18 September 2012 14:23 [Source: ICIS news]
By Franco Capaldo
PARIS (ICIS)--Arkema has entered a new phase in its development since its 2006 spin off from energy major Total, CEO and chairman of the France-based chemical company Thierry Le Henaff said on Tuesday.
The group has seen a "rapid and deep transformation executed" and "is well positioned for future growth" following the creation of a global coating segment, the formation of a high value performance materials segment and the divestment of its vinyls business, Le Henaff said.
In 2005, the group's EBITDA was €355m ($467m). In 2012, it is expected to be around €1bn.
"The company is more focused, more profitable, more resilient," Le Henaff said at the group's investor day conference.
The CEO also pointed out that since its spin off, Arkema's shareholders have seen high returns.
On 18 May 2006, the group' share price was €27.5; on 13 September 2012, its share price stood at €72.6, an increase of 164%. The rise over this period is higher than LANXESS (+111%), BASF (105%) and Solvay (+1%), as well as being above the ?xml:namespace>
With its entry into a new phase of history, the company has also changed its corporate image and has a new signature 'Innovative Chemistry'.
Le Henaff said the new look "better reflects its strong positions in high value niches and its high quality innovation".
As part of its evolution, Arkema has also split its reporting segments into three parts - high performance materials, industrial specialties, and coatings solutions.
The high-performance materials segment, which currently accounts for 33% of sales, will include the group's production of specialty polyamides, flouropolymers and organic peroxides.
The industrial specialties business, which accounts for 33% of sales, will include thiochemicals, fluorogases, polymethyl methacrylate (PMMA) and hydrogen peroxide, while coatings solutions - which contributes 34% to total sales - includes acrylic monomers and coating resins.
"We are exactly where we want to be,” the CEO said. “From this position we can lay down our ambitions for the future."
Earlier, Le Henaff outlined Arkema’s strategy for future sales growth, reiterating its target of €8bn in 2016.
This would be achieved through a balance of organic growth and acquisitions, Le Henaff said, adding that the company would look to divest small non-core businesses.
The group will look to find a balanced geographical reach between Europe,
“We have strong confidence in our long-term potential,” Le Henaff said.
($1 = €0.76)
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