Arkema Shares Climb on Guidance Raise After 1Q Beat Views

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By Ed Frankl
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Arkema shares rose Thursday as the company raised its 2022 guidance after first-quarter results rose on year, despite high raw-material and energy-cost inflation.

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Shares in Paris were up 5.7% to EUR119.05 at 0745 GMT.

The specialty-chemicals company now expects full-year earnings before interest, taxes, depreciation, and amortization in both the entire group and its specialty-materials segment to be above those reported for 2021.

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Previously, Arkema anticipated 2022 Ebitda to be comparable in to last year’s.

First-quarter results beat expectations, with Ebitda rising 73% on year to EUR619 million and sales up 30% to EUR2.89 billion.

The company benefited from higher prices to offset currency effects and significant inflation on raw materials, energy and transportation costs.

Consensus expectations were for Ebitda of EUR477 million and EUR2.68 billion for sales, according to analysts’ estimates provided by the company.

Quarterly net profit more than doubled to EUR376 million, the Paris-based company said.
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Volumes, however, fell 2.2%, mainly hit by logistics disruptions and raw-materials shortages, Arkema said.

The company said it witnessed a slowdown in China at the end of the quarter due to pandemic-related lockdowns, as well as in construction in Europe.

“Despite the uncertainties currently weighing on global growth, this first quarter’s very good results make us confident in our ability to surpass in 2022 last year’s record results,” Chief Executive Thierry Le Henaff said.

Write to Ed Frankl at [email protected]


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