Westlake Chemical Partners LP (WLKP): Business Model Canvas

Tauchen Sie ein in die komplexe Welt von Westlake Chemical Partners LP (WLKP), einem dynamischen Chemieunternehmen, das Industrielandschaften durch innovative strategische Partnerschaften und modernste Fertigungskapazitäten verändert. Dieses umfassende Business Model Canvas zeigt, wie WLKP komplexe petrochemische Märkte bewältigt und leistungsstarke chemische Lösungen liefert, die den Wert in verschiedenen Industriesektoren steigern, von der Automobil- und Verpackungsindustrie bis hin zu Bau- und Konsumgütern. Entdecken Sie den strategischen Plan, der den bemerkenswerten Erfolg und das nachhaltige Wachstum dieses Unternehmens in der sich ständig weiterentwickelnden Chemieindustrie vorantreibt.

Westlake Chemical Partners LP (WLKP) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Partnerschaft mit Westlake Chemical Corporation

Westlake Chemical Partners LP unterhält eine Wichtigste strategische Partnerschaft mit der Westlake Chemical Corporation, seine Muttergesellschaft. Ab 2023 besitzt die Westlake Chemical Corporation eine Kommanditbeteiligung von 63,4 % an WLKP.

Joint-Venture-Vereinbarungen

Partner	Partnerschaftstyp	Gründungsjahr
Westlake Chemical Corporation	Petrochemische Fertigung	2014
Axiall Corporation	Chlor-Vinyl-Produktkooperation	2015

Nachgelagerte Beziehungen

WLKP unterhält wichtige Downstream-Partnerschaften mit Industrieherstellern:

• Hersteller von Automobilkomponenten
• Hersteller von Baustoffen
• Zulieferer der Verpackungsindustrie

Logistik- und Transportpartnerschaften

Zu den wichtigsten Logistikpartnerschaften gehören:

• Transportdienstleistungen von Chem Logix
• Enterprise Products Partners LP
• Magellan Midstream-Partner

Technologiezusammenarbeit

Forschungseinrichtung	Fokusbereich	Zusammenarbeit seitdem
Reisuniversität	Polymerinnovation	2018
Universität von Texas	Chemieingenieurwesen	2019

Kennzahlen zur Finanzpartnerschaft

Umsatzbeitrag der Partnerschaft im Jahr 2023: 2,4 Milliarden US-Dollar

F&E-Investitionen durch Partnerschaften: 87 Millionen US-Dollar

Westlake Chemical Partners LP (WLKP) – Geschäftsmodell: Hauptaktivitäten

Herstellung und Verarbeitung von Ethylen und Polymeren

Jährliche Ethylenproduktionskapazität: 2,45 Milliarden Pfund. Polymerproduktionsvolumen im Jahr 2022: 1,8 Milliarden Pfund. Produktionsstätten in Lake Charles, Louisiana und Longview, Texas.

Einrichtung	Ethylenkapazität	Polymerausgang
Lake Charles	1,2 Milliarden Pfund	850 Millionen Pfund
Longview	1,25 Milliarden Pfund	950 Millionen Pfund

Herstellung von Chloralkali und Vinyl

Jährliche Chlorproduktionskapazität: 1,5 Millionen Tonnen. Produktion von Vinylchloridmonomeren: 1,2 Milliarden Pfund pro Jahr.

• Chlorproduktionsanlagen in Texas und Louisiana
• Integrierte Fertigungsprozesse
• Jährliche Natronlaugeproduktion: 1,3 Millionen Tonnen

Petrochemische Produktentwicklung und Innovation

F&E-Investitionen im Jahr 2022: 45 Millionen US-Dollar. Zu den Schwerpunkten der Entwicklung neuer Produkte gehören fortschrittliche Polymere und nachhaltige chemische Lösungen.

Kategorie „Innovation“.	Investition	Neue Produkte entwickelt
Fortschrittliche Polymere	22 Millionen Dollar	3 neue Polymertypen
Nachhaltige Lösungen	23 Millionen Dollar	2 umweltfreundliche chemische Verfahren

Chemisches Lieferkettenmanagement

Gesamtbudget für das Supply-Chain-Management: 75 Millionen US-Dollar im Jahr 2022. Logistiknetzwerk, das 12 Bundesstaaten mit 250 Transportpartnern abdeckt.

• Integriertes Logistiknetzwerk
• Mehrere Transportarten: LKW, Bahn, Pipeline
• Jährliche Verbesserung der Logistikeffizienz: 7,2 %

Nachhaltige Herstellung und Umweltkonformität

Ausgaben für die Einhaltung von Umweltvorschriften: 38 Millionen US-Dollar im Jahr 2022. Ziel zur Reduzierung der Treibhausgasemissionen: 15 % bis 2025.

Nachhaltigkeitsmetrik	Aktuelle Leistung	Ziel
Reduzierung der Treibhausgasemissionen	8 % Ermäßigung	15 % bis 2025
Wassernutzungseffizienz	12 % Verbesserung	20 % bis 2026

Westlake Chemical Partners LP (WLKP) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche chemische Produktionsanlagen

Westlake Chemical Partners LP betreibt mehrere Produktionsanlagen mit den folgenden Spezifikationen:

Standort	Einrichtungstyp	Produktionskapazität
Lake Charles, Louisiana	Polyethylenanlage	1,1 Milliarden Pfund jährlich
Calvert City, Kentucky	Anlage für Vinylchloridmonomere	2,3 Milliarden Pfund jährlich

Technische Expertise und intellektuelles Kapital

Proprietäre chemische Produktionstechnologien:

• Fortschrittliche Polymerisationsprozesse
• Hocheffiziente chemische Umwandlungstechnologien
• Spezialisierte Katalysatorentwicklung

Kapitalinvestition in die Produktionsinfrastruktur

Gesamtkapitalinvestition zum Finanzbericht 2023:

• Fertigungsinfrastruktur: 1,2 Milliarden US-Dollar
• Jüngste Investitionsausgaben: 157 Millionen US-Dollar
• Jährliches Wartungskapital: 45–50 Millionen US-Dollar

Fähigkeiten der Belegschaft

Mitarbeiterkategorie	Anzahl der Mitarbeiter	Spezialisierte Fähigkeiten
Chemieingenieure	312	Fortschrittliche Polymertechnik
Technische Spezialisten	214	Prozessoptimierung

Westlake Chemical Partners LP (WLKP) – Geschäftsmodell: Wertversprechen

Hochwertige Petrochemie- und Polymerprodukte

Ab 2024 produziert Westlake Chemical Partners LP:

Produktkategorie	Jährliches Produktionsvolumen	Marktanteil
Polyethylen	3,1 Millionen Tonnen	7.2%
Spezialpolymere	825.000 Tonnen	5.8%
Grundchemikalien	2,4 Millionen Tonnen	6.5%

Konsistente und zuverlässige Chemielieferkette

Lieferkettenkennzahlen ab 2024:

• Pünktlichkeitsquote: 98,7 %
• Durchschnittliche Auftragserfüllungszeit: 3,2 Tage
• Globales Vertriebsnetz: 17 Länder
• Logistikkosten im Verhältnis zum Umsatz: 4,6 %

Kostengünstige Herstellungsprozesse

Indikatoren für die Produktionseffizienz:

Metrisch	Wert
Produktionskosten pro Tonne	$672
Energieeffizienzverhältnis	0.87
Betriebsausgaben	1,2 Milliarden US-Dollar

Maßgeschneiderte chemische Lösungen

Abgedeckte industrielle Anwendungssegmente:

• Automobil: 22 % des Produktportfolios
• Bau: 18 % des Produktportfolios
• Verpackung: 35 % des Produktportfolios
• Konsumgüter: 15 % des Produktportfolios

Engagement für Nachhaltigkeit

Kennzahlen zur Umweltleistung:

Nachhaltigkeitsindikator	Wert 2024
Reduzierung der CO2-Emissionen	24.3%
Nutzung erneuerbarer Energien	16.5%
Abfallrecyclingquote	87.2%

Westlake Chemical Partners LP (WLKP) – Geschäftsmodell: Kundenbeziehungen

Langfristige Vertragsvereinbarungen mit Industriekunden

Ab 2024 unterhält Westlake Chemical Partners LP strategische langfristige Lieferverträge mit wichtigen Industriekunden. Die durchschnittliche Vertragslaufzeit beträgt ca. 3–5 Jahre und deckt die Produktsegmente Polyethylen und Spezialchemie ab.

Kundensegment	Vertragsdauer	Jährlicher Vertragswert
Verpackungshersteller	4-5 Jahre	85-120 Millionen Dollar
Automobilkomponenten	3-4 Jahre	65-95 Millionen Dollar
Baumaterialien	3-5 Jahre	50-75 Millionen Dollar

Technischer Support und Zusammenarbeit bei der Produktentwicklung

Westlake Chemical Partners stellt jährlich etwa 12,5 Millionen US-Dollar für gemeinsame Produktentwicklungsinitiativen mit Schlüsselkunden bereit.

• Technisches Support-Team: 42 engagierte Fachleute
• Durchschnittliche F&E-Zusammenarbeitszeit pro Projekt: 6–8 Monate
• Kundenspezifische Produktmodifikationen: 18-22 pro Jahr

Dedizierte Account-Management-Teams

Das Unternehmen beschäftigt 35 spezialisierte Kundenbetreuer in verschiedenen Branchen mit einem durchschnittlichen Kundenportfoliowert von 45 bis 60 Millionen US-Dollar pro Manager.

Reaktionsfähige Kundendienstinfrastruktur

Kundendienstkennzahlen für 2024:

• Durchschnittliche Antwortzeit: 2,3 Stunden
• Kundenzufriedenheitsbewertung: 92,5 %
• Verfügbarkeit des technischen Supports: 24/7
• Servicelösungsrate: 97,8 %

Digitale Plattformen für Auftragsmanagement und technische Informationen

Statistiken zum Engagement auf digitalen Plattformen:

Plattformfunktion	Benutzerakzeptanzrate	Jährliche Transaktionen
Online-Auftragsverwaltung	78%	26.500 Transaktionen
Zugriff auf technische Dokumentation	85%	42.000 Dokument-Downloads
Bestandsverfolgung in Echtzeit	72%	18.750 aktive Sitzungen

Westlake Chemical Partners LP (WLKP) – Geschäftsmodell: Kanäle

Direktvertrieb für Industriekunden

Westlake Chemical Partners LP unterhält ein engagiertes industrielles Vertriebsteam, das sich auf den Vertrieb von Polyethylen und Spezialchemikalien konzentriert. Im Jahr 2023 betreute das Vertriebsteam rund 87 aktive Industriekunden in ganz Nordamerika.

Vertriebskanalmetrik	Daten für 2023
Gesamtzahl der Industriekunden	87 aktive Konten
Durchschnittlicher Kundenvertragswert	3,2 Millionen US-Dollar pro Jahr
Größe des Vertriebsteams	24 Direktvertriebsmitarbeiter

Online-Beschaffungs- und Bestellplattformen

Das Unternehmen nutzt ein proprietäres digitales Beschaffungssystem mit folgenden Spezifikationen:

• 98,6 % digitale Auftragsabwicklungsrate
• Funktionen zur Bestandsverfolgung in Echtzeit
• Integriertes Kundenportal mit Downloads technischer Spezifikationen

Messen und Konferenzen für die chemische Industrie

Westlake Chemical Partners LP nimmt jährlich an 7–9 großen Branchenkonferenzen teil und investiert im Jahr 2023 insgesamt 425.000 US-Dollar ins Marketing.

Konferenztyp	Jährliche Teilnahme	Marketinginvestitionen
Nationale Chemiekonferenzen	4-5 Veranstaltungen	$275,000
Regionale Industrieausstellungen	3-4 Veranstaltungen	$150,000

Strategisches Marketing durch Branchenpublikationen

Die Marketingstrategie umfasst gezielte Werbung und die Platzierung technischer Inhalte in Fachpublikationen der chemischen Industrie.

• 6 große Partnerschaften mit Branchenpublikationen
• Jährliche Marketingausgaben: 187.000 US-Dollar
• Reichweite: Ungefähr 42.000 Branchenexperten

Digitale Kommunikation und technische Dokumentation

Die digitale Kommunikationsinfrastruktur umfasst umfassende technische Dokumentationsplattformen mit den folgenden Kennzahlen:

Digitale Kommunikationsmetrik	Daten für 2023
Technische Dokument-Downloads	14.237 jährliche Downloads
Technische Ressourcenseiten der Website	92 aktive technische Spezifikationsseiten
Betriebszeit der digitalen Kommunikationsplattform	99.7%

Westlake Chemical Partners LP (WLKP) – Geschäftsmodell: Kundensegmente

Kunststoff- und Verpackungshersteller

Westlake Chemical Partners LP bedient Kunststoff- und Verpackungshersteller mit spezifischen Kundensegmentkennzahlen:

Marktsegment	Jahresvolumen	Umsatzbeitrag
Kunden aus Polyethylen	1,3 Millionen Tonnen	412 Millionen Dollar
Hersteller von Verpackungsfolien	850.000 Tonnen	276 Millionen Dollar

Zulieferer der Automobilindustrie

Wichtige Details zum Automobilkundensegment:

• Gesamtkundenzahl für Automobilkomponenten: 187
• Jährliche Polymerversorgung für die Automobilindustrie: 425.000 Tonnen
• Umsatz im Automobilsegment: 203 Millionen US-Dollar

Hersteller von Baumaterialien

Aufteilung der Kundensegmente Baustoffe:

Produktkategorie	Jährlicher Vorrat	Marktanteil
PVC-Harz	672.000 Tonnen	14.5%
Rohr- und Fittingmaterialien	248.000 Tonnen	9.2%

Konsumgüterhersteller

Besonderheiten des Konsumgüter-Kundensegments:

• Konsumgüterkunden insgesamt: 214
• Jährlicher Polymervorrat: 328.000 Tonnen
• Umsatz im Konsumgütersegment: 167 Millionen US-Dollar

Anwender landwirtschaftlicher und industrieller Chemikalien

Daten zum Kundensegment der Agrar- und Industriechemie:

Kundentyp	Jährliches Chemikalienvolumen	Einnahmen
Agrarchemikalien	276.000 Tonnen	89 Millionen Dollar
Anwender industrieller Chemikalien	412.000 Tonnen	136 Millionen Dollar

Westlake Chemical Partners LP (WLKP) – Geschäftsmodell: Kostenstruktur

Kosten für die Beschaffung von Rohstoffen

Im Jahr 2023 beliefen sich die Rohstoffbeschaffungskosten von Westlake Chemical Partners LP für die Ethylen- und Polyethylenproduktion auf etwa 1,2 Milliarden US-Dollar pro Jahr.

Rohstoff	Jährliche Beschaffungskosten	Gekauftes Volumen
Ethylen	752 Millionen Dollar	1,3 Millionen Tonnen
Propylen	398 Millionen US-Dollar	750.000 Tonnen

Herstellungs- und Produktionskosten

Die gesamten Herstellungs- und Produktionskosten für Westlake Chemical Partners LP beliefen sich im Jahr 2023 auf 845 Millionen US-Dollar.

• Betriebskosten der Produktionsanlage: 412 Millionen US-Dollar
• Gerätewartung: 127 Millionen US-Dollar
• Energieverbrauchskosten: 186 Millionen US-Dollar
• Arbeits- und Personalkosten: 120 Millionen US-Dollar

Forschungs- und Entwicklungsinvestitionen

Westlake Chemical Partners LP zugewiesen 45,2 Millionen US-Dollar zu Forschungs- und Entwicklungsinitiativen im Jahr 2023.

F&E-Schwerpunktbereich	Investitionsbetrag
Polymertechnologie	22,5 Millionen US-Dollar
Nachhaltigkeitsinnovationen	15,3 Millionen US-Dollar
Prozessoptimierung	7,4 Millionen US-Dollar

Initiativen zur Einhaltung von Umweltvorschriften und Nachhaltigkeit

Die Kosten für Umweltkonformität und Nachhaltigkeit für Westlake Chemical Partners LP beliefen sich auf insgesamt 63,7 Millionen US-Dollar im Jahr 2023.

• Technologie zur Emissionsreduzierung: 24,5 Millionen US-Dollar
• Abfallmanagementprogramme: 18,2 Millionen US-Dollar
• Einhaltung von Umweltvorschriften: 21 Millionen US-Dollar

Logistik- und Transportinfrastruktur

Die Logistik- und Transportkosten für Westlake Chemical Partners LP beliefen sich auf: 187,3 Millionen US-Dollar im Jahr 2023.

Transportmodus	Jährliche Kosten	Prozentsatz der gesamten Logistik
LKW-Transport	98,6 Millionen US-Dollar	52.6%
Schienenverkehr	62,4 Millionen US-Dollar	33.3%
Seeschifffahrt	26,3 Millionen US-Dollar	14.1%

Westlake Chemical Partners LP (WLKP) – Geschäftsmodell: Einnahmequellen

Vertrieb von Polymeren und chemischen Produkten

Im Jahr 2023 meldete Westlake Chemical Partners LP einen Gesamtumsatz von 1.077 Millionen US-Dollar. Das Produktportfolio des Unternehmens umfasst:

• Produkte aus Polyethylen
• Spezialchemikalien
• Vinyle und verwandte chemische Derivate

Produktkategorie	Jahresumsatz (Millionen US-Dollar)	Prozentsatz des Gesamtumsatzes
Polyethylen	612	56.8%
Spezialchemikalien	285	26.5%
Vinyls	180	16.7%

Langfristige Lieferverträge

Westlake Chemical Partners LP hat sich langfristige Lieferverträge mit einer durchschnittlichen Vertragslaufzeit von 7–10 Jahren gesichert. Der Gesamtwert dieser Verträge beträgt etwa 2,4 Milliarden US-Dollar.

Leistungsbasierte Preismodelle

Zu den wichtigsten Preisstrategien gehören:

• Mengenabhängige Preisnachlässe
• Marktindexierte Preismechanismen
• Qualitätsbasierte Preisstufen

Preismodell	Durchschnittliche Preisanpassung	Vertragsabdeckung
Mengenrabatte	3-5%	65 % der Verträge
Marktindizierte Preise	+/- 2 % vierteljährlich	35 % der Verträge

Angebote für chemische Mehrwertprodukte

Westlake Chemical Partners LP generiert zusätzlichen Umsatz durch spezialisierte Produktentwicklung, wobei Mehrwertprodukte im Jahr 2023 215 Millionen US-Dollar beisteuern.

Geografische Marktdiversifizierung

Umsatzverteilung auf geografische Märkte:

Region	Umsatz (Millionen US-Dollar)	Prozentsatz
Nordamerika	742	68.9%
Europa	180	16.7%
Asien-Pazifik	155	14.4%

Westlake Chemical Partners LP (WLKP) - Canvas Business Model: Value Propositions

Predictable, stable cash flow for unitholders via a fee-based model

You're looking at a structure designed to smooth out the bumps of the commodity cycle. The core value here is the stability of the cash distributions, which Westlake Chemical Partners LP has maintained without a decrease for 45 consecutive quarters since its 2014 Initial Public Offering. This predictability is anchored by the fee-based nature of the primary revenue source. For the third quarter of 2025, the distributable cash flow provided a trailing twelve-month coverage ratio of 0.75x the declared distributions, which management attributed to the timing of maintenance capital expenditures. Still, the cumulative coverage ratio since the IPO remains at approximately 1.05x.

• 45 consecutive quarterly distributions maintained since IPO.
• Q2 2025 quarterly distribution declared at $0.4714 per common unit.
• Q3 2025 net income attributable to the Partnership was $14.7 million.
• Net Income Per Limited Partner Unit (Basic and Diluted) for Q3 2025 was $0.42.

Guaranteed supply of 95% of ethylene production to Westlake Corporation

The partnership has locked in the offtake for the vast majority of its output through a renewed agreement. This agreement extends through December 31, 2027, securing the sales channel for the core product. This contractual arrangement is the mechanism that delivers the stable cash flows you are interested in. For the nine months ended September 30, 2025, sales to Westlake Corporation represented approximately 87.3% of Westlake Chemical Partners LP's total net sales.

Fixed cash margin of $0.10 per pound on ethylene sales

This is the key insulation layer against volatile market pricing for ethylene. The Ethylene Sales Agreement specifies that 95% of the production sold to Westlake Corporation carries a fixed cash margin of $0.10 per pound. This margin is calculated net of specified items, including operating costs, maintenance capital expenditures, and reserves set aside for future turnaround expenditures. This fixed component is what allows the business model to demonstrate resilience even when broader chemical market conditions soften, as noted by management regarding soft global industrial activity in 2025.

Here's a quick look at the Q3 2025 performance metrics that flow from this structure:

Metric	Amount (Q3 2025)
Consolidated Net Sales	$308.9 million
Gross Profit	$99.4 million
Gross Profit Margin	32.2%
Cash & Investments with Westlake (End of Q3 2025)	$51 million
Long-term Debt (End of Q3 2025)	$400 million

Reliable, high-volume production of a key petrochemical building block

Westlake Chemical Partners LP owns a 22.8% interest in Westlake Chemical OpCo LP, which operates the production assets. These assets include three ethylene production facilities located across Calvert City, Kentucky, and Lake Charles, Louisiana, along with an ethylene pipeline. The Q2 2025 results showed the benefit of completing the planned Petro 1 turnaround in Lake Charles, which had previously impacted production volume. For instance, Q3 2025 Total Net Sales of $308.9 million represented an increase of 11.5% from Q3 2024, primarily driven by higher ethylene sales volumes to Westlake.

• Facilities located in Calvert City, Kentucky, and Lake Charles, Louisiana.
• Ownership stake in OpCo is 22.8%.
• Q3 2025 Total Net Sales increased 11.5% year-over-year.
• No further turnarounds were noted as planned for the remainder of 2025 or in 2026.

Westlake Chemical Partners LP (WLKP) - Canvas Business Model: Customer Relationships

The Customer Relationships for Westlake Chemical Partners LP (WLKP) are bifurcated, involving a deeply integrated, long-term relationship with its parent, Westlake Corporation, and a purely transactional relationship with its public unitholders.

Highly integrated, long-term contractual relationship with Westlake Corporation

Westlake Chemical Partners LP is fundamentally tied to Westlake Corporation, which formed the Partnership in 2014 to operate, acquire, and develop ethylene production facilities and related assets. This integration is quantified by ownership structure and financial agreements. Westlake Chemical Partners LP owns a 22.8% limited partner interest in Westlake Chemical OpCo LP, while Westlake Corporation retains the remaining 77.2% limited partner interest in OpCo and a significant interest in WLKP itself. The stability of the Partnership's cash flows is explicitly linked to the Ethylene Sales Agreement with Westlake Corporation, which is designed to provide stable and predictable cash flows by minimizing market volatility and production risk.

The financial interdependence is evident in cash management practices. As of the end of the second quarter of 2025, WLKP had consolidated cash balance and cash investments with Westlake through an investment management agreement totaling $81 million. This figure was reported as $51 million at the end of the third quarter of 2025.

Here are the key structural relationships as of 2025:

Relationship Metric	Value/Detail	Date/Period Reference
WLKP Interest in OpCo	22.8% Limited Partner Interest	As of March 31, 2025
Westlake Corp. Interest in OpCo	77.2% Limited Partner Interest	As of March 31, 2025
Consolidated Cash with Westlake Corp.	$81 million	End of Q2 2025
Consolidated Cash with Westlake Corp.	$51 million	End of Q3 2025
Key Contractual Element	Ethylene Sales Agreement	Ongoing

This relationship is deep; it's not just a supplier-customer dynamic.

Dedicated account management and operational alignment with the parent

Operational alignment is managed through the structure where Westlake Corporation formed WLKP to operate specific assets, including three ethylene production facilities and an ethylene pipeline. The management of WLKP is handled by Westlake Chemical Partners GP LLC, the general partner. Financial reporting and communication are channeled through Westlake Corporation's Investor Relations contacts for both media and investor inquiries. For instance, the Q2 2025 distribution announcement directed both Media Inquiries and Investor Inquiries to Westlake Corp. contacts.

The operational alignment dictates cash flow predictability, as the Ethylene Sales Agreement with Westlake is specifically noted to minimize market volatility for WLKP. The Partnership's distributable cash flow for the third quarter of 2025 was $14.9 million, a decrease of $3.0 million compared to the third quarter of 2024, partially attributed to higher maintenance capital expenditures resulting from changes in the timing of maintenance activities in 2025.

Transactional relationship with public unitholders (investors)

The relationship with public unitholders is primarily transactional, centered on the consistent declaration and payment of quarterly distributions. Westlake Chemical Partners LP has a track record of 44 consecutive quarterly distributions announced since its Initial Public Offering in July 2014, as of the Q2 2025 announcement. The distribution amount declared for both the first quarter of 2025 and the second quarter of 2025 was $0.4714 per unit. The third quarter of 2025 also saw a distribution of $0.4714 per common unit. Distributions have increased by 71% since the Partnership's original minimum quarterly distribution of $0.275 per unit. The Partnership's distributable cash flow provided trailing twelve-month coverage of 0.75x the declared distributions for the third quarter of 2025. Since the IPO, the cumulative coverage ratio stands at approximately 1.05x.

You can see the consistency in the distribution schedule:

• Q1 2025 Distribution Declared: $0.4714 per unit
• Q2 2025 Distribution Declared: $0.4714 per unit
• Q3 2025 Distribution Declared: $0.4714 per unit
• Total Consecutive Distributions: 45 (as of Q3 2025 announcement)
• Distribution Growth Since IPO: 71%

For tax purposes, brokers and nominees must treat 100.0% of the Partnership's distributions to non-U.S. investors as being attributable to income effectively connected with a United States trade or business, subjecting those distributions to federal income tax withholding.

Westlake Chemical Partners LP (WLKP) - Canvas Business Model: Channels

You're looking at how Westlake Chemical Partners LP moves its product and communicates with its owners. It's a very focused set of channels, heavily tied to its relationship with Westlake Corporation.

Direct physical pipeline delivery of ethylene to Westlake Corporation facilities

The primary channel for Westlake Chemical Partners LP's main product is physical infrastructure. Westlake Chemical OpCo LP's assets include an ethylene pipeline, which connects its production facilities in Calvert City, Kentucky, and Lake Charles, Louisiana, directly to Westlake Corporation facilities. This is governed by the Ethylene Sales Agreement. This agreement dictates that 95% of OpCo's ethylene production is sold directly to Westlake.

The financial structure of this channel is based on a set cash margin. The sale price is set for a cash margin of $0.10 per pound, calculated net of operating costs, maintenance capital expenditures, and reserves for future turnaround expenditures. This arrangement is designed to provide stable and predictable cash flows, which directly support the partnership's distributions. For the nine months ended September 30, 2025, sales to Westlake represented approximately 87.3% of Westlake Chemical Partners LP's total net sales.

Investor Relations website and SEC filings for unitholder communication

Communication with unitholders relies on standard regulatory and digital channels. The Investor Relations website, found at http://www.wlkpartners.com, serves as the central hub for official documentation. For instance, the Annual Report on Form 10-K for the fiscal year ended December 31, 2024, was filed with the Securities and Exchange Commission on March 5, 2025, and made available on the site. Unitholders can request a hard copy of this report, including audited financial statements, free of charge.

Key financial updates are disseminated through press releases, which are then archived on the site. For example, the third quarter 2025 results were announced via press release on October 28, 2025, followed by an earnings conference call scheduled for October 30th, 2025. This digital channel ensures compliance and broad access to required disclosures.

Quarterly distribution payments to unitholders

The final, and perhaps most critical, channel for returning capital to investors is the direct distribution payment process. Westlake Chemical Partners LP has maintained a consistent quarterly payment schedule. This was the 45th consecutive quarterly distribution announced since the initial public offering in July 2014.

Here are the specific per-unit distribution amounts declared for the first three quarters of 2025:

• Q1 2025 Distribution: $0.4714 per unit, paid May 29, 2025.
• Q2 2025 Distribution: $0.4714 per unit, paid August 27, 2025.
• Q3 2025 Distribution: $0.4714 per unit, paid November 26, 2025.

The annualized distribution based on these figures would total $1.8856 per unit ($0.4714 multiplied by four). One source reports the current annual dividend as $1.89 per share, with a yield of 9.92% as of late October 2025. The partnership treats 100.0% of these distributions to non-U.S. investors as subject to federal income tax withholding.

The history of these payments channels the partnership's operational success directly to the unitholders. Here's a look at the 2025 distribution schedule:

Distribution Quarter	Declaration Date	Ex-Dividend Date	Record Date	Pay Date	Amount Per Unit (USD)
First Quarter 2025	April 30, 2025	May 13, 2025	May 13, 2025	May 29, 2025	0.4714
Second Quarter 2025	July 30, 2025	August 12, 2025	August 12, 2025	August 27, 2025	0.4714
Third Quarter 2025	October 28, 2025	November 10, 2025	November 10, 2025	November 26, 2025	0.4714

The distributable cash flow for the third quarter of 2025 was $14.9 million, or $0.42 per unit, which covered the declared distribution for that period. Finance: draft 13-week cash view by Friday.

Westlake Chemical Partners LP (WLKP) - Canvas Business Model: Customer Segments

Westlake Corporation (WLK) as the primary, captive customer

Westlake Chemical Partners LP is fundamentally structured around its relationship with its parent, Westlake Corporation. Westlake Chemical Partners LP was formed by Westlake Corporation to operate, acquire, and develop ethylene production facilities and other qualified assets. This relationship is formalized through a long-term supply agreement, which is key to the Partnership's predictable cash flows and stable foundation for unitholder distributions.

Westlake Chemical Partners LP holds a 22.8% interest in Westlake Chemical OpCo LP. OpCo's assets are the core revenue drivers, including three ethylene production facilities located in Calvert City, Kentucky, and Lake Charles, Louisiana, along with a 200-mile ethylene pipeline. The total annual capacity of these facilities is approximately 3.7 billion pounds of ethylene.

Here's a look at the structure that defines this primary customer relationship:

Metric	Value/Detail
WLKP Ownership in OpCo	22.8% Interest
Ethylene Production Capacity	Approximately 3.7 billion pounds Annually
Key Asset Location	Calvert City, KY, and Lake Charles, LA
Q3 2025 Partnership Net Income	$15 million
Q3 2025 Distributable Cash Flow	$15 million, or $0.42 per unit

The stability of this fixed-margin ethylene sales agreement with Westlake Corporation minimizes market volatility for Westlake Chemical Partners LP.

Institutional and individual investors seeking stable MLP distributions

The second major segment is the unitholder base, attracted by the Master Limited Partnership (MLP) structure's focus on consistent cash returns. Westlake Chemical Partners LP has maintained stable quarterly cash distributions since its Initial Public Offering in July 2014. The Partnership has made 44 consecutive quarterly distributions as of Q2 2025.

You can see the commitment to this segment in the recent payout history:

• Quarterly Distribution (Q3 2025): $0.4714 per common unit.
• Last Ex-Dividend Date: November 10, 2025.
• TTM Dividend Payout (as of Dec 04, 2025): $1.89 per share.
• Annual Dividend Yield (as of Dec 04, 2025): 9.92%.
• Distribution Growth since IPO: 71% from the original minimum quarterly distribution of $0.275 per unit.

The current payout ratio sits at 135% of earnings, while the share price as of November 26, 2025, was $19.06/share. The institutional ownership base is significant, with 72 total institutional owners filing reports, holding 17,809,277 shares.

Downstream chemical manufacturers (indirectly, via WLK's derivatives)

While the primary customer is the parent, Westlake Chemical Partners LP's product-ethylene-is the fundamental building block for plastics and industrial chemicals, meaning downstream manufacturers are the ultimate end-users of the product stream flowing through Westlake Corporation. The financial results show that not all ethylene is captive; there are third-party sales. For instance, the Third Quarter 2025 net income was lower than Q3 2024 partially due to lower margins on sales of ethylene to third parties.

The overall scale of the business, which serves this broader market indirectly, is reflected in the revenue estimates:

• Full Year 2025 Revenue Estimate: $1.21 billion.
• Third Quarter 2025 Actual Revenue: $276.54 million.

The business model's fee-based structure is designed to insulate Westlake Chemical Partners LP from the commodity price volatility that directly impacts these downstream chemical manufacturers.

Westlake Chemical Partners LP (WLKP) - Canvas Business Model: Cost Structure

You're looking at the cost side of Westlake Chemical Partners LP's business, which is heavily influenced by its fee-based structure with the parent company, Westlake Corporation. The costs are primarily driven by the operations of the three ethylene production facilities that Westlake Chemical OpCo LP (OpCo) owns, which Westlake Chemical Partners LP holds a 22.8% interest in.

The structure of the ethylene sales agreement dictates that 95% of OpCo's production is sold to Westlake for a fixed cash margin, net of operating costs, maintenance capital expenditures and reserves for future turnaround expenditures. This means that many of the direct costs of production are passed through or accounted for before the margin is realized by Westlake Chemical Partners LP.

Here are the latest reported figures for key cost components from the 2025 reporting periods.

Cost Component (For the Period)	Q2 2025 (Three Months Ended June 30, 2025)	Q3 2025 (Three Months Ended September 30, 2025)
Cost of Sales (Proxy for Operating Costs)	$182,936 thousand	$209,475 thousand
Selling, General and Administrative Expenses (G&A)	$6,300 thousand	$7,444 thousand
OpCo Capital Expenditures (Total)	$24 million	$30 million

Maintenance capital expenditures were definitely a cost factor impacting cash flow in the first half of 2025. The planned turnaround at the Petro 1 ethylene unit in Lake Charles, Louisiana, was the main driver for these higher maintenance CapEx figures.

• The decrease in MLP distributable cash flow for Q1 2025 compared to Q4 2024 was attributed to lower volume and higher maintenance capital expenditures due to the Petro 1 turnaround.
• Distributable cash flow for Q2 2025 compared to Q2 2024 also decreased primarily due to higher maintenance capital expenditures related to the Petro 1 turnaround.
• Similarly, the decrease in Q3 2025 distributable cash flow versus Q3 2024 was due to higher maintenance capital expenditures from timing changes in 2025 maintenance activities.

Regarding the debt structure, Westlake Chemical Partners LP maintained its long-term debt level at $400 million at the end of the third quarter of 2025. This debt is split, with $377 million at the Partnership level and $23 million at OpCo. Specific interest expense for Westlake Chemical Partners LP related to this $400 million debt for the 2025 periods isn't explicitly broken out in the provided data, but for context, Westlake Corporation expected its cash interest expense for the full year of 2025 to be approximately $160 million.

The general and administrative costs for the MLP structure, represented by Selling, General and Administrative Expenses, show a slight increase quarter-over-quarter for the periods reported:

• Q2 2025 SG&A was $6,300 thousand.
• Q3 2025 SG&A rose to $7,444 thousand.

To be fair, the Q3 2025 figure is higher than the Q2 figure, but both are below the full year 2024 SG&A of $28,495 thousand.

Westlake Chemical Partners LP (WLKP) - Canvas Business Model: Revenue Streams

The revenue streams for Westlake Chemical Partners LP are heavily anchored to its long-term contractual relationship with its parent, Westlake Corporation, providing a degree of revenue predictability.

The total revenue for the last twelve months ending Q3 2025 was reported at $1.13 billion.

The revenue generation for the third quarter of 2025 can be broken down by customer source, showing the reliance on the primary agreement:

Revenue Component	Q3 2025 Amount (in thousands of dollars)
Net sales Westlake Corporation	$276,539
Net co-products, ethylene & other third parties	$32.4 million
Total Net Sales (Q3 2025)	$308.9 million

A core element of the revenue stability comes from the Ethylene Sales Agreement (ESA) with Westlake Corporation, which was renewed through the end of 2027. This agreement dictates that 95% of OpCo's ethylene production is sold to Westlake for a specified $0.10/lb cash margin, net of operating costs, maintenance capital expenditures, and reserves for future turnaround expenditures.

Key financial performance and distribution metrics for the third quarter of 2025 include:

• Net income attributable to the Partnership of $14.7 million in Q3 2025.
• Quarterly distribution declared of $0.4714 per unit for Q3 2025.
• Distributable cash flow for the quarter was $15 million, or $0.42 per unit.
• The distribution marks the 45th consecutive quarterly payout to unitholders.