Arkema's earnings and revenue rise

摘要

Arkema on Thursday reported a strong set of frst-quarter results and confrmed its aim to increase EBITDA in 2018. Adjusted net income was up 32.7% year on year (YOY) to ?195 million ($233.9 million) while operating income rose 15.7% to ?265 million. EBITDA in the quarter was up 7.9% to ?383 million and EBITDA margin advanced from 16.5% in the frst quarter of 2017 to 17.6% in the latest quarter. The increase was driven by the high-performance materials and industrial specialties divisions. Revenue, at ?2.17 billion, was 0.9% YOY higher. At constant exchange rates and business scope, sales were up 7.3%, driven by a 5.4% positive price efect that refects the ongoing policy of raising prices in the specialty businesses and market conditions in the intermediate chemicals businesses. High-performance materials made a large contribution to frst-quarter sales, rising 1.9% YOY with signifcant increase in volumes notably on the back of a strong quarter for specialty molecular sieves. In its full-year 2018 outlook, Arkema says that demand in the three main geographic regions should remain strong but business is likely to be impacted by the strong euro and higher raw materials costs than in 2017. Arkema says it will continue to pass on the rises in raw material costs. The company is in the process of expanding its manufacturing base with new capacities for thiochemicals, specialty nylons, and fuoropolymers at its Sartomer subsidiary. Arkema confrms its aim to increase its EBITDA in 2018 compared with 2017.