Arkema : A unique source of EBITDA in a bleak macroeconomic climate
Arkema stands out from peers with over € 400m in potential EBITDA to be generated by fully financed projects. Unluckily, the macroeconomic environment, which caused the group to lose over € 200m in EBITDA, deteriorated further at the start of the year, with major uncertainties now weighing on the outlook. We are lowering our EPS estimates by 8% (2025-27 average). Our new target price, adjusted to € 85 from € 92 (6x 2025e pro forma EBITDA), still harbours significant upside (current price close to a bear-case scenario excluding any pick-up in demand over the next few years).Arkema is engaged in the global chemical industry which is a processing industry based on the transformation in one or several stages of raw materials (oil derivatives, gas, minerals, natural products) into more or less complex chemical products, or into plastics obtained by polymerization. In addition, Co. manufactures a wide range of products for other major industries: construction, packaging, chemicals, automotive, electronics, food manufacturing, pharmaceuticals, etc. Co. operates in this industrial context with a business portfolio focused on three segments: High Performance Materials, Industrial Specialties, and Coating Solutions.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.