On the occasion of its participation in the Oddo Midcap Forum 2014, Arkema updates its full year 2013 EBITDA forecast (1).
At the end of the year, the Thiochemicals activity was affected by a longer than expected commissioning period for the new investments made in Lacq (France). The purpose of these investments was to adapt the production plants following the end of the operation of Total’s gas field, and secure the site’s activity over the next 30 years. Thiochemicals also had to deal with the failure of its power supplier at its Beaumont site (United States) which therefore declared force majeure at the end of the year.
These exceptional events, together with lower than anticipated Fluorogas volumes, will impact the 4th quarter 2013 EBITDA of the Industrial Specialties segment. The other two business segments will report performances fully in line with expectations. The performance of the High Performance Materials segment will show a very significant increase over 4th quarter 2012, while the performance of the Coating Solutions segment will be slightly up on 4th quarter 2012.
Accordingly, Arkema forecasts an EBITDA of around 900 million euros for the full year 2013 and an EBITDA margin of nearly 15% which demonstrate the Group’s resilience in the more challenging macro-environment of 2013. The Group’s targets for 2016 and 2020 remain unchanged.
Arkema will publish its 2013 final annual results on 4 March 2014.
(1) The figures herein currently constitute forecasts. They have not been taken from financial statements approved by the Board of Directors or from financial statements audited by the statutory auditors.
A global chemical company and France’s leading chemicals producer, Arkema is building the future of the chemical industry every day. Deploying a responsible, innovation-based approach, we produce state-of-the-art specialty chemicals that provide customers with practical solutions to such challenges as climate change, access to drinking water, the future of energy, fossil fuel preservation and the need for lighter materials. With operations in more than 40 countries, some 14,000 employees and 10 research centers, Arkema generates annual revenue of €6.4 billion, and holds leadership positions in all its markets with a portfolio of internationally recognized brands.