Q3 2024 Arkema SA Earnings Call Transcript
Key Points
- Arkema SA (ARKAF) achieved a solid sales growth of 2.9% year-on-year in Q3, driven by specialty materials in Asia and the US.
- The company increased its EBITDA by more than 5%, reaching an elevated EBITDA margin of 17%.
- Adhesive solutions delivered a strong quarter with a 9% EBITDA growth and a record high EBITDA margin of 15.7%.
- Advanced materials saw a significant 10% year-on-year EBITDA growth, driven by high-performance polymers.
- Arkema SA (ARKAF) has made significant progress on its CSR roadmap, reducing the carbon footprint of its bio-based polyamide 11 by 80% compared to fossil-based alternatives.
- The macroeconomic environment remains challenging with no signs of a rebound, particularly affecting the automotive sector in Europe.
- Volumes in intermediates were down due to quota enforcement in refrigerants in Europe and the US.
- Currency fluctuations had an adverse effect of 1.4% on sales, reflecting the depreciation of the US dollar and several Latin American currencies.
- The automotive sector, especially the EV market in Europe, is growing more slowly than expected.
- Arkema SA (ARKAF) expects to achieve 2024 EBITDA at the lower end of the guidance range due to the challenging macroeconomic environment.
Welcome to Arkema's third quarter 2024 results and outlook conference call. For your information, this call is being recorded. (Operator Instructions)
I will now hand you over to Thierry Le Henaff, Chairman and Chief Executive Officer. Sir, please go ahead.
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Thank you very much. Good morning, everybody. Welcome to Arkema's Q3 '24 results conference call.
With me today are, as usual, our CFO, Marie-José Donsion, and the Investor Relations team. To support this conference call, we have posted a set of slides which are available on our website. And as usual, I will start with some comments on the highlights of the quarter before letting Marie-José go through the financials. And at the end of the presentation, we'll be available to answer your questions.
So the macroeconomic conditions we encountered in the third quarter remain broadly in line with what has already been observed for several quarters, namely a continued soft demand in a global challenging
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