Arkema SA

AKE: XPAR (FRA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	€793.00	Yvkgp	Fqwlywh

Arkema Earnings: EBITDA Down but Above Consensus; Acquisition of PI Advanced Materials Positive for Moat

Rob Hales

Jul 28, 2023

No-moat Arkema reported second-quarter EBITDA of EUR 417 million, showing a 41% decline compared with the high base of second-quarter 2022. Nevertheless, it still managed to surpass the company's compiled consensus by 5%. The results were largely influenced by weakened demand and continuous destocking across all segments, with volumes dropping by 15% and average prices decreasing by 6.6% in most businesses, except for adhesive solutions. Despite these challenges, Arkema reconfirmed its guidance for 2023, aiming for an EBITDA ranging from EUR 1.5 billion to EUR 1.6 billion.

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