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(February 28, 2020, Shanghai, China/Colombet, France) Arkema achieved a high level of financial performance in 2019, driven by its Specialty Products business, amid increasingly challenging economic conditions
.
(February 28, 2020, Shanghai, China/Colombet, France) Arkema achieved a high level of financial performance in 2019, driven by its Specialty Products business, amid increasingly challenging economic conditions
.
Earnings before interest, tax, depreciation and amortization (EBITDA) of EUR 1,457 million, comparable to the record level in 2018 (down 1.
2%); EBITDA remained high at 16.
7%
Fourth-quarter EBITDA rose 3% year-on-year to EUR 295 million
Adjusted net income of EUR 625 million, corresponding to a value of EUR 8.
20 per share
Strong growth in free cash flow to EUR 667 million and an excellent EBITDA to cash conversion ratio of 52% (38% in 2018)
A manageable level of net debt (excluding hybrid bonds) of EUR 1.
6 billion is 1.
1 times 2019 earnings before interest, tax, depreciation and amortization (EBITDA)
Proposed dividend increased by a further 8% to EUR 2.
70 per share, reflecting the huge potential of the company's long-term strategy and its strong confidence
On February 26, 2020, Arkema convened its board of directors to approve the 2019 consolidated accounts and annual financial report of the group
.
“After a record 2018, we experienced a more difficult economic climate in 2019, manifested by downturns in certain markets, such as the automotive and electronics industries, and a general lack of visibility
.
In addition to delivering a very solid financial performance, the Group continues to implement its strategy to strengthen its specialty products (1) business through high-quality reinforcement acquisitions and capacity enhancements for high value-added products, while strengthening its innovation efforts in high-performance materials
.
(1) The Group differentiates between the intermediates business, the corresponding PMMA, fluorine gas and acrylic business lines, and the specialty products business
.
Outlook 2020
Outlook 2020In 2020, with the economic environment expected to remain volatile, Arkema aims to achieve earnings before interest, taxes, depreciation and amortization (EBITDA) comparable to 2019 levels, excluding the impact of the Covid-19 pandemic
.
Earnings Calendar
Earnings CalendarMay 06, 2020 Announcement of the first quarter financial report of 2020
May 19, 2020 Annual General Meeting of Shareholders
July 30, 2020 Announcement of the financial report for the first half of 2020
November 05, 2020 Announcement of financial results for the third quarter of 2020
As a designer of materials and innovative solutions, Arkema focuses on shaping new materials and innovative applications to help customers improve product performance
.
