Arkema Full-Year Report 2023

Highlights

• Group sales of €9.5 billion, down 16.1% on 2022 at constant scope and currency:
  • Volumes down by 10.0%, reflecting the overall slowdown in demand and destocking, although volumes were slightly higher in the fourth quarter relative to last year
  • Positive dynamic in innovation-driven high performance solutions addressing sustainable megatrends
  • Negative price effect of 6.1% reflecting lower prices for certain raw materials and the progressive price normalization of PVDF and upstream acrylics, which had benefited from particularly favorable conditions in 2022
• EBITDA at €1,501 million, down compared with last year’s very high comparison base (€2,110 million), and solid EBITDA margin in this context of low demand at 15.8% (18.3% in 2022).Q4’23 EBITDA up by 14% year-on-year to €331 million (€291 million in Q4’22), driven by the good performance of Adhesive Solutions and the resilience of the other segments
• Adjusted net income of €653 million, representing €8.75 per share (€15.75 in 2022)
• Excellent recurring cash flow of €761 million, reflecting the strict management of working capital and tight control of capital expenditure, and net debt of €2,930 million at end-December, representing 1.95x full-year EBITDA
• Proposed dividend of €3.50 per share (€3.40 in 2022), in line with the policy of a gradual increase, and corresponding to a payout ratio of 40%