\n| Sales<\/b><\/td>\n | \n | \n2,181.8<\/b><\/p><\/td> | \n | \n2,380.7<\/b><\/p><\/td> | \n-8.4%<\/b><\/p><\/td><\/tr>\n\nEBITDA (a)<\/sup><\/b><\/td>\n| \n | \n282.7<\/b><\/p><\/td> | \n | \n328.6<\/b><\/p><\/td> | \n-14.0%<\/b><\/p><\/td><\/tr>\n\n| Specialty Materials<\/td>\n | \n | \n278.4<\/p><\/td> | \n | \n324.1<\/p><\/td> | \n-14.1%<\/p><\/td><\/tr>\n | \n| Primary Materials<\/td>\n | \n | \n32.8<\/p><\/td> | \n | \n30.7<\/p><\/td> | +6.8%<\/td>\n<\/tr>\n | \n| Corporate<\/td>\n | \n | \n-28.5<\/p><\/td> | \n | \n-26.2<\/p><\/td> | \n<\/tr>\n | \nEBITDA margin (a)<\/sup><\/b><\/td>\n| \n | \n13.0%<\/b><\/p><\/td> | \n | \n13.8%<\/b><\/p><\/td> | \n<\/tr>\n | \n| Specialty Materials<\/td>\n | \n | \n14.9%<\/p><\/td> | \n | \n16.2%<\/p><\/td> | \n<\/tr>\n | \n| Primary Materials<\/td>\n | \n | \n10.7%<\/p><\/td> | \n | \n8.2%<\/p><\/td> | \n<\/tr>\n | \nRecurring operating income (REBIT) (a)<\/sup><\/b><\/td>\n| \n | \n118.1<\/b><\/p><\/td> | \n | \n160.3<\/b><\/p><\/td> | \n-26.3%<\/b><\/p><\/td><\/tr>\n\nREBIT margin (a)<\/sup><\/td>\n| \n | \n5.4%<\/p><\/td> | \n | \n6.7%<\/p><\/td> | \n<\/tr>\n | \nAdjusted net income (a)<\/sup><\/b><\/td>\n| \n | \n64.7<\/b><\/p><\/td> | \n | \n98.6<\/b><\/p><\/td> | \n-34.4%<\/b><\/p><\/td><\/tr>\n\nAdjusted net income per share (in \u20ac) (a)<\/sup><\/td>\n| \n | \n0.86<\/p><\/td> | \n | \n1.31<\/p><\/td> | \n<\/tr>\n | \n| Operating income<\/td>\n | \n | \n73.7<\/p><\/td> | \n | \n102.6<\/p><\/td> | \n-28.2%<\/p><\/td><\/tr>\n | \n| Net income - Group share<\/td>\n | \n | \n27.2<\/p><\/td> | \n | \n49.2<\/p><\/td> | \n-44.7%<\/p><\/td><\/tr>\n | \nRecurring cash flow (a)<\/sup><\/td>\n| \n | \n-95.2<\/p><\/td> | \n | \n-137.7<\/p><\/td> | \n<\/tr>\n | \nFree cash flow (a)<\/sup><\/td>\n| \n | \n-107.9<\/p><\/td> | \n | \n-154.8<\/p><\/td> | \n<\/tr>\n | \nNet debt and hybrid bonds (a)<\/sup><\/b><\/td>\n| \n | \n3,344.1<\/b><\/p><\/td> | \n | \n3,425.5<\/b><\/p><\/td> | \n<\/tr>\n | \n| \u20ac3,169.6m as of 31\/12\/2025<\/i><\/td>\n | \n | \n | \n | \n | \n<\/tr>\n<\/table>\n\n(a) Alternative performance indicator : refer to sections 6 and 8 of the consolidated financial information at the end of March 2026 <\/i>available the end of the document for reconciliation tables and definitions<\/i><\/td>\n<\/tr>\n\n| \n<\/tr>\n<\/table> \nFIRST-QUARTER 2026 BUSINESS PERFORMANCE<\/b><\/p> \nAt \u20ac2,182 million<\/b>, Group sales<\/b> were down 3.2% compared with the first quarter of 2025 at constant exchange rates. Volumes were stable year-on-year, reflecting contrasting dynamics by region, with ongoing growth in Asia in Specialty Materials while overall demand in Europe and North America remained soft. After a rather weak start to the year, Specialty Materials volumes eventually increased by 1.5% versus last year, driven by an improvement in March, notably in High Performance Polymers, industrial adhesives and Coating Solutions. Certain key markets, namely batteries, sports, 3D printing and healthcare, continued to show attractive growth, with volumes up around 15% year-on-year. Prices decreased by 3.0% at Group level, reflecting the lower selling price environment compared to last year, in line with Q4\u201925 levels. March, however, started to show an improving trend. Sales were also impacted mechanically by a negative 5.1% currency effect, mainly linked to the devaluation of the US dollar against the euro.<\/p> \nGroup EBITDA<\/b> amounted to \u20ac283 million <\/b>(\u20ac329 million in Q1'25), up 14% compared to fourth-quarter 2025. This result included an unfavorable currency effect of around \u20ac20 million versus last year. It reflected also the softness in Advanced Materials, while Coating Solutions showed resilience and Adhesive Solutions significant sequential improvement versus fourth-quarter 2025. The performance of Primary Materials was also slightly up compared to last year. After a relatively weak January and February, all segments showed a marked improvement in March. In addition, the focus on strict control of operations has continued, enabling the Group to offset fixed cost inflation over the quarter. In this context, the Group\u2019s EBITDA margin <\/b>stood at 13.0% <\/b>(13.8% in Q1\u201925).<\/p> \nRecurring operating income<\/b> (REBIT) of \u20ac118 million<\/b> (\u20ac160 million in Q1'25) included \u20ac165 million in recurring depreciation and amortization, broadly stable versus last year. In the first-quarter 2026, the REBIT margin<\/b> thus amounted to 5.4% (6.7% in Q1'25).<\/p> \nTaking into account a tax rate excluding exceptional items of 20% of recurring operating income, adjusted net income<\/b> amounted to \u20ac65 million<\/b> (\u20ac99 million in Q1'25), i.e.<\/i> \u20ac0.86 per share.<\/p> \nCASH FLOW AND NET DEBT AT 31 MARCH 2026<\/b><\/p> \nRecurring cash flow<\/b> stood at negative \u20ac95 million<\/b> (negative \u20ac138 million in Q1'25), reflecting the usual first quarter business seasonality. It was better than last year, supported by an improved working capital ratio of 16.3% of the annualized sales (17.4% at end-March 2025). Recurring cash flow also included lower capital expenditure compared with last year at \u20ac75 million (\u20ac89 million in Q1'25), in line with the annual guidance of \u20ac600 million.<\/p> \nFree cash flow<\/b> was a negative \u20ac108 million <\/b>(negative \u20ac155 million in Q1\u201925), including a non-recurring cash outflow of \u20ac13 million, down compared to the previous year, and mostly linked to restructuring and reorganization costs.<\/p> \nNet debt <\/b>(including hybrid bonds) amounted to \u20ac3,344 million<\/b> at end-March 2026 (\u20ac3,170 million at end-2025), and the net debt and hybrid bonds to last-twelve-months EBITDA ratio stood at 2.8x.<\/p> \nFIRST-QUARTER 2026 PERFORMANCE BY SEGMENT<\/b><\/p> \nADHESIVE SOLUTIONS (31% OF TOTAL GROUP SALES)<\/b><\/p>\n\n| \n | \n | \n | \n | \n | \u00a0<\/td>\n<\/tr>\n | \n| in millions of euros<\/i><\/td>\n | \n | Q1'26<\/b><\/td>\n | \n | Q1'25<\/b><\/td>\n | Change<\/b><\/td>\n<\/tr>\n\n| Sales<\/b><\/td>\n | \n | \n671.0<\/b><\/p><\/td> | \n | \n715.2<\/b><\/p><\/td> | \n-6.2%<\/b><\/p><\/td><\/tr>\n\nEBITDA (a)<\/sup><\/b><\/td>\n| \n | \n88.5<\/b><\/p><\/td> | \n | \n98.7<\/b><\/p><\/td> | \n-10.3%<\/b><\/p><\/td><\/tr>\n\nEBITDA margin (a)<\/sup><\/b><\/td>\n| \n | \n13.2%<\/b><\/p><\/td> | \n | \n13.8%<\/b><\/p><\/td> | \n<\/tr>\n | \nRecurring operating income (REBIT) (a)<\/sup><\/b><\/td>\n| \n | \n62.7<\/b><\/p><\/td> | \n | \n73.0<\/b><\/p><\/td> | \n-14.1%<\/b><\/p><\/td><\/tr>\n\nREBIT margin (a)<\/sup><\/td>\n| \n | \n9.3%<\/p><\/td> | \n | \n10.2%<\/p><\/td> | \n<\/tr>\n | \n| \n | \n | \n | \n | \n | \u00a0<\/td>\n<\/tr>\n | \n(a) Alternative performance indicator : refer to sections 6 and 8 of the consolidated financial information at the end <\/i>of March 2026 available at the end of the document for reconciliation tables and definitions<\/i><\/td>\n<\/tr>\n\n| \n<\/tr>\n<\/table> \nAt \u20ac671 million<\/b> (\u20ac715 million in Q1\u201925), sales<\/b> in the Adhesive Solutions segment were down 1.8% at constant exchange rates. In a still weak demand environment in North America and Europe, segment volumes were slightly up 0.4%, supported by strong growth in Asia. Volumes improved in adhesives for durable goods, notably in aerospace and heavy truck markets in North America, while packaging remained disappointing and construction was slightly better oriented overall. Prices were down 2.2%, reflecting declining costs for raw materials in most of the quarter. Sales included also a negative 4.3% currency effect compared to previous year.<\/p> \nSegment EBITDA<\/b> stood at \u20ac89 million<\/b> (\u20ac99 million in Q1\u201925), impacted by the currencies and reflecting also an unfavorable mix effect compared to last year. This performance showed nevertheless a significant sequential step up of 26% versus fourth-quarter 2025. In this context, EBITDA margin<\/b> stood at 13.2%<\/b> (13.8% in Q1'25).<\/p> \nADVANCED MATERIALS (37% OF TOTAL GROUP SALES)<\/b><\/p>\n\n| in millions of euros<\/i><\/td>\n | \n | Q1'26<\/b><\/td>\n | \n | Q1'25<\/b><\/td>\n | Change<\/b><\/td>\n<\/tr>\n\n| Sales<\/b><\/td>\n | \n | \n806.2<\/b><\/p><\/td> | \n | \n857.8<\/b><\/p><\/td> | \n-6.0%<\/b><\/p><\/td><\/tr>\n\nEBITDA (a)<\/sup><\/b><\/td>\n| \n | \n139.0<\/b><\/p><\/td> | \n | \n174.6<\/b><\/p><\/td> | \n-20.4%<\/b><\/p><\/td><\/tr>\n\nEBITDA margin (a)<\/sup><\/b><\/td>\n| \n | \n17.2%<\/b><\/p><\/td> | \n | \n20.4%<\/b><\/p><\/td> | \n<\/tr>\n | \nRecurring operating income (REBIT) (a)<\/sup><\/b><\/td>\n| \n | \n48.6<\/b><\/p><\/td> | \n | \n86.9<\/b><\/p><\/td> | \n-44.1%<\/b><\/p><\/td><\/tr>\n\nREBIT margin (a)<\/sup><\/td>\n| \n | \n6.0%<\/p><\/td> | \n | \n10.1%<\/p><\/td> | \n<\/tr>\n | \n| \n | \n | \n | \n | \n | \u00a0<\/td>\n<\/tr>\n | \n(a) Alternative performance indicator : refer to sections 6 and 8 of the consolidated financial information at the end <\/i>of March 2026 available at the end of the document for reconciliation tables and definitions<\/i><\/td>\n<\/tr>\n\n| \n<\/tr>\n<\/table> \nAt \u20ac806 million<\/b> (\u20ac858 million in Q1\u201925), sales<\/b> in the Advanced Materials segment were broadly stable at constant exchange rates. Volumes were up 1.6%, benefiting notably from the Group\u2019s innovation strategy and development in several key attractive markets as well as the progressive ramp-up of its major projects. In this field, the Group successfully started up early 2026 its Rilsan\u00ae<\/sup> Clear unit, downstream of its PA11 plant in Singapore, and is now finalizing the completion of its new PVDF capacity in the US scheduled to start-up mid-year. Prices were down 1.8%, reflecting mainly the evolution of the mix. First-quarter sales included also a material negative 5.8% currency effect.<\/p>\nAt \u20ac139 million <\/b>(\u20ac175 million in Q1\u201925), the segment EBITDA<\/b> was down year-on-year, reflecting similar market conditions as in Q4\u201925 while improving in March. This performance included also the negative currency effect as well as an unfavorable product and geographical mix compared to last year. Going forward, Advanced Materials are expected to gain momentum in Q2, supported by High Performance Polymers, benefiting notably from the ramp up of several major growth projects. The EBITDA margin<\/b> for the segment remained at the reasonable level of 17.2%<\/b> (20.4% in Q1'25), with an improvement observed in March.<\/p> \nCOATING SOLUTIONS (18% OF TOTAL GROUP SALES)<\/b><\/p>\n\n| \n | \n | \n | \n | \n | \u00a0<\/td>\n<\/tr>\n | \n| in millions of euros<\/i><\/td>\n | \n | Q1'26<\/b><\/td>\n | \n | Q1'25<\/b><\/td>\n | Change<\/b><\/td>\n<\/tr>\n\n| Sales<\/b><\/td>\n | \n | \n391.0<\/b><\/p><\/td> | \n | \n423.2<\/b><\/p><\/td> | \n-7.6%<\/b><\/p><\/td><\/tr>\n\nEBITDA (a)<\/sup><\/b><\/td>\n| \n | \n50.9<\/b><\/p><\/td> | \n | \n50.8<\/b><\/p><\/td> | +0.1%<\/b><\/td>\n<\/tr>\n\nEBITDA margin (a)<\/sup><\/b><\/td>\n| \n | \n13.0%<\/b><\/p><\/td> | \n | \n12.0%<\/b><\/p><\/td> | \n<\/tr>\n | \nRecurring operating income (REBIT) (a)<\/sup><\/b><\/td>\n| \n | \n35.9<\/b><\/p><\/td> | \n | \n34.7<\/b><\/p><\/td> | +3.5%<\/b><\/td>\n<\/tr>\n\nREBIT margin (a)<\/sup><\/td>\n| \n | \n9.2%<\/p><\/td> | \n | \n8.2%<\/p><\/td> | \n<\/tr>\n | \n| \n | \n | \n | \n | \n | \u00a0<\/td>\n<\/tr>\n | \n(a) Alternative performance indicator : refer to sections 6 and 8 of the consolidated financial information at the end <\/i>of March 2026 available at the end of the document for reconciliation tables and definitions<\/i><\/td>\n<\/tr>\n\n| \n<\/tr>\n<\/table> \nSales<\/b> in the Coating Solutions segment stood at \u20ac391 million, <\/b>down 2.0% compared to first-quarter 2025 at constant exchange rates. Benefiting from a strong dynamic in March, volumes were up 3.1% year-on-year, driven mainly by significant growth in Asia, in particular in UV curing resins. Sales included a negative 5.1% price effect, reflecting essentially lower prices in Europe and North America compared to last year, following the progressive decrease in raw materials costs observed in 2025. Segment sales included also a negative 5.6% currency effect.<\/p> \nEBITDA<\/b> of the segment was resilient at \u20ac51 million<\/b>, stable versus last year, and EBITDA margin<\/b> improved by 100 bps to 13.0%<\/b>, reflecting the stronger volumes in high value-added solutions.<\/p> \nPRIMARY MATERIALS (14% OF TOTAL GROUP SALES)<\/b><\/p>\n\n| in millions of euros<\/i><\/td>\n | \n | Q1'26<\/b><\/td>\n | \n | Q1'25<\/b><\/td>\n | Change<\/b><\/td>\n<\/tr>\n\n| Sales<\/b><\/td>\n | \n | \n306.2<\/b><\/p><\/td> | \n | \n376.1<\/b><\/p><\/td> | \n-18.6%<\/b><\/p><\/td><\/tr>\n\nEBITDA (a)<\/sup><\/b><\/td>\n| \n | \n32.8<\/b><\/p><\/td> | \n | \n30.7<\/b><\/p><\/td> | +6.8%<\/b><\/td>\n<\/tr>\n\nEBITDA margin (a)<\/sup><\/b><\/td>\n| \n | \n10.7%<\/b><\/p><\/td> | \n | \n8.2%<\/b><\/p><\/td> | \n<\/tr>\n | \nRecurring operating income (REBIT) (a)<\/sup><\/b><\/td>\n| \n | \n1.7<\/b><\/p><\/td> | \n | \n-2.4<\/b><\/p><\/td> | \n<\/tr>\n | \nREBIT margin (a)<\/sup><\/td>\n| \n | \n0.6%<\/p><\/td> | \n | \n-0.6%<\/p><\/td> | \n<\/tr>\n | \n| \n | \n | \n | \n | \n | \u00a0<\/td>\n<\/tr>\n | \n(a) Alternative performance indicator : refer to sections 6 and 8 of the consolidated financial information at the end <\/i>of March 2026 available at the end of the document for reconciliation tables and definitions<\/i><\/td>\n<\/tr>\n\n| \n<\/tr>\n<\/table> \nAt \u20ac306 million<\/b>, sales<\/b> in the Primary Materials segment decreased sharply by 18.6% compared with first-quarter 2025, although with a more favorable mix. Volumes were down by 8.7% and prices by 5.0%, impacted essentially by weak demand and lower prices than last year in acrylic monomers. The currency effect was a negative 4.9%.<\/p> \nSegment EBITDA<\/b> was slightly up at \u20ac33 million<\/b> (\u20ac31 million in Q1\u201925), supported by a better performance in old-generation refrigerants in the US, while acrylic monomers stayed in low cycle conditions most of the quarter. The impact of the positive development of acrylic spreads was limited to Asia and to March and is expected to be more pronounced in Q2. In this context, the EBITDA margin<\/b> improved to 10.7%<\/b> (8.2% in Q1'25).<\/p> \nFIRST-QUARTER 2026 HIGHLIGHTS<\/b><\/p> \nOn 16 March, Arkema announced a 20% expansion of production capacity at its Changshu Kynar\u00ae<\/sup> PVDF manufacturing site in China scheduled to start up in 2028. This investment reflects the Group\u2019s strategy to increase its Kynar\u00ae<\/sup> PVDF footprint at a pace and with capabilities that match the strong and accelerating demand across the Asia-Pacific region and beyond, across all key markets, including lithium-ion batteries for electric vehicles (EV) and energy storage systems (ESS).<\/p>\nOUTLOOK<\/b><\/p> \nIn an environment marked by the crisis in the Middle East, a key priority of the Group is to address the impacts of the conflict and adjust its pricing policy to offset the inflation of raw materials, energy and logistics costs, relying on its agility and its close relationship with its suppliers and customers. Arkema will remain attentive to other potential effects of this crisis, including on global demand. This situation could also lead temporarily to tighter supply\/demand balance in certain value chains, creating some upside for the chemical industry.<\/p> \nBesides, Arkema will continue to tightly manage its operations, control its costs with the aim to offset fixed cost inflation, and ramp up its major projects, which are expected to deliver around \u20ac50 million additional EBITDA in 2026 versus 2025. The Group will also manage its capital expenditure at around \u20ac600 million in 2026, leaving space for targeted investments in attractive markets.<\/p> \nBased on these elements, the Group confirms its target of a slight EBITDA growth at constant currencies in 2026.<\/p> \nMoreover, Arkema will pursue the implementation of its strategic roadmap on Specialty Materials, leveraging its cutting-edge innovation, strengthening partnerships with its customers, and deploying its portfolio of technologies to support the development of solutions for a less carbon-intensive and more sustainable world.<\/p> \nFurther details concerning the Group's first quarter 2026 results are provided in the \"First-quarter 2026 results and outlook\" presentation and the \"Factsheet\", both available on Arkema's website at: www.arkema.com\/global\/en\/investor-relations\/<\/a><\/p>\nFINANCIAL CALENDAR<\/b><\/p> \n21 May 2026: Annual general meeting\n30 July 2026: Publication of first-half 2026 results\n5 November 2026: Publication of third-quarter 2026 results<\/p> \nDISCLAIMER<\/b><\/p> \nUnless otherwise stated, amounts disclosed in the tables are presented in millions of euros, rounded naturally to one decimal. Slight differences may appear between calculations performed using these amounts and the totals shown. Data relating to the year 2025 are now presented using this new format.<\/i><\/p> \nThe information disclosed in this press release may contain forward-looking statements with respect to the financial position, results of operations, business and strategy of Arkema.<\/i><\/p> \nIn a context of significant geopolitical tensions, where the outlook for the global economy remains uncertain, the retained assumptions and forward-looking statements could ultimately prove inaccurate. Such statements are based on management\u2019s current views and assumptions that could ultimately prove inaccurate and are subject to risk factors such as (but not limited to) changes in raw materials prices, currency fluctuations, and the pace at which cost-reduction projects are implemented,<\/i> escalating geopolitical tensions, and changes in general economic and financial conditions. Arkema does not assume any liability to update such forward-looking statements whether as a result of any new information or any unexpected event or otherwise. Further information on factors which could affect Arkema\u2019s financial results is provided in the documents filed with the French Autorit\u00e9 des march\u00e9s financiers.<\/i><\/p> \nBalance sheet, income statement and cash flow statement data, as well as data relating to the statement of changes in shareholders' equity and information by segment included in this press release are extracted from the consolidated financial statements at 31 March 2026 as reviewed by Arkema's Board of Directors on 5 May 2026. Quarterly financial information is not audited. Information by segment is presented in accordance with Arkema's internal reporting system used by management.<\/i><\/p> \nDefinitions and reconciliation tables for the main alternative performance indicators used by the Group are provided in Sections 6 and 8 of the consolidated financial information at 31 March 2026 available at the end of this document.<\/i><\/p> \nFor the purpose of tracking changes in its results, and particularly its sales figures, the Group analyzes the following effects (unaudited analyses):<\/i><\/p>\n- \nscope effect:<\/i><\/b> the impact of changes in the Group's scope of consolidation, which arise from acquisitions and divestments of entire businesses or as a result of the first-time consolidation or deconsolidation of entities. Increases or reductions in capacity are not included in the scope effect;<\/i><\/li>\n
- \ncurrency effect:<\/i><\/b> the mechanical impact of consolidating accounts denominated in currencies other than the euro at different exchange rates from one period to another. The currency effect is calculated by applying the foreign exchange rates of the prior period to the figures for the period under review;<\/i><\/li>\n
- \nprice effect:<\/i><\/b> the impact of changes in average selling prices is estimated by comparing the weighted average net unit selling price of a range of related products in the period under review with their weighted average net unit selling price in the prior period, multiplied, in both cases, by the volumes sold in the period under review; and<\/i><\/li>\n
- \nvolume effect:<\/i><\/b> the impact of changes in volumes is estimated by comparing the quantities delivered in the period under review with the quantities delivered in the prior period, multiplied, in both cases, by the weighted average net unit selling price in the prior period.<\/i><\/li>\n<\/ul>
\nBuilding on its unique set of expertise in materials science, Arkema<\/b> offers a portfolio of first-class technologies to address ever-growing demand for new and more sustainable materials. With the ambition to become a world leader in Specialty Materials, the Group is structured into three complementary, resilient and highly innovative segments dedicated to Specialty Materials - Adhesive Solutions, Advanced Materials, and Coating Solutions - accounting for some 85% of Group sales in 2025, and a Primary Materials segment regrouping well-positioned large scale industrials activities. Arkema<\/b> offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of around \u20ac9.1 billion in 2025 and operates in some 55 countries with 20,700 employees worldwide.<\/p> \nARKEMA financial statements<\/span><\/b><\/p>\n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |