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Arkema Quarterly Information: 3rd Quarter 2013 Results



  Arkema Quarterly Information: 3rd Quarter 2013 Results

Solid Performance in 3^rd Quarter in a Less Favorable Environment Than Last
Year

Business Wire

COLOMBES, France -- November 7, 2013

Regulatory News:

Arkema (Paris:AKE):

  * €1,495 million sales, close to 3Q’12 at constant exchange rates and scope
    of business
  * €233 million EBITDA and 15.6% EBITDA margin

       * Gradual improvement in oil and gas and photovoltaic markets for High
         Performance Materials segment
       * Stability in Coating Solutions segment with marked improvement in
         volumes in North America
       * Industrial Specialties segment affected by more challenging market
         conditions in fluorogases and PMMA in Europe
       * Negative impact of the strengthening of the euro on the quarter’s
         performance

  * Net debt down to €1,033 million since 30^th June 2013
  * Ongoing targeted growth capex in emerging regions
  * Emphasis on competitiveness in Europe

The Board of Directors of Arkema met on 6^th November 2013 to close the
Group’s consolidated accounts for 3^rd quarter 2013. At the end of the
meeting, Thierry Le Hénaff, Chairman and CEO of Arkema, stated:

« In 3^rd quarter Arkema achieved a solid performance in a mixed economic
environment, in the continuity of 2^nd quarter. The strengthening of the euro
also impacted the Group’s results. However, market conditions appeared to have
stabilized, which could be a base for a gradual recovery in Europe next year.

The High Performance Materials segment reported a high margin in a less
supportive environment than last year. In 4^th quarter, EBITDA of this segment
should be above last year as expected. Despite the increase in raw material
costs, the Coating Solutions segment achieved a stable performance, sustained
by strong volumes in North America. The Industrial Specialties segment
continued to be affected by the weakness in fluorogases and PMMA in Europe.

Arkema actively continued to implement its strategy: strengthening in emerging
countries, targeted growth in the United States, innovation on sustainable
development megatrends, and emphasis on competitiveness. »

                                                                    
(In millions of euros)         3^rd quarter       3^rd quarter       Variation
                               2012               2013
Sales                          1,606              1,495              -6.9%
EBITDA                         266                233                -12.4%
EBITDA margin                  16.6%              15.6%
High Performance               19.5%              18.8%
Materials
Industrial Specialties         19.8%              16.1%
Coating Solutions              14.0%              13.8%               
Recurring operating            189                154                -18.5%
income
Non-recurring items            -                  (37)               n.a.
Adjusted net income*           123                101                -17.9%
Net income – Group share       116                65                 -44.0%
Diluted adjusted net           1.95               1.59               -18.5%
income per share* (in €)
                                                                      

* For Q3 2012, adjusted net income of continuing operations (excluding impact
of the vinyl products activities divested at beginning of July 2012)

THIRD QUARTER 2013 ACTIVITY

Sales in 3^rd quarter 2013 stood at €1,495 million, close to 3^rd quarter 2012
sales at constant scope of business and exchange rates. Volumes were up
overall (+0.9%), sustained by the Coating Solutions segment which benefited
from growth capex in North America in a favorably oriented market. The -2.0%
price / product mix effect primarily reflected a rise in raw material costs
for acrylics, a decrease in price of certain fluorogases, and a less favorable
product mix in High Performance Materials. The -2.5% scope of business effect
corresponded to the divestment of the tin stabilizer business. The significant
translation effect (-3.4%) was related to the sharp decrease of the US dollar
and the yen vs the euro.

In a less favorable economic environment than last year, Arkema reported
€233 million EBITDA against €266 million in 3^rd quarter 2012. The High
Performance Materials segment achieved a good performance, albeit
significantly down on 3^rd quarter 2012 which represented a very high basis of
comparison, sustained at the time by strong demand in the oil and gas and the
photovoltaic markets. The Coating Solutions segment confirmed its resilience
despite a significant increase in the cost of raw materials. The Industrial
Specialties segment was affected by challenging market conditions in
fluorogases and PMMA in Europe. Finally, the strengthening of the euro
relative to certain currencies, in particular the US dollar and the yen,
impacted EBITDA with a -€9 million translation effect together with the
transaction effect for a close amount.

EBITDA margin reached 15.6%. This good level reflects the strong positions
which Arkema has developed in specialty chemicals.

Recurring operating income stood at €154 million against €189 million in 3^rd
quarter 2012, following deduction of €79 million depreciation and
amortization, slightly up on last year due to the startup of new capacities in
the United States.

Non-recurring items stood at -€37 million. These mostly correspond to
restructuring charges and write-off recorded following the announcement of the
proposed shutdown of the Chauny site in France^1.

Financial result stood at -€13 million, close to 3^rd quarter 2012
(-€14 million).

Income taxes amounted to €40 million, i.e. 26% of recurring operating income.
This represents a significant improvement over 2^nd quarter which included
€3 million contribution due on the dividend paid in June 2013. It also
reflects the geographic breakdown of the results, with a significant part of
the Group’s results achieved in North America and a smaller part in Europe.

Given the non-recurring items accounted for in the quarter, net income Group
share stood at  €65 million against €116 million in 3^rd quarter 2012.
Excluding the impact of these non-recurring items, the adjusted net income
stood at €101 million, i.e. 6.8% of sales.

^1 The implementation of the project is subject to the legal information and
consultation process involving the staff representatives

SEGMENT PERFORMANCE IN 3^RD QUARTER 2013

HIGH PERFORMANCE MATERIALS

Sales in the High Performance Materials segment stood at €451 million against
€548 million in 3^rd quarter 2012. Half the drop in sales related to the
divestment of the tin stabilizer business completed on 1^st October 2012. The
oil and gas and photovoltaics markets, that are showing a slight sequential
improvement, remained down against the high level of last year, impacting both
volumes and prices. The translation effect was significant, accounting for -3%
of sales.

EBITDA stood at €85 million, and EBITDA margin remained high at close to 19%.
The impact of the divestment of the tin stabilizer business completed on 1^st
October 2012 accounted for some €3 million.

INDUSTRIAL SPECIALTIES

Performance of the Industrial Specialties segment in the quarter was affected
by challenging market conditions in fluorogases and PMMA in Europe.
Thiochemicals and hydrogen peroxide remained stable.

Sales reached €461 million against €496 million in 3^rd quarter 2012. Volumes
were stable overall in the segment, but the price effect was negative, mostly
reflecting a less favorable product mix and greater competitive pressure in
certain fluorogases. Furthermore, the decline of the dollar vs the euro led to
a -3% translation effect.

EBITDA stood at €74 million and EBITDA margin at 16.1% against €98 million 
and 19.8% respectively in 3^rd quarter 2012.

In Thiochemicals, major projects are underway. In France, the Lacq industrial
site started an 8-week turnaround in September with the aim to adapt the
production plants to the new gas extraction scheme in Lacq. This work is
intended to prolong the operation of the plants over the next 30 years. In
Malaysia, the construction of a new industrial platform associated with a new
bio-methionine plant set up by our partner CJ CheilJedang represents a
strategic step in the development of this activity. Mechanical completion is
scheduled for spring 2014 and startup of commercial production by mid-year.

COATING SOLUTIONS

Coating Solutions sales stood at €574 million, 3% up on 3^rd quarter 2012.
Volumes reported strong growth (+6%), sustained both by the development of
acrylic monomers and by the improvement in the paint markets in North America
and to a certain extent in Europe. Prices showed a slight increase. However,
as with the other two segments, the translation effect was significant and
accounted for -4% of sales.

EBITDA at €79 million and EBITDA margin at 13.8% were stable compared to 3^rd
quarter 2012 (€78 million  and 14.0% respectively). The growth in volumes
offset the negative impact of exchange rates and of the rise in raw material
costs.

Several projects are gathering momentum or about to be finalized across the
Group’s acrylic chain.

  * In acrylic monomers in the United States, the acrylic acid capacity
    extension at Clear Lake (Texas) came on stream successfully, and the
    methyl acrylate unit, which represents the last phase of the $110 million 
    investment plan should come on stream in the next few months.
  * In France, on the Carling site, the new Sumitomo Seika superabsorbent
    plant was inaugurated in October. The commissioning of this plant
    consolidates the production of acrylic acid on the site.
  * In downstream activities, the construction of a new coating resins
    production plant on the Changshu site in China is being finalized. Startup
    is expected by the end of the year.

CASH FLOW AND NET DEBT AT 30^TH SEPTEMBER 2013

In 3^rd quarter 2013, Arkema generated +€132 million free cash flow^2. This
includes a +€77 million decrease in working capital related to the traditional
seasonality of the activities. At end September, the working capital to sales
ratio stood at 17.4% (17.7% at end September 2012). Capital expenditure in the
quarter amounted to €97 million, in line with the annual target of
€500 million.

Net cash flow amounted to +€117 million. It includes a €13 million cash
outflow related to the commitments made to Kem One. This amount had been
booked in the Group’s accounts at end of 1^st quarter 2013.

Net debt stood at €1,033 million at 30^th September 2013 against
€1,150 million at 30^th June 2013, i.e. 44% gearing, close to last year’s
level (43%). The Group confirms its objective to bring gearing down to some
40% by year-end.

^2 Cash flow from operations and investments excluding the impact of portfolio
management.

OTHER HIGHLIGHTS SINCE 1^ST JULY 2013

ORGANIC GROWTH

On 4^th September 2013, Arkema announced the launch of the construction of
production capacities for new generation 1234yf refrigerant fluorinated gases.
This LGWP (Low Global Warming Potential) gas, intended for automotive
air-conditioning, meets future needs and upcoming regulations in this sector.
The first such unit, built in Asia for commissioning in 2016, will help fulfil
initial 1234yf requirements. A second investment would then be made in Europe
to fully replace R134a, the current refrigerant gas, from 2017 onwards.

On 30^th September 2013, Arkema and Saudi investment company Watan Industrial
Investment signed an agreement for the construction of an organic peroxide
production site in Saudi Arabia on the Al Jubail platform. This new
world-scale plant, requiring an investment of some $30 million, will help meet
the major expansion of petrochemicals manufacturers in the Middle East
anticipated by 2020. The joint venture between Arkema and Watan Industrial
Investment will be majority held by Arkema, with the latter overseeing the
operational and commercial management of the site. The plant’s startup is
scheduled for early 2015.

INNOVATION

On 17^th October 2013, Arkema officially inaugurated its first R&D center in
China on the Changshu site. This research center is to provide development
capacities and local support for customers in China and South-East Asia, in
particular in High Performance Materials.

Meanwhile, Arkema was recognized on several occasions for the quality of its
research and development:

  * The Group was awarded the Pierre Potier 2013 prize which rewards major
    chemistry innovations in the field of sustainable development for its
    Rilsan^® HT, a polymer of renewable origin able to resist to ultra high
    temperatures.
  * Arkema also confirmed its strong investment in innovation by ranking for
    the third consecutive year among the Thomson Reuters «Top 100 Global
    Innovators».

SHAREHOLDING STRUCTURE

On July 3^rd 2013, the Fonds Stratégique de Participation (FSP), a mutual fund
created by four major French insurance companies – BNP Paribas Cardif, CNP
Assurances, Crédit Agricole Assurances through its subsidiary Predica, and
Sogécap (Groupe Société Générale) – in order to support long-term investments
in listed companies, announced that it now owns 6% of Arkema’s share capital.

COMPETITIVENESS

On 19^th September 2013, Arkema presented to its Central Works Council a
project for the closure of operations at its Chauny industrial site
(France)^3. Part of the Acrylics business unit, the site produces  industrial
chemical intermediates primarily for the manufacture of plasticized PVC,
polyester resins, and alkyd resins for paint.  A charge of €30 million was
booked in the accounts for the quarter, including €9 million write-off.

^3 The implementation of the project is subject to the legal information and
consultation process involving the staff representatives

OUTLOOK

The market conditions observed in 3^rd quarter should continue over the
year-end in particular with the strengthening effect of the euro vs the dollar
across the Group’s activities. For the High Performance Materials segment, as
expected, demand in the oil and gas market should improve, in particular for
the Filtration and Adsorption business, and should result in an improvement in
performance compared to 4^th quarter 2012. The Coating Solutions segment
should continue to show its resilience in a mixed geographic environment.
Industrial Specialties should continue to be affected by the weakness of
fluorogases and PMMA in Europe. Finally, the 4^th quarter will reflect the
traditional year-end seasonality.

In this context, and taking into account the strengthening of the euro, Arkema
targets for the full year an EBITDA around €920 million.

In the medium and long term, the Group confirms its ambition to achieve by
2016 €8 billion sales and a 16% EBITDA margin while maintaining gearing below
40%, and, by 2020, the Group aims to achieve €10 billion sales and a 17%
EBITDA margin with gearing below 40%.

FINANCIAL CALENDAR

4^th March 2014               Publication of 2013 Annual Results

A global chemical company and France’s leading chemicals producer, Arkema is
building the future of the chemical industry every day. Deploying a
responsible, innovation-based approach, we produce state-of-the-art specialty
chemicals that provide customers with practical solutions to such challenges
as climate change, access to drinking water, the future of energy, fossil fuel
preservation and the need for lighter materials. With operations in more than
40 countries, some 14,000 employees and 10 research centers, Arkema generates
annual revenue of €6.4 billion, and holds leadership positions in all its
markets with a portfolio of internationally recognized brands.

Disclaimer

The information disclosed in this press release may contain forward-looking
statements with respect to the financial conditions, results of operations,
business and strategy of Arkema. Such statements are based on management’s
current views and assumptions that could ultimately prove inaccurate and are
subject to risk factors such as, among others, changes in raw materials
prices, currency fluctuations, implementation pace of cost-reduction projects
and changes in general economic and business conditions. Arkema does not
assume any liability to update such forward-looking statements whether as a
result of any new information or any unexpected event or otherwise. Further
information on factors which could affect Arkema’s financial results is
provided in the documents filed with the French Autorité des marchés
financiers.

Balance sheet, income statement, cash flow statement, statement of changes in
shareholders’ equity and information by business segment included in this
press release are extracted from the consolidated financial statements at 31
March 2013 closed by the Board of Directors of Arkema SA on 6^th November
2013.

Quarterly financial information is not audited.

Business segment information is presented in accordance with Arkema’s internal
reporting system used by the management.

The main performance indicators used are as follows:

  * Operating income: this includes all income and expenses of continuing
    operations other than financial result, equity in income of affiliates and
    income taxes;
  * Other income and expenses: these correspond to a limited number of
    well-identified non-recurring items of income and expense of a
    particularly material nature that the Group presents separately in its
    income statement in order to facilitate understanding of its recurring
    operational performance. These items of income and expense notably
    include:

       * Impairment losses in respect of property, plant and equipment and
         intangible assets,
       * Gains or losses on sale of assets, acquisition expenses, badwills and
         stock valuation adjustments between the fair value on the acquisition
         date and the replacement value,
       * Certain large restructuring and environmental expenses which would
         hamper the interpretation of recurring operating income (including
         substantial modifications to employee benefit plans and the effect of
         onerous contracts),
       * Certain expenses related to litigation and claims or major damages,
         whose nature is not directly related to ordinary operations;

  * Recurring operating income: this is calculated as the difference between
    operating income and other income and expenses as previously defined;
  * Adjusted net income: this corresponds to “Net income – Group share”
    adjusted for the “Group share” of the following items:

       * Other income and expenses, after taking account of the tax impact of
         these items,
       * Income and expenses from taxation of an exceptional nature, the
         amount of which is deemed significant,
       * Net income of discontinued operations;

  * EBITDA: this corresponds to recurring operating income increased by
    depreciation and amortization;
  * Working capital: this corresponds to the difference between inventories,
    accounts receivable, other receivables and prepaid expenses, income tax
    receivables and other current financial assets on the one hand and
    accounts payable, other creditors and accrued liabilities, income tax
    liabilities and other current financial liabilities on the other hand.
    These items are classified in current assets and liabilities in the
    consolidated balance sheet;
  * Capital employed: this is calculated by aggregating the net carrying
    amounts of intangible assets, property, plant and equipment, equity
    affiliate investments and loans, other investments, other non-current
    assets (excluding deferred tax assets) and working capital;
  * Net debt: this is the difference between current and non-current debt and
    cash and cash equivalents.^1 The implementation of the project is subject
    to the legal information and consultation process involving the staff
    representatives^2 Cash flow from operations and investments excluding the
    impact of portfolio management.^3 The implementation of the project is
    subject to the legal information and consultation process involving the
    staff representatives

 
ARKEMA Financial Statements
 
 
Consolidated financial statements - At the end of September 2013
 
 

CONSOLIDATED INCOME STATEMENT
 
 
                       3^rd           End of          3^rd           End of
                       quarter        September       quarter        September
                       2013           2013            2012           2012
(In millions of        (non           (non            (non           (non
euros)                 audited)       audited)        audited)       audited)
                                                                      
                                                                      
                                                                      
Sales                  1,495          4,687           1,606          4,948
                                                                      
Operating              (1,205)        (3,754)         (1,275)        (3,920)
expenses
Research and
development            (35)           (111)           (35)           (109)
expenses
Selling and
administrative         (101)          (315)           (107)          (321)
expenses
Recurring              154            507             189            598
operating income
Other income and       (37)           (177)           -              (25)
expenses
Operating income       117            330             189            573
Equity in income       2              5               2              8
of affiliates
Financial result       (13)           (40)            (14)           (39)
Income taxes           (40)           (146)           (54)           (166)
Net income of
continuing             66             149             123            376
operations
Net income of
discontinued           -              -               (7)            (171)
operations
Net income             66             149             116            205
Of which
non-controlling        1              2               -              1
interests
Net income -           65             147             116            204
Group share
Of which
continuing             65             147             123            375
operations
Of which
discontinued           -              -               (7)            (171)
operations
Earnings per
share (amount in       1.04           2.35            1.87           3.29
euros)
Earnings per
share of
continuing             1.04           2.35            1.97           6.04
operations
(amount in
euros)
Diluted earnings
per share              1.03           2.32            1.85           3.25
(amount in
euros)
Diluted earnings
per share of
continuing             1.03           2.32            1.95           5.97
operations
(amount in
euros)
                                                                      
Depreciation and       (79)           (233)           (77)           (227)
amortization
EBITDA                 233            740             266            825
Adjusted net
income of              101            322             123            397
continuing
operations
Adjusted net
income per share
of continuing          1.61           5.14            1.98           6.40
operations
(amount in
euros)
Diluted adjusted
net income per
share of
continuing             1.59           5.08            1.95           6.32
operations
(amount in
euros)
 
 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
 
 
                       3^rd           End of          3^rd           End of
                       quarter        September       quarter        September
                       2013           2013            2012           2012
(In millions of        (non           (non            (non           (non
euros)                 audited)       audited)        audited)       audited)
                                                                      
Net income             66             149             116            205
Hedging                -              (2)             7              1
adjustments
Other items            -              -               -              -
Deffered taxes
on hedging             -              -               -              -
adjustments and
other items
Change in
translation            (50)           (49)            (28)           12
adjustments
Other recyclable
comprehensive
income of              (50)           (51)            (21)           13
continuing
operations
Actuarial gains        (1)            40              1              (43)
and losses
Deffered taxes
on actuarial           -              (16)            -              9
gains and losses
Other
non-recyclable
comprehensive          (1)            24              1              (34)
income of
continuing
operations
Other
comprehensive
income of              (51)           (27)            (20)           (21)
continuing
operations
Other
comprehensive
income of              -              -               (2)            (7)
discontinued
operations
Total income and
expenses
recognized             (51)           (27)            (22)           (28)
directly in
equity
Comprehensive          15             122             94             177
income
Of which:
non-controlling        (1)            -               -              1
interest
Comprehensive
income - Group         16             122             94             176
share
                                                                      

 
CONSOLIDATED BALANCE SHEET
 
 
                                         30 September           31 December
                                         2013                   2012
                                                                 
                                         (non audited)          (audited)
(In millions of euros)
ASSETS
                                                                 
Intangible assets, net                   965                    962
Property, plant and equipment, net       1,851                  1,852
Equity affiliates : investments          66                     71
and loans
Other investments                        58                     36
Deferred tax assets                      67                     83
Other non-current assets                 153                    147
                                                                 
TOTAL NON-CURRENT ASSETS                 3,160                  3,151
                                                                 
Inventories                              968                    920
Accounts receivable                      900                    920
Other receivables and prepaid            142                    147
expenses
Income taxes recoverable                 37                     35
Other current financial assets           2                      8
Cash and cash equivalents                450                    360
                                                                 
TOTAL CURRENT ASSETS                     2,499                  2,390
                                                                 
Assets held for sale                     -                      -
                                                                 
TOTAL ASSETS                             5,659                  5,541
                                                                 
                                                                 
LIABILITIES AND SHAREHOLDERS'
EQUITY
                                                                 
Share capital                            629                    629
Paid-in surplus and retained             1,648                  1,587
earnings
Treasury shares                          (12)                   (16)
Translation adjustments                  35                     82
                                                                 
SHAREHOLDERS' EQUITY - GROUP SHARE       2,300                  2,282
                                                                 
Non-controlling interests                35                     29
                                                                 
TOTAL SHAREHOLDERS' EQUITY               2,335                  2,311
                                                                 
Deferred tax liabilities                 45                     33
Provisions for pensions and other        388                    432
employee benefits
Other provisions and non-current         401                    446
liabilities
Non-current debt                         1,064                  1,071
                                                                 
TOTAL NON-CURRENT LIABILITIES            1,898                  1,982
                                                                 
Accounts payable                         672                    683
Other creditors and accrued              279                    318
liabilities
Income taxes payable                     54                     56
Other current financial                  2                      2
liabilities
Current debt                             419                    189
                                                                 
TOTAL CURRENT LIABILITIES                1,426                  1,248
                                                                 
Liabilities associated with assets       -                      -
held for sale
                                                                 
TOTAL LIABILITIES AND                    5,659                  5,541
SHAREHOLDERS' EQUITY
 
 
CONSOLIDATED CASH FLOW STATEMENT
 
 
                                         End of September       End of
                                         2013                   September 2012
(In millions of euros)
                                         (non audited)          (non audited)
Cash flow - operating activities
                                                                 
Net income                               149                    205
Depreciation, amortization and           243                    272
impairment of assets
Provisions, valuation allowances         (27)                   (12)
and deferred taxes
(Gains)/losses on sales of assets        (5)                    (20)
Undistributed affiliate equity           4                      1
earnings
Change in working capital                (78)                   (143)
Other changes                            6                      6
                                                                 
Cash flow from operating                 292                    309
activities
Of which cash flow from operating
activities of discontinued               -                      (138)
operations
                                                                 
Cash flow - investing activities
                                                                 
Intangible assets and property,          (271)                  (321)
plant, and equipment additions
Change in fixed asset payables           (35)                   (51)
Acquisitions of operations, net of       (11)                   (245)
cash acquired
Increase in long-term loans              (24)                   (44)
                                                                 
Total expenditures                       (341)                  (661)
                                                                 
Proceeds from sale of intangible
assets and property, plant and           6                      14
equipment
Change in fixed asset receivables        -                      -
Proceeds from sale of operations,        1                      (6)
net of cash sold
Proceeds from sale of                    -                      -
unconsolidated investments
Repayment of long-term loans             17                     12
                                                                 
Total divestitures                       24                     20
                                                                 
Cash flow from investing                 (317)                  (641)
activities
Of which cash flow from investing
activities from discontinued             -                      (72)
operations
                                                                 
Cash flow - financing activities
                                                                 
Issuance (repayment) of shares and       9                      35
other equity
Purchase of treasury shares              -                      (13)
Dividends paid to parent company         (113)                  (81)
shareholders
Dividends paid to minority               -                      (1)
shareholders
Increase/ decrease in long-term          (7)                    232
debt
Increase/ decrease in short-term         229                    132
borrowings and bank overdrafts
                                                                 
Cash flow from financing                 118                    304
activities
                                                                 
Net increase/(decrease) in cash          93                     (28)
and cash equivalents
                                                                 
Effect of exchange rates and             (3)                    (5)
changes in scope
Cash and cash equivalents at             360                    254
beginning of period
                                                                 
Cash and cash equivalents of
discontinued operations at end of        -                      -
period
Cash advance granted to                  -                      -
discontinued operations
                                                                 
Cash and cash equivalents at end         450                    221
of period
Of which cash and cash equivalents       -                      -
of discontinued operations
                                                                 

 
CONSOLIDATED STATEMENT OF CHANGES IN SHAREHOLDERS’ EQUITY
(non audited)
 
                    Shares issued                                                                Treasury shares              Shareholders'       Non-             
(In millions                                      Paid-in       Retained       Translation                                    equity -            controlling       Shareholders'
of euros)           Number           Amount       surplus       earnings       adjustments       Number          Amount       Group               interests         equity
                                                                                                                              share
At January 1,       62,877,215       629          977           610            82                (314,034)       (16)         2,282               29                2,311
2013
Cash dividend       -                -            (113)         -              -                 -               -            (113)               -                 (113)
Issuance of         70,958           -            2             -              -                 -               -            2                   -                 2
share capital
Purchase of
treasury            -                -            -             -              -                 -               -            -                   -                 -
shares
Cancellation
of purchased        -                -            -             -              -                 -               -            -                   -                 -
treasury
shares
Grants of
treasury            -                -            -             (4)            -                 87,060          4            -                   -                 -
shares to
employees
Sale of
treasury            -                -            -             -              -                 -               -            -                   -                 -
shares
Share-based         -                -            -             7              -                 -               -            7                   -                 7
payments
Other               -                -            -             -              -                 -               -            -                   6                 6
Transactions
with                70,958           -            (111)         3              -                 87,060          4            (104)               6                 (98)
shareholders
Net income          -                -            -             147            -                 -               -            147                 2                 149
Total income
and expense
recognized          -                -            -             22             (47)              -               -            (25)                (2)               (27)
directly
through
equity
Comprehensive       -                -            -             169            (47)              -               -            122                 -                 122
income
At September        62,948,173       629          866           782            35                (226,974)       (12)         2,300               35                2,335
30, 2013
                                                                                                                                                                     

 
INFORMATION BY BUSINESS SEGMENT
(non audited)
 
                   3^rd quarter 2013
(In millions       High              Industrial        Coating
of euros)          Performance       Specialties       Solutions       Corporate       Total
                   Materials
                                                                                        
                                                                                        
Non-Group          451               461               574             9               1,495
sales
Inter
segment            3                 29                21              -
sales
Total sales        454               490               595             9                
EBITDA             85                74                79              (5)             233
Depreciation
and                (26)              (29)              (24)            -               (79)
amortization
Recurring
operating          59                45                55              (5)             154
income
Other income       (1)               -                 (31)            (5)             (37)
and expenses
Operating          58                45                24              (10)            117
income
Equity in
income of          1                 -                 -               1               2
affiliates
                                                                                        
Intangible
assets and
property,          18                50                23              6               97
plant and
equipment
additions
Of which
recurring          16                24                22              6               68
capex
 
 
                   3^rd quarter 2012
(In millions       High              Industrial        Coating
of euros)          Performance       Specialties       Solutions       Corporate       Total
                   Materials
                                                                                        
                                                                                        
Non-Group          548               496               557             5               1,606
sales
Inter
segment            3                 27                16              -
sales
Total sales        551               523               573             5                
EBITDA             107               98                78              (17)            266
Depreciation
and                (27)              (28)              (21)            (1)             (77)
amortization
Recurring
operating          80                70                57              (18)            189
income
Other income       2                 3                 (2)             (3)             -
and expenses
Operating          82                73                55              (21)            189
income
Equity in
income of          1                 -                 -               1               2
affiliates
                                                                                        
Intangible
assets and
property,          24                38                33              7               102
plant and
equipment
additions
Of which
recurring          18                21                29              8               76
capex
 
 
INFORMATION BY BUSINESS SEGMENT
(non audited)
 
 
                   End of September 2013
(In millions       High              Industrial        Coating
of euros)          Performance       Specialties       Solutions       Corporate       Total
                   Materials
                                                                                        
                                                                                        
Non-Group          1,376             1,540             1,738           33              4,687
sales
Inter
segment            9                 81                63              -
sales
Total sales        1,385             1,621             1,801           33               
EBITDA             248               292               240             (40)            740
Depreciation
and                (77)              (86)              (69)            (1)             (233)
amortization
Recurring
operating          171               206               171             (41)            507
income
Other income       (8)               -                 (36)            (133)           (177)
and expenses
Operating          163               206               135             (174)           330
income
Equity in
income of          1                 -                 -               4               5
affiliates
                                                                                        
Intangible
assets and
property,          49                135               68              19              271
plant and
equipment
additions
Of which
recurring          43                59                66              19              187
capex
 
 
                   End of September 2012
(In millions       High              Industrial        Coating
of euros)          Performance       Specialties       Solutions       Corporate       Total
                   Materials
                                                                                        
                                                                                        
Non-Group          1,654             1,594             1,683           17              4,948
sales
Inter
segment            15                93                64              -
sales
Total sales        1,669             1,687             1,747           17               
EBITDA             318               320               234             (47)            825
Depreciation
and                (80)              (84)              (61)            (2)             (227)
amortization
Recurring
operating          238               236               173             (49)            598
income
Other income       (23)              7                 (5)             (4)             (25)
and expenses
Operating          215               243               168             (53)            573
income
Equity in
income of          1                 -                 -               7               8
affiliates
                                                                                        
Intangible
assets and
property,          73                101               93              15              282
plant and
equipment
additions
Of which
recurring          67                62                80              15              224
capex

Contact:

Arkema
Investor Relations:
Sophie Fouillat, +33 1 49 00 86 37
sophie.fouillat@arkema.com
or
Jérôme Raphanaud, +33 1 49 00 72 07
jerome.raphanaud@arkema.com
or
Press Relations:
Gilles Galinier, +33 1 49 00 70 07
gilles.galinier@arkema.com
or
Sybille Chaixm, +33 1 49 00 70 30
sybille.chaix@arkema.com
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