French speciality chemicals supplier Arkema SA has seen “very good performance” in its full year results for 2017, thanks to its Bostik adhesive business and demand for lighter materials.
Year-on-year earnings (EBITDA) was up 17% at €1.4bn on 10.5% higher sales at €8.3 billion, Arkema reported 22 Feb.
At €1.39bn, Arkema said EBITDA reached an “all-time high”, considerably higher than the company’s €1.3bn target in the medium-term financial targets set in 2014.
All three divisions reported earnings rises despite higher raw materials costs than in 2016.
Speaking at a meeting of Arkema board of directors, chairman and CEO Thierry Le Hénaff said the results reflected the “quality of our underlying strategy and the strength of the growth projects for our specialty businesses.”
The Arkema boss said the group’s innovations in advanced materials, and meeting high customer demand for lighter materials, new energies, 3D printing and consumer goods helped it achieve the results.
Additionally, Le Hénaff pointed out that the company’s Bostik adhesives business contributed to almost a quarter of overall sales, with its EBITDA up by more than 50% since it joined Arkema three years ago.