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    Breaking News

    Arkema Reports Full-year 2020 Results

    "2020 was ultimately a year of major qualitative progress for Arkema," Chairman and CEO Thierry Le Hénaff said.

    Arkema Reports Full-year 2020 Results
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    02.25.21

    Arkema released its full-year 2020 results.

     

    The group’s EBITDA margin remained robust at 15%, supported by the resilience of its Specialty Materials and by the rebound in volumes in the fourth quarter (+5% vs Q4’19).

     

    Arkema said it is well-positioned to take advantage of the recovery in 2021 and beyond, thanks to the benefits of its strong balance sheet and its focus on sustainable and high-performance Specialty Materials.

    • Rebound in the Group’s performance in the fourth quarter
      • Sales growth of 2.1% at constant scope and currency, driven by a significant improvement in volumes (+5.2% vs Q4’19);
      • Continued positive momentum in construction, decorative paints and batteries, and recovery seen in several industrial markets;
      • EBITDA broadly stable at €289 million (€295 million in Q4’19), supported by the strong increase of Adhesive Solutions (+15%) and Coating Solutions (+19%);
    • €7.9 billion in sales in 2020, representing a limited decline of 8% year on year at constant currency, reflecting the impact of the pandemic on global demand;
    • EBITDA in 2020 of €1,182 million (-18.9%) and EBITDA margin of 15%. Good resilience of Specialty Materials (12% decrease in EBITDA and a 100 bp contraction in EBITDA margin to 15.8%);
    • Adjusted net income of €391 million in 2020, representing €5.11 per share;
    • High free cash flow for the year at €651 million, comparable to the level achieved in 2019, reflecting excellent management of working capital (11.8% of sales at Dec. 31, 2020) and strict control of capital expenditure;
    • Net debt down strongly at €1,910 million including hybrid bonds (€2,331 million at Dec. 31, 2019), representing 1.6x EBITDA for 2020

    “Last year we faced the challenging context of the pandemic and first and foremost, I would like to thank the responsiveness and mobilization of our employees across the world. Their unwavering commitment, as well as Arkema’s geographic and technological positioning, enabled the Group to deliver a robust financial performance in 2020, be highly efficient in managing operations to quickly adapt to the context, record a strong rebound in sales and earnings in the fourth quarter, and look confidently ahead to 2021," Chairman and CEO Thierry Le Hénaff said.
     
    "2020 was ultimately a year of major qualitative progress for Arkema. Progress in refocusing the Group’s profile toward Specialty Materials with the divestment of Functional Polyolefins to SK and the proposed divestment of PMMA to Trinseo. Progress in our innovation programs, in particular with the acceleration in our high-performance adhesives, cutting-edge solutions for mobility and natural resources management. Progress in CSR with the admission to the DJSI World index, the strengthening of our environmental and diversity targets, and the continued assessment of our solutions portfolio based on sustainability criteria," he continued. 
     
    "Despite the ongoing uncertainty of the health context, 2021 should be a year of good growth for Arkema. In addition, we will continue to accelerate our high value-added developments in the 3 segments, Adhesive Solutions, Coating Solutions and Advanced Materials, as well as the execution of our strongly value-creative strategy to refocus entirely on Specialty Materials," he concluded.
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