Arkema Sa · EURONEXT:AKE
Arkema Sa — Q1 2015 Earnings Presentation
12 slides from Arkema Sa's earnings presentation, May 6, 2015
Slide 1: 1st quarter 2015 results
1st quarter 2015 results 6 May 2015
Slide 2: 1Q'15 highlights
1Q’15 highlights €1,871m sales ● Up +23% YoY ● Including Bostik’s contribution: €272m sales €237m EBITDA Up +18% versus 1Q’14 ● EBITDA up YoY excluding the effect of Bostik acquisition ● Benefits from favorable currencies ● Bostik’s performance up YoY, in line with announced targets ● Low cycle cond
Slide 3: Promising integration of Bostik
Promising integration of Bostik Acquisition finalized on 2 February 2015 2-month contribution ● € 272m sales ● Performance up YoY in line with announced targets and Group’s expectations Integration well on track supported by strong alignment of teams and disciplined organization of synergy groups Ma
Slide 4: Other highlights since 1 January 2015
Other highlights since 1 January 2015 M&A • Sunke: extension until January 2016 of the period to exercise the option to increase stake in Sunke and access a total of 320 kt/year acrylic acid • JV operated jointly by the partners and production adjusted to market conditions • Financial terms of initi
Slide 5: 1Q'15 key figures
1Q’15 key figures In €m (except EPS) 1Q’14* 1Q’15 variation Sales 1,523 1,871 +22.8% EBITDA 201 237 +17.9% EBITDA margin 13.2% 12.7% Recurring operating income 123 133 +8.1% Adjusted net income 76 57 (25.0)% Net income (Group share) 65 42 (35.4)% Adjusted EPS** (euro) 1.17 0.78 (33.3)% * Restated fi
Slide 6: Sales bridge
Sales bridge Sales Scope (€m) Volumes Price of business Currency +8.6% 1,871 +19.9% 1,523 (2.5)% (3.1)% ● -2.0% excluding ● Mainly in Acrylics ● Bostik acquisition ● Favorable euro / the impact of the US dollar FX rate shutdown of ● Acquisition of a Chauny (Fr) activity stake in Sunke in Acrylics in
Slide 7: High Performance Materials
High Performance Materials In €m 1Q’14* 1Q’15 variation Sales 474 763 +61.0% Volumes (2.2)% EBITDA 79 111 +40.5% Prices (0.7)% EBITDA margin 16.7% 14.5% Currency +6.7% Recurring operating income 53 74 +39.6% Scope +57.2% % of segment 1Q’15 sales Filtration & Bostik Technical Polymers Adsorption Orga
Slide 8: Industrial Specialties
Industrial Specialties In €m 1Q’14* 1Q’15 variation Sales 496 550 +10.9% Volumes (1.3)% EBITDA 67 84 +25.4% Prices +1.8% EBITDA margin 13.5% 15.3% Currency +9.5% Recurring operating income 38 47 +23.7% Scope +0.8% % of segment 1Q’15 sales Thiochemicals Fluorogases PMMA H2O2 31% 29% 24% 33% 12% • Str
Slide 9: Coating Solutions
Coating Solutions In €m 1Q’14* 1Q’15 variation Sales 547 551 +0.7% Volumes (4.0)%** EBITDA 70 62 (11.4)% Prices (9.6)% EBITDA margin 12.8% 11.3% Currency +9.6% Recurring operating income 47 32 (31.9)% Scope +4.9% % of segment 1Q’15 sales Acrylics (acid + esters) Coating Resins Coatex Sartomer 39% 39
Slide 10: 1Q'15 cash flow
1Q’15 cash flow In €m Q1’15 EBITDA 237 Working capital variation* (142) Usual seasonality of working capital Taxes (47) Cost of debt (18) 2015e capex: ~ €450m • Computed with the 1.25 €/US$ rate used for the budget Capex** (61) • Will need to be adjusted depending on currency variations • 10-cent va
Slide 11: 2015 outlook
2015 outlook Macro-economic assumptions ● Market conditions expected to remain volatile and contrasted with different dynamics depending on geographic regions and product lines ● Trends in FX rates (mainly US$/€) expected to remain favorable offsetting, at least, low-cycle unit margins in acrylic mo
Slide 12: Disclaimer
Disclaimer The information disclosed in this document may contain forward-looking statements with respect to the financial condition, results of operations, business and strategy of Arkema. Such statements are based on management’s current views and assumptions that could ultimately prove inaccurate