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Arkemas first-quarter sales rose 33%

May 06/2011

(ICIS) -- Arkemas net profit almost quadrupled to EUR 151m (USD 225m) in the first quarter of 2011, from a EUR 40m gain in the same period in 2010, on the back of strong demand and higher prices, the French specialty chemicals company said on Thursday.

First-quarter sales rose 33% year on year to EUR 1.73bn, as sales volumes grew 7%, spurred by strong demand in Asia and new developments in many sectors related to sustainable development.

Earnings were also boosted by the 21% year-on-year increase in product prices, which offset significant increases in raw material costs, Arkema added.

Earnings before interest, tax, depreciation and amortisation (EBITDA) in the first quarter more than doubled to EUR 287m, from EUR 137m in the same period of 2010, while Arkemas 16.6% EBITDA margin exceeded 16% during a quarter for the first time since its spin-off from oil major Total in 2006.

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