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Chemicals producer Arkema posts near to stable Q3 sales
07
Nov '13
The Board of Directors of Arkema met on 6th November 2013 to close the Group’s consolidated accounts for 3rd quarter 2013.

THIRD QUARTER 2013 ACTIVITY

Sales in 3rd quarter 2013 stood at €1,495 million, close to 3rd quarter 2012 sales at constant scope of business and exchange rates. Volumes were up overall (+0.9%), sustained by the Coating Solutions segment which benefited from growth capex in North America in a favorably oriented market.

The -2.0% price / product mix effect primarily reflected a rise in raw material costs for acrylics, a decrease in price of certain fluorogases, and a less favorable product mix in High Performance Materials. The -2.5% scope of business effect corresponded to the divestment of the tin stabilizer business. The significant translation effect (-3.4%) was related to the sharp decrease of the US dollar and the yen vs the euro.

In a less favorable economic environment than last year, Arkema reported €233 million EBITDA against €266 million in 3rd quarter 2012. The High Performance Materials segment achieved a good performance, albeit significantly down on 3rd quarter 2012 which represented a very high basis of comparison, sustained at the time by strong demand in the oil and gas and the photovoltaic markets.

The Coating Solutions segment confirmed its resilience despite a significant increase in the cost of raw materials. The Industrial Specialties segment was affected by challenging market conditions in fluorogases and PMMA in Europe. Finally, the strengthening of the euro relative to certain currencies, in particular the US dollar and the yen, impacted EBITDA with a -€9 million translation effect together with the transaction effect for a close amount. EBITDA margin reached 15.6%. This good level reflects the strong positions which Arkema has developed in specialty chemicals.

Recurring operating income stood at €154 million against €189 million in 3rd quarter 2012, following deduction of €79 million depreciation and amortization, slightly up on last year due to the startup of new capacities in the United States.

Non-recurring items stood at -€37 million. These mostly correspond to restructuring charges and write-off  recorded following the announcement of the proposed shutdown of the Chauny site in France.

Click here to read full results

Arkema

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