The polymer producer has benefited from cost savings and higher prices
Despite lower income in the second quarter, polymer and chemicals group Arkema’s results for the first half of 2006 improved from the same period of 2005.
A net profit of ˆ37m was posted by Arkema for the first half of 2006 compared with a ˆ36m loss in the first half of last year.
Higher income taxes in the second quarter held net profit at ˆ28m, 15% down year-on-year. Sales were 3% higher, though, at ˆ1.5bn, partly due to fixed cost savings of ˆ30m made in the quarter.
The vinyl products business saw a rise in EBITDA from ˆ2m last year to ˆ14m in the second quarter this year, largely because of higher PVC prices.
The performance products business increased EBITDA from ˆ36m to ˆ52m over the same period, benefiting from price increases and the contribution of new units such as the EVA plant in Balan, France, and Orevac unit in Mont, France.
