deterioration was driven by the simultaneous occurrence of falling revenues and rising asset costs. While the ratio saw a slight recovery to 1.90 in 2017, it ended the period at 1.80 in 2018. The failure of the ratio to return to 2014 levels suggests that the growth in the asset base has outpaced the recovery in revenue, leading to a lower overall efficiency of asset employment in the region.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Area Asset Turnover: Germany

LyondellBasell Industries N.V.; Germany; area asset turnover calculation

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Selected Financial Data (US$ in millions)
Sales and other operating revenues	2,949)	2,746)	2,474)	2,697)	4,231)
Long-lived assets	1,527)	1,417)	1,276)	1,331)	1,513)
Area Activity Ratio
Area asset turnover¹	1.93	1.94	1.94	2.03	2.80

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

¹ 2018 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 2,949 ÷ 1,527 = 1.93

Between 2014 and 2018, the German geographic area experienced a significant shift in operational efficiency and revenue generation. After a sharp contraction in 2015, the region demonstrated a steady but modest recovery in sales, although asset turnover rates remained suppressed compared to the 2014 benchmark.

Revenue Trends: Sales and other operating revenues underwent a substantial decrease from 4,231 million USD in 2014 to 2,697 million USD in 2015. Following a further slight dip in 2016 to 2,474 million USD, a period of gradual growth ensued, with revenues rising to 2,949 million USD by the end of 2018. Despite this recovery, revenues remained significantly lower than the initial 2014 levels.
Long-Lived Asset Utilization: Long-lived assets exhibited a U-shaped trend over the five-year period. Assets declined from 1,513 million USD in 2014 to a minimum of 1,276 million USD in 2016. Subsequently, there was a consistent increase in asset value, reaching 1,527 million USD by 2018, indicating a phase of reinvestment or asset expansion that coincided with the recovery in sales.
Area Asset Turnover Performance: The area asset turnover ratio saw a precipitous decline from 2.80 in 2014 to 2.03 in 2015. From 2016 through 2018, the ratio stabilized, remaining nearly flat between 1.94 and 1.93. This pattern indicates that the efficiency of generating revenue from long-lived assets shifted to a lower equilibrium; the increase in assets since 2016 mirrored the increase in revenues, preventing any improvement in the turnover ratio.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Area Asset Turnover: Mexico

LyondellBasell Industries N.V.; Mexico; area asset turnover calculation

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Selected Financial Data (US$ in millions)
Sales and other operating revenues	2,308)	1,504)	1,026)	951)	1,361)
Long-lived assets	254)	198)	175)	153)	161)
Area Activity Ratio
Area asset turnover¹	9.09	7.60	5.86	6.22	8.45

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

¹ 2018 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 2,308 ÷ 254 = 9.09

The financial performance of the Mexico area between 2014 and 2018 is characterized by a period of initial volatility followed by significant growth in both revenue generation and asset utilization efficiency.

Revenue Trends: Sales and other operating revenues experienced a notable decline between 2014 and 2015, falling from US$ 1,361 million to US$ 951 million. Following this contraction, a strong upward trajectory was established, with revenues increasing consecutively over the next three years to reach US$ 2,308 million by December 31, 2018. This represents a substantial recovery and expansion of the revenue base in the region.
Long-Lived Asset Evolution: The investment in long-lived assets remained relatively stable in the first two years, with a slight decrease to US$ 153 million in 2015. Starting in 2016, a consistent growth pattern emerged, with asset values rising to US$ 175 million, then US$ 198 million in 2017, and peaking at US$ 254 million in 2018. This indicates a steady expansion of the physical or capital infrastructure supporting operations in Mexico.
Area Asset Turnover Analysis: The area asset turnover ratio exhibits a U-shaped trend. The ratio decreased from 8.45 in 2014 to a low of 5.86 in 2016, reflecting a period where revenue declines outpaced any reduction in assets. However, a sharp reversal occurred in 2017 and 2018, with the ratio climbing to 7.60 and eventually 9.09. The fact that the turnover ratio in 2018 exceeded 2014 levels, despite a significant increase in the asset base, demonstrates that revenue growth significantly outpaced capital expenditure, leading to enhanced operational efficiency and higher productivity per unit of asset.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Area Asset Turnover: Italy

LyondellBasell Industries N.V.; Italy; area asset turnover calculation

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Selected Financial Data (US$ in millions)
Sales and other operating revenues	1,582)	1,352)	1,203)	1,349)	1,617)
Long-lived assets	343)	329)	309)	331)	400)
Area Activity Ratio
Area asset turnover¹	4.61	4.11	3.89	4.08	4.04

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

¹ 2018 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 1,582 ÷ 343 = 4.61

The financial performance of the Italy area from 2014 to 2018 is characterized by a period of contraction followed by a recovery in both revenue and asset efficiency. A V-shaped trend is observed in operating revenues, while the asset turnover ratio demonstrates a consistent ability to generate significant sales relative to the investment in long-lived assets.

Revenue Trends: Sales and other operating revenues experienced a downward trajectory from 2014 to 2016, falling from US$ 1,617 million to a period low of US$ 1,203 million. This decline was reversed starting in 2017, with revenues increasing to US$ 1,352 million and further rising to US$ 1,582 million by December 31, 2018.
Long-lived Asset Evolution: The asset base followed a similar pattern to revenues, decreasing from US$ 400 million in 2014 to US$ 309 million in 2016. A gradual increase occurred over the following two years, with long-lived assets reaching US$ 343 million by the end of 2018.
Area Asset Turnover Efficiency: The asset turnover ratio remained robust throughout the five-year period, fluctuating within a range of 3.89 to 4.61. The ratio reached its lowest point in 2016 at 3.89, coinciding with the trough in revenues. However, the efficiency improved significantly by 2018, peaking at 4.61. This indicates that the recovery in revenue growth outpaced the increase in long-lived assets, resulting in enhanced operational productivity per unit of asset investment.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Area Asset Turnover: France

LyondellBasell Industries N.V.; France; area asset turnover calculation

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Selected Financial Data (US$ in millions)
Sales and other operating revenues	1,460)	1,306)	1,055)	1,201)	1,591)
Long-lived assets	565)	551)	530)	485)	501)
Area Activity Ratio
Area asset turnover¹	2.58	2.37	1.99	2.48	3.18

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

¹ 2018 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 1,460 ÷ 565 = 2.58

The financial performance in France between 2014 and 2018 is characterized by a significant fluctuation in revenue generation and a subsequent recovery in asset efficiency. A period of contraction occurred between 2014 and 2016, followed by a steady rebound in the final two years of the observed period.

Sales and Other Operating Revenues: A marked decline in revenue is observed from 2014 to 2016, with figures falling from 1,591 million US$ to a low of 1,055 million US$. This downward trend reversed after 2016, as revenues grew to 1,306 million US$ in 2017 and further increased to 1,460 million US$ by 2018, although they did not fully return to 2014 levels.
Long-Lived Assets: Asset levels remained relatively stable throughout the period, exhibiting a gradual increase after a slight dip in 2015. Long-lived assets rose from 485 million US$ in 2015 to 565 million US$ in 2018, indicating consistent capital investment despite the earlier volatility in revenue.
Area Asset Turnover: The asset turnover ratio experienced a V-shaped trajectory, reflecting the volatility in operating revenues. The ratio decreased from 3.18 in 2014 to a minimum of 1.99 in 2016, signaling a temporary reduction in the efficiency of asset utilization. A recovery phase followed, with the ratio improving to 2.37 in 2017 and 2.58 in 2018, demonstrating an enhanced ability to generate sales from the asset base.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Area Asset Turnover: The Netherlands

LyondellBasell Industries N.V.; The Netherlands; area asset turnover calculation

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Selected Financial Data (US$ in millions)
Sales and other operating revenues	1,050)	1,069)	727)	856)	1,206)
Long-lived assets	757)	779)	657)	669)	708)
Area Activity Ratio
Area asset turnover¹	1.39	1.37	1.11	1.28	1.70

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

¹ 2018 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 1,050 ÷ 757 = 1.39

The asset utilization in the Netherlands experienced a period of volatility between 2014 and 2018, characterized by an initial decline in efficiency followed by a recovery phase. The area asset turnover ratio reflects the relationship between revenue generation and the long-lived assets deployed in the region.

Revenue Trends: Sales and other operating revenues underwent a significant contraction from 1,206 million US dollars in 2014 to a trough of 727 million US dollars in 2016. A strong recovery occurred in 2017, with revenues ascending to 1,069 million US dollars, followed by a slight moderation to 1,050 million US dollars in 2018.
Long-Lived Asset Movements: The asset base showed a gradual decrease from 708 million US dollars in 2014 to 657 million US dollars in 2016. This was followed by a notable increase to 779 million US dollars in 2017, suggesting capital investment or asset acquisition, before settling at 757 million US dollars in 2018.
Area Asset Turnover Analysis: The asset turnover ratio declined from 1.70 in 2014 to 1.11 in 2016, confirming that revenue decreased more rapidly than the reduction in the asset base. Efficiency improved in the subsequent two years, with the ratio rising to 1.37 in 2017 and 1.39 in 2018, indicating a successful restoration of revenue-generating capacity relative to the invested capital.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Area Asset Turnover: Other

LyondellBasell Industries N.V.; Other; area asset turnover calculation

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
Selected Financial Data (US$ in millions)
Sales and other operating revenues	10,984)	9,889)	8,736)	9,580)	12,028)
Long-lived assets	1,730)	1,585)	1,500)	1,580)	1,607)
Area Activity Ratio
Area asset turnover¹	6.35	6.24	5.82	6.06	7.48

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

¹ 2018 Calculation
Area asset turnover = Sales and other operating revenues ÷ Long-lived assets
= 10,984 ÷ 1,730 = 6.35

The operational performance in the "Other" geographic area between 2014 and 2018 was characterized by an initial decline in revenue efficiency followed by a period of gradual recovery. While long-lived assets remained relatively stable, the volatility in sales significantly influenced the asset turnover ratio during this five-year period.

Sales and Operating Revenues: A significant downward trend was observed from 2014 to 2016, with revenues falling from 12,028 million US$ to a period low of 8,736 million US$. This contraction was followed by a recovery phase, as revenues climbed back to 10,984 million US$ by December 31, 2018.
Long-lived Assets: Asset levels exhibited low volatility, fluctuating within a narrow range. Assets decreased slightly from 1,607 million US$ in 2014 to 1,500 million US$ in 2016, before increasing to a period high of 1,730 million US$ in 2018.
Area Asset Turnover: The turnover ratio closely mirrored the trajectory of operating revenues. A sharp decline occurred between 2014 and 2016, where the ratio dropped from 7.48 to 5.82. A subsequent upward trend is observed from 2017 through 2018, with the ratio improving to 6.35, indicating an increase in the efficiency of asset utilization to generate sales.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Sales and other operating revenues

LyondellBasell Industries N.V., sales and other operating revenues by geographic area

US$ in millions

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
United States	18,671)	16,618)	13,962)	16,101)	23,574)
Germany	2,949)	2,746)	2,474)	2,697)	4,231)
Mexico	2,308)	1,504)	1,026)	951)	1,361)
Italy	1,582)	1,352)	1,203)	1,349)	1,617)
France	1,460)	1,306)	1,055)	1,201)	1,591)
The Netherlands	1,050)	1,069)	727)	856)	1,206)
Other	10,984)	9,889)	8,736)	9,580)	12,028)
Total	39,004)	34,484)	29,183)	32,735)	45,608)

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

The overall revenue trajectory between 2014 and 2018 is characterized by a significant contraction followed by a period of steady recovery. Total sales and other operating revenues declined from 45,608 million USD in 2014 to a cyclical low of 29,183 million USD in 2016, before rebounding to 39,004 million USD by the end of 2018. This V-shaped trend is consistent across nearly all geographic segments, suggesting that the fluctuations were driven by systemic market conditions rather than region-specific failures.

North American Market Performance: The United States remains the primary revenue driver, consistently contributing the largest share of total sales. Although US revenues fell by approximately 41% between 2014 and 2016, a recovery began in 2017, reaching 18,671 million USD in 2018. Notably, Mexico demonstrated the most aggressive growth profile in the latter half of the period; after a dip in 2015, Mexican revenues grew from 951 million USD to 2,308 million USD by 2018, representing a substantial increase over 2014 levels.
European Market Dynamics: Revenues across major European markets—Germany, Italy, France, and the Netherlands—all experienced synchronized declines through 2016. Germany, previously the largest European contributor, saw its revenue drop from 4,231 million USD in 2014 to 2,474 million USD in 2016, with a partial recovery to 2,949 million USD by 2018. Italy and France showed more resilient recovery patterns, with 2018 revenues reaching 1,582 million USD and 1,460 million USD, respectively, nearly returning to their 2014 benchmarks. The Netherlands experienced a similar trend but remained below its 2014 peak, ending the period at 1,050 million USD.
Diversification and Other Regions: The "Other" geographic category represents a significant portion of the revenue stream, acting as a secondary pillar of financial stability. While this segment followed the general downward trend to a low of 8,736 million USD in 2016, it recovered to 10,984 million USD by 2018. The persistence of this high revenue volume indicates a well-diversified global footprint that mitigates over-reliance on any single national economy.

AI Ask an analyst for more

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Long-lived assets

LyondellBasell Industries N.V., long-lived assets by geographic area

US$ in millions

	Dec 31, 2018	Dec 31, 2017	Dec 31, 2016	Dec 31, 2015	Dec 31, 2014
United States	10,346)	8,761)	8,230)	7,087)	6,657)
Germany	1,527)	1,417)	1,276)	1,331)	1,513)
Mexico	254)	198)	175)	153)	161)
Italy	343)	329)	309)	331)	400)
France	565)	551)	530)	485)	501)
The Netherlands	757)	779)	657)	669)	708)
Other	1,730)	1,585)	1,500)	1,580)	1,607)
Total	15,522)	13,620)	12,677)	11,636)	11,547)

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

Total long-lived assets exhibited a consistent upward trajectory over the five-year period, increasing from $11,547 million in 2014 to $15,522 million in 2018. This represents an overall growth of approximately 34.4%, with the most substantial acceleration in asset accumulation occurring between 2017 and 2018.

North American Expansion: The United States serves as the primary driver of asset growth. Long-lived assets in the U.S. rose from $6,657 million in 2014 to $10,346 million in 2018. This growth resulted in a significant increase in geographic concentration, with the U.S. share of total long-lived assets rising from approximately 57.6% to 66.6% of the total portfolio.
European Geographic Trends: Performance across European regions was mixed. Germany experienced a period of volatility, with assets declining from $1,513 million in 2014 to $1,276 million in 2016, followed by a recovery to $1,527 million by 2018. France showed steady growth, increasing from $501 million to $565 million. Conversely, Italy saw a overall contraction, with assets decreasing from $400 million in 2014 to $343 million in 2018. The Netherlands remained relatively stable, ending the period at $757 million.
Secondary Markets and Other Regions: Mexico demonstrated a consistent upward trend, with assets increasing from $161 million in 2014 to $254 million in 2018. Assets categorized as "Other" also experienced gradual growth, rising from $1,607 million to $1,730 million over the analyzed period.

AI Ask an analyst for more