Arkema Sees 30% Group Sales Increase in 2022 First Quarter
Arkema recently announced details regarding its financial performance in the first quarter of 2022. Group sales rose by 29.7% compared to the 2021 quarter, to almost €2.9 billion (approximately $3 billion). Up against a high comparison base, volumes were down by 2.2%, impacted by logistics disruptions in Europe and the U.S. and the shortage of certain raw materials, particularly in the Adhesive Solutions segment.
While underlying demand remained fairly well-oriented in most of the group’s end markets and regions, a slowdown was nevertheless observed in China at the end of the quarter due to COVID-related lockdowns, as well as in construction in Europe. The 31.5% positive price effect reflects in particular Arkema’s ability to pass on in its Specialty Materials selling prices the very high inflation in raw materials, energy, and transportation costs, as well as better conditions in upstream acrylics.