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    Breaking News

    Arkema Releases Second-quarter 2021 Results

    Arkema had group sales of €2.4 billion.

    07.29.21
    Arkema recorded earnings growth in the second quarter, notably with EBITDA up 67% compared to 2020 and above the pre-crisis level of 2019.
    This performance was driven by Specialty Materials which benefited from strong demand for innovative, sustainable materials and from its unique positioning to support global megatrends.

    In this context, and in light of the quality of the performance achieved in the first half of the year, Arkema is once again significantly increasing its financial targets for 2021.
    • Group sales of €2.4 billion, up 34.6% versus 2020 and up 12.1% versus 2019 at constant scope and currency:
    • Significant growth in volumes (+17.1% vs. Q2’20 and +3.0% vs. Q2’19), driven by high demand in most end markets and the strong dynamic of new developments
    • 17.5% increase in selling prices on average compared to the prior year, reflecting the Group’s ability to offset the very marked rise in raw materials and energy costs
    • Sharp acceleration in the benefits of sustainable innovation, particularly in the fast-growing batteries, bio-based materials, 3D printing, electronics and environmentally friendly paints markets
    • EBITDA of €478 million, up 67.1% compared to Q2’20, and a historically high EBITDA margin of 20.0%:
    • Strong growth in the three segments that constitute Specialty Materials, which recorded EBITDA of €417 million, up nearly 80% versus Q2’20 and 37% versus the pre-Covid reference of Q2’19
    • Intermediates’ EBITDA of €87 million, up 31.8% despite a negative scope effect related to the PMMA divestment on 3 May 2021, benefiting from more favorable market conditions than in the prior year, which was marked by the health crisis
    • Adjusted net income up almost threefold to €267 million, representing €3.50 per share
    • Net debt of €1.28 billion (including €700 million in hybrid bonds), representing 0.9x last-twelve-months EBITDA and including €1.1 billion in gross proceeds from the PMMA divestment, €191 million in dividend payments and a €300 million commitment relating to the share buyback program launched at the end of May
    • Continuation of the strategy to refocus on Specialty Materials, with the finalization of the PMMA divestment and the acquisitions of Edge Adhesives and Agiplast
    • Full-year guidance significantly raised; for 2021, Arkema is now targeting around 30% growth in Specialty Materials’ EBITDA relative to 2020 at constant scope and currency, which would result in Group EBITDA of around €1.4 billion, excluding a systemic resumption of the health crisis
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