Arkema has reported its full-year 2022 financial results. The company reports group sales of €11.5 billion (up by 21.3% compared with 2021), while organic sales reported growth of 13.6%. The growth reflected price increases in the face of significant raw materials and energy cost inflation and the improved product mix, as well as the slowdown in demand and significant destocking observed in the fourth quarter. The company identifies acceleration in opportunities for innovative, high value-added solutions, particularly in low-carbon mobility, lightweighting, the circular economy, and 3D printing.

Arkema’s EBITDA reported at a historic high of €2,110 million (up by 22.2% year-on-year), and EBITDA margin was 18.3% (18.1% in 2021). The company’s adjusted net income was up by 30.2% to €1,167 million, representing €15.75 per share (€11.88 in 2021). The company reported its cash flow at €933 million (€756 million in 2021), and a proposed dividend of €3.40 per share (€3.0 in 2021). The company reported continued progress in CSR performance, with in particular a 16% decrease in Scopes 1 and 2 greenhouse gas (GHG) emissions at constant perimeter and an increase in the share of women in senior management positions to 26% in 2022 (24% in 2021).

Sales in the Adhesive Solutions segment totaled €2,898 million (up by 27.2% compared with 2021). The 14.9% positive scope effect corresponds to the integration of Ashland’s adhesives and Permoseal, to a lesser extent. The segment’s organic growth reached 7%, and was reportedly, driven by a 14.8% positive price effect resulting from the segment’s policy of increasing selling prices in response to raw materials, energy, and transportation cost inflation. Volumes fell by 7.8%, affected in particular by the slowdown in the European construction market, reinforced by significant destocking in the second half of the year following the growth of this market since summer 2020. The currency effect was a positive 5.3%.

“Arkema achieved an excellent year in 2022 in many respects, first of all in terms of its financial performance, with EBITDA of over €2 billion, reflecting the efforts of all our employees, whom I would like to thank for their commitment in a demanding environment,” said Thierry Le Hénaff, Arkema chairman and CEO. “We also finalized a high-quality acquisition, with Ashland’s adhesives, and entered the start-up phase at our production site in Singapore for polyamide 11 and its monomer, thus strengthening the group’s profile, resolutely focused on innovative materials. It is also a great source of pride for the teams to be recognized by rating agencies as one of the leaders in our industry in terms of CSR.

“2023 has begun in an economic context of weak demand, which requires us to be strict in managing our costs and working capital, while preparing for an improvement of the environment during the course of the second quarter. We have full confidence in the long-term prospects offered by our new developments focused on decarbonization and sustainable development, and we will continue to invest in these opportunities. We will leverage our cutting-edge innovation to continue to support our customers in their quest for sustainable performance.”

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