Arkema reported a 14.8% drop in net income from recurring operations to 138 million euros for the first quarter of 2024, or 1.84 euros per share, as well as a 4.6% decline in EBITDA to 350 million, representing an EBITDA margin slightly up by 0.5 points to 15%.

Sales fell by 7.3% to 2.34 billion euros, with a slight increase in volumes, but a negative price effect reflecting above all the fall in raw materials and still unfavorable market conditions in upstream acrylics and PVDF.

Arkema has focused on tightly managing its operations and making progress on its main ongoing projects, in order to reap the first benefits from spring onwards", says CEO Thierry Le Hénaff.

The chemicals group confirms its target EBITDA for 2024, estimated at between 1.5 and 1.7 billion euros, 'depending on the level of recovery in demand, and with a more weighted seasonality in the second half of the year'.

Copyright (c) 2024 CercleFinance.com. All rights reserved.