Colombes, France – In a context of clearly improving market conditions, the Arkema group reported strong earnings growth in the first quarter, driven in particular by a rise in volumes of innovative and sustainable specialty materials, which benefited from their unique positioning and cutting-edge innovation related to global megatrends. Given its confidence in its development dynamic, Arkema is significantly increasing its financial targets for 2021.
Arkema reported sales of €2.23 billion, up 12.7 percent versus the first quarter of 2020 at constant scope and currency. This is a significant increase in volumes (+7.7 percent), in the continuity of the rebound already observed in the fourth quarter of 2020 (+5.2 percent).
Following Arkema’s board of directors meeting, held on May 5 to review the group’s consolidated financial information for the first quarter of 2021, Chairman and CEO Thierry Le Hénaff said:
“The pace of activity accelerated in the first quarter in the context of better economic indicators. Our growth reflects first and foremost the strength of our innovation over the past few years to position our specialty materials in structural growth segments, along with positive momentum in most of our end markets and our balanced geographical footprint. While remaining attentive to the evolution of the health crisis and to the volatility of the environment, in light of our very good first quarter results and our development opportunities, the group is strongly raising its annual targets for specialty materials, which represent the essential part of our scope following the divestment of PMMA.
This year marks the start of a new era of growth for Arkema, consistent with the ambitions unveiled at our April 2020 Capital Markets Day. Supported by our teams’ strong commitment to the company’s strategy, we are accelerating our innovation projects and investments in promising high growth markets driven by sustainable megatrends, such as clean mobility, lightweight materials, 3D printing and energy efficiency.”