Arkema reports group sales up 25 percent for 2021

Paris, France – Arkema reported group sales of €9.5 billion, up by 25.9% compared with 2020 at constant scope and currency:
Growth in volumes of +7.3%, driven notably by robust demand for sustainable solutions with high technological content, particularly in batteries, 3D printing, consumer goods and more environmentally friendly paints; Increase in selling prices of 18.6% over the year, reflecting the Group’s initiatives to offset strong raw materials and energy inflation, an improved product mix, as well as a the tightness of upstream acrylics; EBITDA at historic high of €1,727 million, up by 46.1%, compared with 2020, and EBITDA margin of 18.1%, in an environment marked by operational disruptions and high raw materials and energy costs:
Excellent performance of Specialty Materials, up strongly in each of the segments, with EBITDA of €1,503 million (€1,018 million in 2020) and EBITDA margin of 18.5%.

Increase in EBITDA of the Intermediates segment (€316 million vs. €231 million in 2020), driven by favorable conditions in the acrylics market in Asia and despite the negative scope effect related to the PMMA and Functional Polyolefins divestments: Adjusted net income multiplied by 2.3 to €896 million, representing €11.88 per share (€5.11 in 2020); Recurring cash flow stable at €756 million (€762 million in 2020) and net debt down sharply to €1,177 million, including €700 million in hybrid bonds (net debt of €1,910 million at end-2020), representing 0.7x 2021 EBITDA; Proposed dividend of €3.0 per share (€2.5 in 2020).

Following Arkema’s Board of Directors’ meeting, held on 23 February 2022 to approve the Group’s consolidated financial statements for 2021, Chairman and CEO Thierry Le Hénaff said, “I would particularly like to thank Arkema’s employees, who thanks to their commitment and initiatives, enabled the Group to reach an excellent financial performance in 2021 in a demanding operating context, and successfully complete a number of important organic growth and portfolio management projects. Arkema’s growth was driven by increasingly strong demand for high performance solutions that address challenges arising from sustainable megatrends.

Moreover, our strategy goes hand in hand with demanding CSR commitments which are rooted in the company’s values. After a year marked by Arkema’s inclusion in the CAC 40 ESG index and the third place achieved in the ‘Chemicals’ category of the DJSI World index, we are happy to have been certified as a Top Employer 2022 in four countries, which account for two-thirds of our employees and recruitments worldwide.

2022 will mark another important step forward in our ambition to become a pure Specialty Materials player. The acquisition of Ashland’s adhesives business is expected to close shortly, and will be followed by the start-up of our two major projects, namely, the bio-based polyamide 11 plant in Singapore and the production of hydrofluoric acid in the United States. Moreover, we have never identified so many innovation opportunities in areas with high technological content. Thanks to our geographic positioning, the intimacy developed with our customers and our unique expertise centered around materials science, I believe Arkema is very well positioned to seize these opportunities.”