First quarter 2017 results
- €2,152 million sales, +13,7% up, driven by volumes and prices in all three business divisions
- Historical high for a quarter with €355 million EBITDA (+17.5% compared to Q1 2016)
- 16.5% EBITDA margin (16.0% in Q1 2016) supported by all three business divisions
- Adjusted net income +39% up to €147 million, i.e. €1.94 per share
- Net debt stable compared to 31 December 2016 at €1,496 million despite the usual strong seasonality of working capital
The Board of Directors of Arkema met on 3 May 2017 to review the Group’s consolidated accounts for 1st quarter 2017. At the close of the meeting, Chairman and CEO Thierry Le Hénaff stated:
“In the last few years, the roll-out of our strategy and the continued commitment of our 20,000 employees enabled us to create a much more profitable, growing and highly innovative group.
The results of the 1st quarter 2017 reflect this transformation. Arkema achieved an excellent start to the year with a 14% growth in sales and the highest ever EBITDA in our history for a quarter.
We benefited in particular from robust demand in most of our main markets, from Bostik’s ongoing growth reinforced by the recent integration of Den Braven, from the success of our technological innovation in advanced materials, and from a more positive dynamic in acrylics.
In a global economic context that remains volatile, we will continue to rely on our many growth catalysts, adapt our pricing policy to an environment of rising raw material prices, and aim for excellence in the way we operate.
The beginning of this year gives us full confidence in our ability to achieve the objective we set ourselves for 2017.”
In the continuity of the previous quarters, the global macro-economic environment should remain volatile with contrasted dynamics by end-markets and by region, and with higher costs of energy and raw materials than last year.
In this context, Arkema will continue in particular to benefit from Bostik positive momentum and Den Braven integration, from innovation in high performance materials and downstream acrylics, and from its recovery plan in Fluorogases. The Group will ensure that the higher cost of raw materials is reflected in its selling prices. Finally, it will continue its operational excellence initiatives to offset part of fixed cost inflation.
The very good performance achieved in 1st quarter in a context of rising raw materials fully supports Arkema’s ambitious objective to achieve €1.3 billion EBITDA in 2017.
A Capital Markets Day will be held on 10 and 11 July 2017, in France, at Bostik research and development center, near Paris, when the Group will give a more detailed presentation of its longer-term prospects and its strategy.
|23 May 2017||Shareholders Annual General Meeting|
|2 August 2017||1st half 2017 results|
|9 November 2017||3rd quarter 2017 results|