(PRESS RELEASE) PARIS, FRANCE — Arkema, a specialty-materials provider for the packaging industry, reported healthy earnings growth in the first quarter, driven by a rise in volumes of innovative and sustainable specialty materials as market conditions continued to improve.
Here are the highlights of the company’s first-quarter earnings report:
- Sales of €2.23 billion, up 12.7% versus Q1 2020 at constant scope and currency
- Increase in volumes (+7.7%), continuing rebound already observed in Q4 2020 (+5.2%)
- Momentum in most of the company’s end markets, and contribution of new developments driven by sustainable innovation
- EBITDA of €358 million, up sharply by almost 20% (€300 million in Q1 2020), and EBITDA margin of 16.1%
- Adjusted net income up 59% to €159 million, representing €2.08 per share
- Net debt at €2.0 billion (including €700 million in hybrid bonds), representing 1.6x LTM EBITDA
- 2021 guidance significantly raised, with the company now targeting about 20% growth in specialty materials EBITDA relative to 2020 at constant scope and currency (excluding a systemic resumption of the health crisis)
“The pace of activity accelerated in the first quarter in the context of better economic indicators,” says CEO Thierry Le Hénaff. “Our growth reflects first and foremost the strength of our innovation over the past few years to position our specialty materials in structural growth segments, along with positive momentum in most of our end markets and our balanced geographical footprint.”
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