Home / Knowledge / News / Textiles / Good performance of Industrial Chemicals at Arkema

Good performance of Industrial Chemicals at Arkema

10
May '12
The Board of Directors of Arkema met on May 9th 2012 to review the consolidated accounts of Arkema for 1st quarter 2012.

At the end of the meeting, Thierry Le Hénaff, Chairman and CEO of Arkema, stated:

"First quarter results represent by far the second best performance recorded in a first quarter by our Group. They confirm the recovery of demand following the destocking seen in 2nd half 2011, even though not at the same level as at the beginning of 2011 when particularly favorable market conditions prevailed. The results of the Performance Products segment, with a 19% EBITDA margin, are a great satisfaction, reflecting the refocusing of this business segment on high added value technological niches such as specialty polyamides and fluorinated polymers.”

“Industrial Chemicals show a significant improvement compared to the last quarter of last year, albeit below the very high base of the same quarter in 2011, as expected. Despite the uncertainties of the general macro-economic environment, the fundamentals that drive Arkema's performance are favorable, in particular ongoing growth in emerging countries and as many opportunities as ever in the major trends related to sustainable development, in particular new energies, lighter vehicles, and biosourced materials.”

As a project to divest the Vinyl activities was ongoing at the close of this quarter, the contribution of this business has been presented in accordance with IFRS 5 rules and terms. Income statement items and balance sheet items for this business have been presented on a separate line in the income statement and the balance sheet. However, the cash flow statement includes flows related to these Vinyl activities.

Sales in 1st quarter 2012 increased by 14% to €1,623 million. This significant increase mainly reflects the acquisition of specialty resins (Sartomer and Cray Valley), alcoxylates from Seppic, and, to a lesser extent, Chinese companies Hipro Polymers and Casda Biomaterials (+17% scope of business effect).

Volumes decreased by 5% compared to 1st quarter 2011 which represented a very high basis of comparison marked by restocking in several product lines as well as exceptional growth in Asia.

By contrast, they significantly improved over 4th quarter 2011. Prices remained stable overall compared to 1st quarter 2011 in a context of high raw material costs. The currency translation effect was positive at +2%. EBITDA reached €253 million, close to the historical performance of 1st quarter 2011 (€289 million) and showing a significant increase compared to 4th quarter 2011 (€158 million).

This is by far the Group's second best performance for a 1st quarter. Market conditions improved noticeably compared to the end of last year, even if they cannot be compared to the particularly supportive environment of 1st quarter 2011.

Click here to read more details:

Arkema


Must ReadView All

Pic: Shutterstock

Apparel/Garments | On 5th Aug 2021

30-35% of Vietnam's textile-garment operations on hold due to COVID-19

Around 30-35 per cent of textile and garment factories in Vietnam...

Pic: Bolt Threads/Stella McCartney

Textiles | On 5th Aug 2021

Is faux leather good enough? Luxury fashion brands say yes

After fake fur, the luxury fashion industry has its eyes set on vegan ...

Pic: Shutterstock

Apparel/Garments | On 5th Aug 2021

Prime Content| Why China's share in global apparel exports will drop this year?

China's share in the global apparel exports market went down from...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Switch was not 100% pandemic related

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Textile Industry, Head honchos

Textile Industry
Head honchos

Multi-functional garments will be next big thing

Richard Armitage,

Richard Armitage

Adaptive Control automates, controls and monitors machines, systems and...

Seema Mishra,

Seema Mishra

Set up in January 2020 by <b>Seema Mishra</b>, the Kasrawad Art Cluster...

Susanna Koelblin,

Susanna Koelblin

Founded in 1920, Eastman is a global specialty materials company that...

Frank Heislitz, Freudenberg

Frank Heislitz
Freudenberg

Freudenberg Performance Materials is a leading global manufacturer of...

Daniel Kaye, RocketLife

Daniel Kaye
RocketLife

<div>RocketLife, an award-winning developer of breakthrough visual...

Silverio Baranzano, Fitesa

Silverio Baranzano
Fitesa

Fitesa is a leader in the nonwoven fabrics industry, specialising in...

Ruma Devi, Gramin Vikas Evam Chetna Sansthan

Ruma Devi
Gramin Vikas Evam Chetna Sansthan

<b>Ruma Devi i</b>s a jet-setting promoter of artisans who has empowered...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search