08.12.16
The Board of Directors of Arkema met on August 2, 2016 to close the Group’s consolidated accounts for 1st half 2016.
At the close of the meeting, Chairman and CEO Thierry Le Hénaff stated: “Following a very good start to the year, the Group confirms in 2nd quarter its development momentum with satisfactory progress in volumes, a very good financial performance and a 17.5% EBITDA margin significantly up on last year.
These results reflect in particular the ongoing rapid ramp-up of Bostik with a profitability which further improves. The planned acquisition of Den Braven, announced in July, will reinforce this activity in the coming years and contribute to the strong growth ambition we have for our adhesives.
The many actions conducted by our teams have contributed to the high results achieved in almost all product lines. We are also proud of the growing successes of our innovation in new materials which allow us to support our customers, in particular in Technical Polymers.
Finally, we confirm the progress made over the last quarters in cash generation. For 2016 as a whole, even though we prefer to remain cautious about the global economic environment, the excellent first half of the year supports our confi dence in our ability to achieve a very good year.”
Highlights of this report include:
At the close of the meeting, Chairman and CEO Thierry Le Hénaff stated: “Following a very good start to the year, the Group confirms in 2nd quarter its development momentum with satisfactory progress in volumes, a very good financial performance and a 17.5% EBITDA margin significantly up on last year.
These results reflect in particular the ongoing rapid ramp-up of Bostik with a profitability which further improves. The planned acquisition of Den Braven, announced in July, will reinforce this activity in the coming years and contribute to the strong growth ambition we have for our adhesives.
The many actions conducted by our teams have contributed to the high results achieved in almost all product lines. We are also proud of the growing successes of our innovation in new materials which allow us to support our customers, in particular in Technical Polymers.
Finally, we confirm the progress made over the last quarters in cash generation. For 2016 as a whole, even though we prefer to remain cautious about the global economic environment, the excellent first half of the year supports our confi dence in our ability to achieve a very good year.”
Highlights of this report include:
- Strong EBITDA growth up 7% to €341 million (€320 million in 2Q 2015) driven by the three divisions and volumes 2.6% higher compared to 2Q 2015
- 17.5% EBITDA margin close to historic highs, supported by very high margins in High Performance Materials and Industrial Specialties
- €134 million adjusted net income 9% up on 2Q 2015 (+28% on first half of the year) and €1.79 adjusted net income per share
- Solid cash generation with +€77 million free cash flow and net debt overall stable at €1,406 million despite €143 million dividend payment
- 2016 outlook: Arkema now targets significant EBITDA growth of some 7% to 9% over the year compared to 2015