France's Arkema Q3 net income down 44% partly on one-off charges

07 November 2013 06:46  [Source: ICIS news]

SINGAPORE (ICIS)--Arkema’s net income fell by 44% year on year to €65m ($88m) in the  third quarter of this year, weighed partly by one-off charges, the French specialty chemicals firm said on Thursday.

The company’s net sales fell by 6.9% year on year to €1.50bn in July-September this year, while its earnings before interest, tax, depreciation and amortisation (EBITDA) was down by 12.4% at €233m, the company said in a statement.

Arkema posted non-recurring charges of €37m in the third quarter which “correspond to restructuring charges and write-off recorded following the announcement of the proposed shutdown of the Chauny site in France”, it said.

“The fourth  quarter will reflect the traditional year-end seasonality,” the company said, adding that it targets a full-year 2013 EBITDA of around €920m.

($1 = €0.74)

By: Nurluqman Suratman

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