\n| Sales<\/b><\/td>\n | \n | \n2,427.8<\/b><\/p><\/td> | \n | \n2,395.5<\/b><\/p><\/td> | +1.3%<\/b><\/td>\n | \n | \n4,609.6<\/b><\/p><\/td> | \n | \n4,776.3<\/b><\/p><\/td> | \n-3.5%<\/b><\/p><\/td><\/tr>\n\nEBITDA (a)<\/sup><\/b><\/td>\n| \n | \n390.9<\/b><\/p><\/td> | \n | \n363.9<\/b><\/p><\/td> | +7.4%<\/b><\/td>\n | \n | \n673.5<\/b><\/p><\/td> | \n | \n692.5<\/b><\/p><\/td> | \n-2.7%<\/b><\/p><\/td><\/tr>\n\n| Specialty Materials<\/td>\n | \n | \n352.1<\/p><\/td> | \n | \n342.2<\/p><\/td> | +2.9%<\/td>\n | \n | \n630.4<\/p><\/td> | \n | \n666.3<\/p><\/td> | \n-5.4%<\/p><\/td><\/tr>\n | \n| Primary Materials<\/td>\n | \n | \n57.7<\/p><\/td> | \n | \n44.3<\/p><\/td> | +30.3%<\/td>\n | \n | \n90.5<\/p><\/td> | \n | \n75.0<\/p><\/td> | +20.7%<\/td>\n<\/tr>\n | \n| Corporate<\/td>\n | \n | \n-19.0<\/p><\/td> | \n | \n-22.6<\/p><\/td> | \n | \n | \n-47.4<\/p><\/td> | \n | \n-48.8<\/p><\/td> | \n<\/tr>\n | \nEBITDA margin (a)<\/sup><\/b><\/td>\n| \n | \n16.1%<\/b><\/p><\/td> | \n | \n15.2%<\/b><\/p><\/td> | \n | \n | \n14.6%<\/b><\/p><\/td> | \n | \n14.5%<\/b><\/p><\/td> | \n<\/tr>\n | \n| Specialty Materials<\/td>\n | \n | \n17.3%<\/p><\/td> | \n | \n17.0%<\/p><\/td> | \n | \n | \n16.2%<\/p><\/td> | \n | \n16.6%<\/p><\/td> | \n<\/tr>\n | \n| Primary Materials<\/td>\n | \n | \n14.8%<\/p><\/td> | \n | \n12.0%<\/p><\/td> | \n | \n | \n13.0%<\/p><\/td> | \n | \n10.1%<\/p><\/td> | \n<\/tr>\n | \nRecurring operating income (REBIT) (a)<\/sup><\/b><\/td>\n| \n | \n219.5<\/b><\/p><\/td> | \n | \n197.8<\/b><\/p><\/td> | +10.9%<\/b><\/td>\n | \n | \n337.6<\/b><\/p><\/td> | \n | \n358.1<\/b><\/p><\/td> | \n-5.7%<\/b><\/p><\/td><\/tr>\n\nREBIT margin (a)<\/sup><\/td>\n| \n | \n9.0%<\/p><\/td> | \n | \n8.3%<\/p><\/td> | \n | \n | \n7.3%<\/p><\/td> | \n | \n7.5%<\/p><\/td> | \n<\/tr>\n | \nAdjusted net income (a)<\/sup><\/b><\/td>\n| \n | \n129.0<\/b><\/p><\/td> | \n | \n119.7<\/b><\/p><\/td> | +7.8%<\/b><\/td>\n | \n | \n193.7<\/b><\/p><\/td> | \n | \n218.3<\/b><\/p><\/td> | \n-11.3%<\/b><\/p><\/td><\/tr>\n\nAdjusted net income per share (in \u20ac) (a)<\/sup><\/td>\n| \n | \n1.70<\/p><\/td> | \n | \n1.59<\/p><\/td> | \n | \n | \n2.56<\/p><\/td> | \n | \n2.89<\/p><\/td> | \n<\/tr>\n | \n| Operating income<\/td>\n | \n | \n141.4<\/p><\/td> | \n | \n116.0<\/p><\/td> | +21.9%<\/td>\n | \n | \n215.1<\/p><\/td> | \n | \n218.6<\/p><\/td> | \n-1.6%<\/p><\/td><\/tr>\n | \n| Net income - Group share<\/td>\n | \n | \n65.7<\/p><\/td> | \n | \n47.2<\/p><\/td> | +39.2%<\/td>\n | \n | \n92.9<\/p><\/td> | \n | \n96.4<\/p><\/td> | \n-3.6%<\/p><\/td><\/tr>\n | \nRecurring cash flow (a)<\/sup><\/td>\n| \n | \n78.3<\/p><\/td> | \n | \n110.7<\/p><\/td> | \n-29.3%<\/p><\/td> | \n | \n-17.0<\/p><\/td> | \n | \n-26.9<\/p><\/td> | \n<\/tr>\n | \nFree cash flow (a)<\/sup><\/td>\n| \n | \n67.7<\/p><\/td> | \n | \n91.0<\/p><\/td> | \n-25.6%<\/p><\/td> | \n | \n-40.2<\/p><\/td> | \n | \n-63.8<\/p><\/td> | \n<\/tr>\n | \nNet debt and hybrid bonds (a)<\/sup><\/b><\/td>\n| \n | \n3,604.9<\/b><\/p><\/td> | \n | \n3,579.9<\/b><\/p><\/td> | \n | \n | \n3,604.9<\/b><\/p><\/td> | \n | \n3,579.9<\/b><\/p><\/td> | \n<\/tr>\n | \n| \u20ac3,169.6m as of 31\/12\/2025<\/i><\/td>\n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n<\/tr>\n | \n| \n | \n | \n | \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 of June 2026 <\/i>available at the end of the document for reconciliation tables and definitions<\/i><\/td>\n<\/tr>\n<\/table> \nSECOND-QUARTER 2026 BUSINESS PERFORMANCE<\/b><\/p> \nAt \u20ac2,428 million <\/b>(\u20ac2,395 million in Q2\u201925), Group sales<\/b> were driven by organic growth of 3.2% year-on-year. This was supported by a 5.1% price effect, reflecting swift pricing adjustments implemented by the Group to offset the sharp raw material cost inflation, as well as tighter market conditions in upstream acrylics. In an overall demand environment remaining weak with no material change to previous quarters, volumes were down 1.8% compared to last year. Some attractive key markets, namely batteries, electronics and 3D printing continued to show good growth, with around 15% sales increase in the quarter compared to last year. Scope effect was slightly negative at 0.7%, corresponding to the restatement as a non-recurring item of some small plastic additives businesses in connection with their divestment completed on 1 July. Lastly, the currency effect was more moderate than in the first quarter at a negative 1.2%, mainly linked to the devaluation of the US dollar against the euro.<\/p> \nAt \u20ac391 million<\/b>, Group EBITDA<\/b> was solid, up 7.4% year-on-year (\u20ac364 million in Q2'25), mostly driven by the strong performances of Adhesive Solutions and Coating Solutions. Advanced Materials were impacted by the challenging environment in Performance Additives while High Performance Polymers showed a better dynamic than in the first quarter, being broadly stable year-on-year. Primary Materials benefited from the improvement of acrylic spreads, although back to low levels in Asia, partially offset by the decline, as expected, in old-generation refrigerants. Group EBITDA also included a currency headwind of \u20ac10 million compared to last year. Major projects continued to ramp up smoothly during the quarter and their additional EBITDA contribution amounted to around \u20ac25 million in the first half of 2026 compared to last year. In addition, Arkema maintained its strict cost discipline, while streamlining the organization, in line with the objective of offsetting fixed costs inflation over the full year. In this context, EBITDA margin<\/b> increased meaningfully by 90 bps and stood at the good level of 16.1% in the quarter (15.2% in Q2\u201925).<\/p> \nRecurring depreciation and amortization was slightly up versus last year at \u20ac171 million (\u20ac166 million in Q2\u201925). As a result, recurring operating income<\/b> (REBIT) increased by 10.9% to \u20ac220 million<\/b> (\u20ac198 million in Q2\u201925), and REBIT margin improved to 9.0% (8.3% in Q2\u201925).<\/p> \nOperating income<\/b> was up and stood at \u20ac141 million<\/b> (\u20ac116 million in Q2\u201925), including \u20ac46 million of exceptional expenses, mainly corresponding to costs linked to the reorganization of Jarrie and Pierre-B\u00e9nite sites, ongoing legal proceedings and the divestment of some small plastic additives businesses, which was completed on 1 July.<\/p> \nAdjusted net income<\/b> was up 7.8% and amounted to \u20ac129 million<\/b> (\u20ac120 million in Q2'25), i.e.<\/i> \u20ac1.70 per share.<\/p> \nCASH FLOW AND NET DEBT AT 30 JUNE 2026<\/b><\/p> \nRecurring cash flow<\/b> stood at \u20ac78 million <\/b>in the quarter despite the increase in working capital due to higher raw material prices and traditional seasonality. At end-June 2026, working capital represented a good ratio at 15.8% of the annualized sales (17.0% at end-June 2025). Recurring cash flow also included lower capital expenditure than last year at \u20ac117 million (\u20ac152 million in Q2'25), in line with the annual guidance of \u20ac600 million.<\/p> \nFree cash flow<\/b> amounted to \u20ac68 million<\/b> in the quarter (\u20ac91 million in Q2'25), including a non-recurring cash outflow of \u20ac11 million, linked essentially to restructuring costs.<\/p> \nNet debt and hybrid bonds <\/b>stood at \u20ac3,605 million<\/b> at end-June 2026, broadly stable year-on-year (\u20ac3,580 million at end-June 2025), after the \u20ac3.60 per share dividend payment in May 2026 for a total amount of \u20ac272 million. This confirms the solidity of the Group\u2019s balance sheet in weak market conditions. The net debt and hybrid bonds to last-twelve-months EBITDA ratio stood at 2.9x at end-June 2026.<\/p> \nSECOND-QUARTER 2026 PERFORMANCE BY SEGMENT<\/b><\/p> \nADHESIVE SOLUTIONS (30.5% 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 | Q2'26<\/b><\/td>\n | \n | Q2'25<\/b><\/td>\n | Change<\/b><\/td>\n<\/tr>\n\n| Sales<\/b><\/td>\n | \n | \n735.4<\/b><\/p><\/td> | \n | \n715.8<\/b><\/p><\/td> | +2.7%<\/b><\/td>\n<\/tr>\n\nEBITDA (a)<\/sup><\/b><\/td>\n| \n | \n111.0<\/b><\/p><\/td> | \n | \n103.5<\/b><\/p><\/td> | +7.3%<\/b><\/td>\n<\/tr>\n\nEBITDA margin (a)<\/sup><\/b><\/td>\n| \n | \n15.1%<\/b><\/p><\/td> | \n | \n14.5%<\/b><\/p><\/td> | \n<\/tr>\n | \nRecurring operating income (REBIT) (a)<\/sup><\/b><\/td>\n| \n | \n82.7<\/b><\/p><\/td> | \n | \n77.8<\/b><\/p><\/td> | +6.3%<\/b><\/td>\n<\/tr>\n\nREBIT margin (a)<\/sup><\/td>\n| \n | \n11.2%<\/p><\/td> | \n | \n10.9%<\/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 June 2026 available at the end of the document for reconciliation tables and definitions<\/i><\/td>\n<\/tr>\n<\/table> \nSales<\/b> in the Adhesive Solutions segment amounted to \u20ac735 million<\/b> (\u20ac716 million in Q2\u201925), posting 3.8% year-on-year organic growth. Prices were up 3.4%, driven by pricing actions, notably in industrial adhesives, and positive product mix. Volumes increased slightly by 0.4%, supported by a strong growth in high-end solutions for durable goods, both in North America and Europe, in particular in aerospace, consumer electronics and industrial assembly, while volumes in packaging and construction declined. The currency effect was a negative 1.0%.<\/p> \nSegment EBITDA<\/b> was strong at \u20ac111 million<\/b>, up 7.3% year-on-year (\u20ac103 million in Q2'25) and EBITDA margin<\/b> gained 60 bps at 15.1%<\/b> (14.5% in Q2\u201925). This result reflected the improvement of the mix towards higher value-added solutions as well as the swift and disciplined execution of the teams to pass through input cost inflation and tightly manage operations. Achieved in an overall low volume environment, this performance confirms the potential of this segment going forward and highlights the improving quality of its portfolio of technologies.<\/p> \nADVANCED MATERIALS (36% 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 | Q2'26<\/b><\/td>\n | \n | Q2'25<\/b><\/td>\n | Change<\/b><\/td>\n<\/tr>\n\n| Sales<\/b><\/td>\n | \n | \n872.0<\/b><\/p><\/td> | \n | \n899.6<\/b><\/p><\/td> | \n-3.1%<\/b><\/p><\/td><\/tr>\n\nEBITDA (a)<\/sup><\/b><\/td>\n| \n | \n162.9<\/b><\/p><\/td> | \n | \n187.6<\/b><\/p><\/td> | \n-13.2%<\/b><\/p><\/td><\/tr>\n\nEBITDA margin (a)<\/sup><\/b><\/td>\n| \n | \n18.7%<\/b><\/p><\/td> | \n | \n20.9%<\/b><\/p><\/td> | \n<\/tr>\n | \nRecurring operating income (REBIT) (a)<\/sup><\/b><\/td>\n| \n | \n71.1<\/b><\/p><\/td> | \n | \n98.7<\/b><\/p><\/td> | \n-28.0%<\/b><\/p><\/td><\/tr>\n\nREBIT margin (a)<\/sup><\/td>\n| \n | \n8.2%<\/p><\/td> | \n | \n11.0%<\/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 June 2026 available at the end of the document for reconciliation tables and definitions<\/i><\/td>\n<\/tr>\n<\/table> \nSales <\/b>in the Advanced Materials segment stood at \u20ac872 million<\/b> (\u20ac900 million in Q2\u201925), down 1.5% compared to last year at constant exchange rates. Prices increased by 2.1%, benefiting from the pricing initiatives launched by the Group and were up in most of the segment\u2019s businesses. On the other hand, volumes decreased by 3.6%, reflecting the decline in Performance Additives, impacted by the situation in the Middle East, lower demand in some end-markets (refining and fertilizers) and sulfur cost increase. This was partially offset by better volumes in High Performance Polymers, supported by the continuous growth momentum in attractive key markets such as batteries, electronics and 3D printing, as well as the ongoing ramp-up of our major projects. Lastly, the currency effect was a negative 1.6%.<\/p> \nSegment EBITDA<\/b> stood at \u20ac163 million<\/b> (\u20ac188 million in Q2\u201925), impacted by weaker Performance Additives. High Performance Polymers EBITDA was broadly stable, supported by its new business developments in high-end applications as well as the strong achievements of PIAM and in PVDF, while Fluorospecialties were lower year-on-year, against a high comparison base. In this context, EBITDA margin<\/b> for the segment remained at the good level of 18.7%<\/b> (20.9% in Q2\u201925).<\/p> \nCOATING SOLUTIONS (17.5% OF TOTAL GROUP SALES)<\/b><\/p> | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |