ARKEMA
Sales rise by 15% to EUR 1.72 bn in Q2 2012 / Operating profit near to record level in 2011 / EBITDA target close to EUR 1 bn for full year
French chemicals and plastics producer Arkema (Colombes / France; www.arkema.com) has posted a 5% year-on-year fall in operating profit (EBITDA) to EUR 306m in the second quarter of 2012, on sales up 15% at EUR 1.72 bn. In the first six months of 2012, operating profit fell by 8% to EUR 559m on sales up 15% at EUR 3.34 bn.
Q2 operating profit in the industrial chemicals segment, which includes the company’s acrylics business, fell to EUR 208m from EUR 226m in the same period in 2011. Sales in the period rose by 16% year-on-year to EUR 1.14 bn. This increase mainly reflects the contribution of specialty resins which joined the group on 1 July 2011. Volumes in industrial chemicals declined compared to the peak of Q2 2011, impacted by several maintenance turnarounds.
In the first half of 2012, the industrial chemicals segment saw a fall in operating profit to EUR 378m from EUR 453m in H1 2011. Sales in the period increased by 15% year-on-year to EUR 2.22 bn.
Q2 operating profit in the industrial chemicals segment, which includes the company’s acrylics business, fell to EUR 208m from EUR 226m in the same period in 2011. Sales in the period rose by 16% year-on-year to EUR 1.14 bn. This increase mainly reflects the contribution of specialty resins which joined the group on 1 July 2011. Volumes in industrial chemicals declined compared to the peak of Q2 2011, impacted by several maintenance turnarounds.
In the first half of 2012, the industrial chemicals segment saw a fall in operating profit to EUR 378m from EUR 453m in H1 2011. Sales in the period increased by 15% year-on-year to EUR 2.22 bn.
 Group CEO Thierry Le Hénaff has reason to be cautiously optimistic (Photo: Arkema) |
Operating profit in Q2 2012 in the performance products segment increased by 10% year-on-year to EUR 109m, reflecting the strategy of positioning the segment’s activities on high added value niche applications such as deep offshore oil exploration and biopolymers. Sales rose by 13% to EUR 572m. This improvement results mainly from acquisitions in alkoxylates and bio-sourced PA10. Volumes decreased slightly compared to the peak in Q2 2011.
Operating profit in the segment in the first six months of 2012 rose by 22% year-on-year to EUR 211m on sales up 13% at EUR 1.11 bn.
On 3 July 2012, Arkema completed the divestment of its vinyls business, which generated annual sales of EUR 1 bn – see Plasteurope.com of 06.07.2012.
Looking forward, Arkema said that while remaining cautious about changes in the macro-economic environment, and assuming continuity with the first half of the year, it was confident in its ability to deliver a very solid year in 2012, and should achieve an EBITDA close to EUR 1 bn. Further in the future, the company aims to achieve EUR 8 bn in sales and EUR 1.2 bn in operating profit by 2016.
Operating profit in the segment in the first six months of 2012 rose by 22% year-on-year to EUR 211m on sales up 13% at EUR 1.11 bn.
On 3 July 2012, Arkema completed the divestment of its vinyls business, which generated annual sales of EUR 1 bn – see Plasteurope.com of 06.07.2012.
Looking forward, Arkema said that while remaining cautious about changes in the macro-economic environment, and assuming continuity with the first half of the year, it was confident in its ability to deliver a very solid year in 2012, and should achieve an EBITDA close to EUR 1 bn. Further in the future, the company aims to achieve EUR 8 bn in sales and EUR 1.2 bn in operating profit by 2016.
27.08.2012 Plasteurope.com [223202-0]
Published on 27.08.2012
German version of this article...