Arkema falls into the red in 2009
The year 2009 was not that of chemistry as shown in the results of the Arkema Group, published on Thursday. The group announced a net loss of 172 million euros, against a profit of 100 million euros in 2008. The turnover has shrunk from 21.1% to 4.44 billion euros for an operating margin of 7%, against 8.8% in 2008.
The group saw its three channels suffer because of weak demand and reduced inventories at its customers. The vinyl products business recorded a decline in its sales to 1 billion euros against 1.443 billion a year earlier. The industrial cluster Chemistry reaping 2.109 billion euros against 2.582 billion revenue in 2008 cash advance to savings account .Finally, the last part, performance products has achieved a turnover of 1.318 billion against 1.602 billion a year ago.
In 2010, Arkema expects a "significant increase" in sales and its gross operating profit (EBITDA), which stood at 310 million euros for 2009 (-37.8%). He adds that "standard conditions", Arkema is an operating margin "greater than 13.5%" in 2014.
In early September, Arkema, a former subsidiary of Total, announced the arrest of a production line in Saint-Auban (Alpes-de-Haute-Provence) with the elimination of 88 positions.
See also:
"Arkema will eliminate 240 jobs