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Arkema 2019 second quarter financial report

Arkema 2019 second quarter financial report

August 9, 2019

-- sales close to last year's level, at 2.254 billion euros (2.27 billion euros in the second quarter of 2018)

-- in a more challenging macroeconomic environment, compared with the record level in the second quarter of 2018 (430million euros), EBITDA showed good toughness, € 407million

-- the EBITDA margin was very robust, at 18.1%

-- the adjusted net income reached € 192million, equivalent to 8.5% of sales

-- the cash generating capacity was very strong, the free cash flow increased to € 90million (the second quarter of 2018 was € 41million)

-- the net debt was € 1308million, including € 190million in dividend payment, equivalent to 90% of the EBITDA in the past 12 months. In addition, it includes € 400million hybrid bonds refinanced under favorable conditions

-- continue to strengthen the business unit of high-performance materials, acquire arrmaz (announced in May, 2019), prochimir and lambson (20 in July, 19 on the technology of the utilization range of experimental machines), and expand sadoma's production capacity in China to meet the needs of the electronic and 3D printing market (April, 2019)

arkema chairman and chief executive officer

on July 31, 2019, Arkema convened the board of directors, Settle the consolidated financial statements of the group in the first half of 2019. For this performance and performance, Thierry Le h é naff, chairman and CEO of akoma group, emphasized the following points:

"In the second quarter, Arkema continued to show good resilience despite the still turbulent and complex environment and the weakness of some end markets. Our performance was close to last year's record high, especially due to the very stable performance of the special products business. Our team made up for the impact of the decline in sales by providing support for the excellent work in the price and profit margin side 2 and the protection and maintenance of the bellows ring stiffness testing machine. Glue The adhesive business continues to make significant progress, which is consistent with our ambitious goals in this business. In addition, we continue to generate high levels of cash flow

in the past few months, we have also continued to implement the long-term strategy focusing on three pillars, including organic projects with strong profitability, customer support through innovation and reinforcement acquisitions that generate high-level synergy. Through the acquisition of arrmaz, prochimir and lambson, the share of special products in our product portfolio has been significantly increased, which also demonstrates our ability to seize opportunities and acquire cutting-edge technologies in attractive but fragmented markets

in the face of such achievements and dynamic projects, while maintaining attention to the economic environment, we are confident to create another good year and continue to devote ourselves to the transformation of akoma. "

outlook 2019

in the second half of this year, it is expected that the macroeconomic environment will continue to be volatile and complex, showing geopolitical instability, which will affect global demand and lead to fluctuations in raw materials. However, the inventory adjustment in some end markets we observed in the first half of the year is expected to be eased. In this context, Arkema will continue to focus on the internal driving forces and the implementation of long-term strategies

therefore, the group will continue to carry out its industrial projects, enhance the innovation power of sustainable development and mobile, and promote target acquisitions. In the second half of the year, the group will particularly benefit from the launch of some industrial projects, including the sadomar resin project in Asia, the technical polymer project in France and the acrylic acid project in the United States. The group will also get help from the acquisition projects, including the acquisition of arr, including Mitsui chemical, Xinyue chemical, Mitsubishi plastics, Toray, Sumitomo chemical, Sailu and other maz completed on July 1, and the acquisition of Shengke to be completed in the third quarter of this year. The group will also continue to implement its operational excellence program and implement the policy of selectively raising sales prices when oil prices are still high

while focusing on the macro-economic development of its advantages and disadvantages, Arkema confirmed its ambitious goal, that is, to consolidate its financial performance at a high level and achieve the EBITDA equivalent to the record level in 2018 in 2019

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