Arkema Full-Year 2022 results

27 February 2023
  • With sales of €11.5 bn, strong earnings growth in the year and excellent cash generation including the slowdown in demand in Q4
  • Acceleration of opportunities in innovative materials for sustainable development
  • Strengthening of the climate plan and further progress made in the CSR area
  • Group sales of €11.5bn, up by 21.3% compared with 2021:
  • Organic sales growth of 13.6%, reflecting price increases in the face of significant raw materials and energy cost inflation and the improved product mix, as well as the slowdown in demand and significant destocking observed in the fourth quarter
  • Acceleration in opportunities for innovative, high value-added solutions, particularly in low-carbon mobility, lightweighting, the circular economy and 3D printing
  • EBITDA at a historic high of €2,110M, up by a strong 22.2% year-on-year, and EBITDA margin at 18.3% (18.1% in 2021):
  • Outlook for 2023: in a context at the beginning of the year marked by a lack of visibility and ongoing weak demand, and in the expectation of a progressive improvement in the economic environment from the spring, the Group aims to achieve in 2023 an EBITDA of around €1.5bn to €1.6bn and maintain a high EBITDA to cash conversion rate of more than 40%.

Following Arkema’s Board of Directors’ meeting, held on 22 February 2023 to approve the Group’s consolidated financial statements for 2022, Chairman and CEO Thierry Le Hénaff said:

“Arkema achieved an excellent year in 2022 in many respects, first of all in terms of its financial performance, with EBITDA of over €2bn, reflecting the efforts of all our employees, whom I would like to thank for their commitment in a demanding environment. We also finalised a high-quality acquisition, with Ashland’s adhesives, and entered the start-up phase at our production site in Singapore for polyamide 11 and its monomer, thus strengthening the Group’s profile, resolutely focused on innovative materials. It is also a great source of pride for the teams to be recognised by rating agencies as one of the leaders in our industry in terms of CSR.

“2023 has begun in an economic context of weak demand, which requires us to be strict in managing our costs and working capital, while preparing for an improvement of the environment during the course of the second quarter. We have full confidence in the long-term prospects offered by our new developments focused on decarbonisation and sustainable development and we will continue to invest in these opportunities. We will leverage our cutting-edge innovation to continue to support our customers in their quest for sustainable performance.”

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