Arkema: Cost reductions limit fall in 2009 operating profit

Arkema (Colombes / France; www.arkema.com) has reported a 38% year-on-year fall in operating profit (EBITDA) to EUR 310m in 2009. The company said that it had limited the impact of falling volumes by accelerating cost reductions while generating high cash flow.

Sales in the year fell by 21% to EUR 4.44 bn, with volumes showing a 14% decline over 2008 due to the effect falling demand combined with customer destocking in the first six months of the year. Prices fell over the year, reflecting lower raw material costs, in particular ethylene and propylene and a fall in caustic soda prices.

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( Source: PIE - News-Ticker on Plasteurope.com )