Arkema Q2 2026 results
- EBITDA rose 7.4% YoY to €391 million, with the margin improving to 16.1%.
- Organic sales increased 3.2%, supported by pricing dynamics and Asia momentum.
- Recurring cash flow was €78 million and capital expenditure is limited to a €600 million annual target.
- Net debt was broadly stable at €3.6 billion and the Group confirms FY‑26 EBITDA guidance slightly above last year at constant FX.
Second-quarter performance
Arkema reported Q2 2026 EBITDA of €391 million, up 7.4% year‑on‑year, and an EBITDA margin of 16.1%, with organic sales up 3.2% supported by pricing and stronger activity in Asia. The quarter was affected by the conflict in the Middle East, which triggered a sharp increase in raw material costs and subsequent pricing adjustments.
Segment drivers
Adhesive Solutions and Coating Solutions were the main contributors to EBITDA growth, while Advanced Materials was mixed—Performance Additives weakened but HPP gained momentum. Primary Materials benefited from improved acrylic spreads, partly offset by declines in old‑generation refrigerants.
Cash, capex and balance sheet
Recurring cash flow stood at €78 million despite higher working capital due to raw material inflation and seasonality; capex was lower year‑on‑year and aligned with the €600 million annual target. Net debt remained broadly stable at €3.6 billion after the dividend, supporting balance‑sheet resilience in weak market conditions.
Outlook and priorities
The Group confirmed guidance for full‑year 2026 EBITDA to be slightly higher than 2025 at constant FX, aiming to offset fixed‑cost inflation through strict cost discipline, operational excellence and the ramp‑up of major projects expected to add around €50 million EBITDA in 2026 versus 2025. Mentioned initiatives include the Dow adhesives acquisition, PA11 and Rilsan® Clear plants in Singapore, PVDF expansion in Calvert City (US), a new acrylic distillation in France and HF supply at Nutrien (US).
Source: Arkema