In 2019, Arkema achieved a high-level financial performance driven by specialty businesses in an increasingly challenging economic context. The Group generated a record amount of cash whilst maintaining an ambitious level of investments for its future growth<\/p>\n
\u00b7 \u20ac8.7 billion in sales, close to last year\u2019s level (\u20ac8.8 billion)
\n\u00b7 \u20ac1,457 million EBITDA, comparable (-1.2%) with the 2018 record level, and EBITDA margin of 16.7%, stable at a high level
\n\u00b7 4Q EBITDA up 3% year on year to \u20ac295 million
\n\u00b7 Adjusted net income of \u20ac625 million, representing \u20ac8.20 per share
\n\u00b7 Strong increase in free cash flow to \u20ac667 million, representing an excellent EBITDA to cash conversion rate of 52% (38% in 2018)
\n\u00b7 Net debt (excluding the hybrid bonds) under control at \u20ac1.6 billion, or 1.1x 2019 EBITDA
\n\u00b7 Further increase in the proposed dividend, up 8% to \u20ac2.70 per share, reflecting the company’s strong confidence and potential in its long-term strategy<\/p>\n
Arkema\u2019s Board of Directors met on 26 February 2020 to approve the Group’s consolidated financial statements for 2019. Commenting on the year\u2019s results, Chairman and CEO Thierry Le H\u00e9naff highlighted the following points:<\/p>\n
\u201cAfter a record year in 2018, we experienced a more difficult economic climate in 2019, marked by downturns in some markets, such as the automotive and electronics sectors, as well as a general lack of visibility. In this context, the Group\u2019s performance remained at a high level and its resilience compared favorably with the sector average. I would like to sincerely thank all our employees for their efforts and their ongoing commitment.<\/p>\n
Beyond those very solid financial results, the Group continued its strategy of strengthening its specialty (1) businesses by carrying out high-quality bolt-on acquisitions and capacity increases for high value-added products, and stepping up its innovation drive in High Performance Materials. The Group has also recently defined an ambitious climate plan to contain global warning to well below 2\u00b0C.\u201d<\/p>\n
OUTLOOK FOR 2020<\/p>\n
In 2020, in an economic environment that is likely to remain volatile, Arkema aims to achieve an EBITDA comparable with the 2019 level, excluding the impact of Covid-19. For the full year, the Group\u2019s results should be driven by EBITDA growth of around 10% for Bostik, whilst Advanced Materials should be broadly stable and Fluorogases should decline. The contribution between the two halves should be more balanced than last year. Uncertainty persists concerning the evolution of Covid-19. The Group estimates its impact on EBITDA at the end of February at around \u20ac20 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
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