Friday, March 4, 2016

With Bostik, Arkema sees its future in pink – Les Echos

In May, Thierry Le Hénaff may celebrate with confidence the ten years of the introduction of Arkema Stock Exchange, the company of which he is CEO. “ 2015 was a record year in terms of results with a gross operating profit (EBITDA) to its highest level, despite the global context ,” has he congratulated Thursday morning presenting the annual results.

a new walking

After two difficult years, the chemicals group climbed a new step last year with the acquisition in February of specialist Bostik adhesives, for 1.7 billion euros. This has enabled it to increase its sales to 7.68 billion euros (+ 29%) and EBITDA to 1.06 billion (+ 35%). Net income group share his side surged 71% to 285 million. Thierry Le Hénaff stressed in particular the improved performance of Bostik, whose Ebitda grew 16% over the period, thanks to new developments, to lower costs, but also the first synergies with Arkema.

the new plant thiochemicals (sulfur chemistry) in Malaysia, which represented an investment of € 200 million – “ the biggest of Arkema history “- also contributed to the good results of the group, as well as the recovery in activity fluorinated gases. Only the acrylic acid (paints, water treatment) is always in trouble, “ but the low point was reached ,” said the CEO.

the goal of a perfect geographical balance

Arkema rose last year to its major objectives, including geographical diversification. While its leaders seek a balance “ perfect ” between Europe, North America and the rest of the world, from Europe fell for the first time below 40%: it represents 38% (57% in 2005), against 34% in America and 28% for the rest of the world (including 24% in Asia). Similarly, cyclical activities (acrylics, fluorinated gases, etc.) represent only 29% of sales, against 39% in 2014, thanks to Bostik.

The CEO showed great confidence on the result. “ We moved on to a new era of growth for the next ten years “, has he said, reaffirming its target for 2020: revenue of 10 billion euros and margin 17% (13.8% in 2015). Committed to a plan to sell $ 700 million in revenue over three years (2015-2017), of which 200 already recorded (Sunclear), Arkema does not rule out small acquisitions in particular in adhesives, Bostik to strengthen . The stock jumped 8.8% Thursday after these announcements, probably also supported by rising from 1.85 to 1.90 euro dividend

Anne Feitz

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