Trade tariffs, competition from Asia and the European cost structure placed pressure on the sector over the past year. We ended below budget but remained profitable. Our diversity and flexibility, combined with the determination of the team, ensure that Proviron remains financially healthy.
“Because we are active in multiple markets and sectors, economic fluctuations can be absorbed more effectively.”
The international trade environment was particularly turbulent in 2025. New US import tariffs created hesitation and operational complexity, although the financial impact for us ultimately remained limited. The indirect effects, however, were more noticeable, in the form of low-cost Asian products flooding the European market. The business units recorded mixed results. Provichem experienced the greatest impact from the global economic slowdown, mainly due to its close link with the construction sector. Provifrost, on the other hand, performed better than expected thanks to strong preparation and an efficient Logistics organisation during an exceptional winter period.
Once again, our diversified portfolio proved its value. Because we are active in multiple markets and sectors, economic fluctuations can be absorbed more effectively. This provides stability, even during periods of economic downturn.
Over the past year, we deliberately chose a well-considered approach: cautious where necessary, decisive where possible. We did not implement large-scale cost-cutting measures, but we carefully assessed investments. We also optimised inventory management and refined our product portfolio.
Activities with limited added value were phased out, allowing us to focus more clearly on what generates returns without losing our diversity. We are sincerely grateful for the positive and constructive mindset of our team. Thanks to their commitment and flexibility, all potential was utilised within the availablepossibilities.
In terms of safety, we look back on a positive year without major incidents. Attention to prevention, and particularly the correct use of personal protective equipment, remains essential to maintain this result. In addition, cybersecurity is gaining importance. European companies are increasingly confronted with digital attacks, making training and awareness a structural necessity. Safety is therefore taking on a broader meaning: alongside physical protection, we are also focusing on digital resilience.
The outlook for the European chemical industry remains uncertain. High energy costs and administrative burdens continue to be the main challenges and weigh on the sector’s competitiveness. In this context, Proviron, as a family business, opts for a risk-aware strategy focused on sustainable activities, job security and a future-oriented product portfolio.
Leo Michiels
Chairman of the Board
For Proviron, it was a year of challenges and strategic choices, but also of progress. The investments of recent years and the commitment of the team made it possible to continue to grow in difficult market conditions.
“While the chemical sector in Europe was under pressure, Proviron still managed to achieve modest growth in 2024.”
Safety remains a fundamental area of focus. In 2024, we saw too many minor incidents,both in production and in the labs. Although they had no serious consequences, we want to prevent worse. We took measures such as increased awareness, new tools and additional safety training.
A safety culture in which employees are aware of risks and are willing to hold eachother responsible is something we remain committed to. Taking time to prevent accidents is crucial – safety should never be secondary to time pressure.
While the chemical sector in Europe was under pressure, Proviron still managed to achieve modest growth in 2024 compared to 2023. The investments are paying off, and this gives us the resilience to face challenges. In 2022 and 2023, some new production units were launched such as binders for green tyres, feed additives and heat transfer fluids. In 2024, our other plants and processesreceived considerable attention in terms of maintenance and investment. As a result, we are not only in good operational condition, we also strengthened our relationship of trust with the government.
A good example of this is the successful implementation of our new ERP system in April. Thanks to thoughtful preparation and the commitment of our teams, the transition went particularly smoothly – a testament to the strength of cooperation within Proviron. For all these efforts and continued commitment, we would like to sincerely thank everyone. Together, we will continue to build a strong future.
Leo Michiels
Chairman of the Board
