Arkema SA reports annual financial figures
February 15th, 2022 Arkema SA (Arkema) has reported its annual revenue figures for the fiscal year ending December 31st, 2022. The company reported revenue earnings of $9.5 billion, representing a 20.7% increase over 2020’s revenue figures. The company reported $1.7 billion in EBITDA, or Earnings Before Interest, Taxes, Depreciation, Amortization, representing a 46.1% increase over the $1.2 billion generated in 2020. The company attributes these increases to the overall recovery of the economy in the wake of the Covid-19 (Coronavirus) pandemic and its innovations within the industry. Arkema claims that while its minor markets such as oil & gas, paper production, and the automotive industry suffered losses year-on-year, it was able to facilitate revenue growth through environmentally friendly innovations in the battery, consumer goods, and 3D printing markets among others.
New Activity|M&A|Discontinued ActivityIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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