The Group generated a record amount of cash whilst maintaining an ambitious level of investments for its future growth.
- 8.7 billion in sales, close to last year’s level (€8.8 billion);
- €1,457 million EBITDA, comparable (-1.2%) with the 2018 record level, and EBITDA margin of 16.7%, stable at a high level;
- 4Q EBITDA up 3% year on year to €295 million;
- Adjusted net income of €625 million, representing €8.20 per share;
- Strong increase in free cash flow to €667 million, representing an excellent EBITDA to cash conversion rate of 52% (38% in 2018);
- Net debt (excluding the hybrid bonds) under control at €1.6 billion, or 1.1x 2019 EBITDA;
- Further increase in the proposed dividend, up 8% to €2.70 per share, reflecting the company’s strong confidence and potential in its long-term strategy
Arkema’s Board of Directors met on Feb. 26, 2020, to approve the Group’s consolidated financial statements for 2019.
“After 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,” Chairman and CEO Thierry Le Hénaff said. “In this context, the Group’s 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.
Plastic News – 29 May
“Beyond those very solid financial results, the Group continued its strategy of strengthening its specialty 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 warming well below 2°C.”
Published on coatingsworld.com
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Good performance and good results, especially in the context of the economic situation for the chemical industry in 2019.