In second quarter 2023 financial results, Arkema reported net sales of €2.4 billion, down by 23% compared to second quarter of last year. Volumes were down significantly, impacted by overall weak demand in most end markets and continued destocking. However, automotive, battery, and energy markets remained consistent. The company reported adjusted net income of €207 million, representing €2.77 per share, compared to €5.99 per share in the second quarter of 2022. 

Chairman and CEO of Arkema, Thierry Le Hénaff commented, “In the second quarter, in an environment marked by a low level of activity in the continuity of the first quarter, Arkema’s performance was solid, reflecting the Group’s excellent positioning in high performance niche markets, as well as tight management of our operations. The teams delivered high-quality work, enabling us to confirm our annual targets in a macroeconomic context with low visibility that is showing little signs of improvement.

“In addition, with the proposed acquisition of 54% of PI Advanced Materials announced in late June, Arkema has taken another major step towards its ambition of becoming a world leader in Specialty Materials. This unique opportunity, which will offer the Group significant synergies thanks to strong geographical and technological complementarities, will enable us to accelerate our growth in the highly attractive electronics and battery markets.

“Our Capital Markets Day, to be held in Paris on 27 September, will provide an opportunity to discuss Arkema’s innovation strategy and medium-term ambition in greater detail.”

In the outlook for the rest of 2023, volumes seem to remain sharply lower than last year, but the price of certain raw materials and energy continues to decrease. In this context, Arkema hopes to continue to tightly manage its operations by controlling fixed costs and optimizing working capital. It will also continue its innovation drive in high-growth areas linked to sustainability and ramp up recently started growth capital expenditure projects. The company confirmed its 2023 guidance, and aims to achieve EBITDA of around €1.5 billion to €1.6 billion. 

To learn more, visit