MOSCOW (MRC) -- Arkema, a France-based chemical manufacturer and the world's second leading producer of organic peroxides, said its revenue and core earnings grew in the first quarter 2016, driven by robust sales at its Bostik glue unit and strong performance by its thiochemicals platform in Malaysia, as per the company's report.
First-quarter revenue rose 1.2 percent to 1.89 billion euros, while EBITDA was up 27.4 percent at 302 million euros, the company said in a statement on Wednesday.
First-quarter net income group share rose 133.3 pct to 98 million euros, the company said.
On average, analysts were expecting first-quarter revenue of 2.01 billion euros and EBITDA of 280 million euros, according to Thomson Reuters I/B/E/S Estimates.
"This performance illustrates our internal momentum sustained by transforming investments which continue to ramp up, like Bostik integration and the development of thiochemicals in Malaysia," Chairman and CEO Thierry Le Henaff said in the statement.
Arkema confirmed it expects EBITDA to grow in 2016.
As MRC informed earlier, on June 4 2015, Arkema officially inaugurated the thiochemicals plant, which successfully came on stream in Kerteh, Malaysia, beginning of 2015. This world-scale thiochemicals platform produces methyl mercaptan, a synthesis intermediate for animal feed, as well as dimethyl disulfide (DMDS). The facility strengthens Arkema's position as the world leader in high added value sulfur derivatives, and is fully consistent with the GroupпїЅs growth strategy in Asia. The construction of the new plant represented investments of some EUR200 million for the Group.
Arkema with annual revenue of EUR6.7 billion is a leading European supplier of chlorochemicals and PVC. Kynar and Kynar Flex are registered trademarks of Arkema Inc. Arkema operates 11 organic peroxide plants on the three continents.
MRC