France's Arkema swings to Q4 net profit of €16m

28 February 2013 07:05  [Source: ICIS news]

SINGAPORE (ICIS)--Arkema said on Thursday it swung to a fourth-quarter net profit of €16m ($21m) in 2012, compared with a net loss of €463m in the same period a year earlier, boosted by contributions from its industrial chemicals, industrial specialties and coating solutions units.

The company’s sales rose by 3.4% year on year to €1.45bn in the three months to December last year, while earnings before interest, tax, depreciation and amortisation (EBITDA) was up by 8.2% at €171m, the French specialty chemicals maker said in a statement.

For the full year of 2012, the company’s group share net profit swung to a net profit of €220m, from a net loss of €19m a year earlier.

Its full-year sales were up by 8.4% year on year at €6.4bn, while EBITDA slipped by 3.7% to €996m.

Global market conditions are expected to “remain contrasted” in 2013, it said.

“They should be solid in North America, with a gradual recovery in decorative paints and should remain challenging in Europe. China should progressively return to higher growth levels,” the company added.

Raw material cost and exchange rates, in particular for the US dollar against the euro, should also remain volatile, the company added.

Arkema plans to spend about €500m on capital expenditures this year and will “continue to look for bolt-on acquisitions”.

The company aims to achieve €8bn in sales by 2016.

($1 = €0.76)

By: Nurluqman Suratman

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