May 6, 2020 / 5:19 AM / a month ago

BRIEF-Arkema Q1 EBITDA Down At 300 Million Euros

May 6 (Reuters) - ARKEMA SA:

* Q1 SALES AT EUR 2.1 BILLION, DOWN 5.7% Y/Y, MARKED BY IMPACT OF COVID-19

* Q1 EBITDA OF EUR 300 MILLION, DOWN 19% Y/Y, MAINLY IMPACTED BY COVID-19 EFFECTS AMOUNTING TO AROUND EUR 45 MILLION

* Q1 ADJUSTED NET INCOME OF EUR 100 MILLION, REPRESENTING EUR 1.31 PER SHARE

* END-Q1 FCF OF NEGATIVE EUR 38 MILLION

* END-Q1 NET DEBT AT EUR 2,481 MILLION (INCLUDING EUR 1 BILLION IN HYBRID BONDS)

* ARKEMA TARGETS EUR 100 MILLION CAPEX REDUCTION VERSUS LEVEL ORIGINALLY PLANNED FOR 2020

* ARKEMA SEES FIXED COSTS TO DECLINE BY EUR 50 MILLION IN 2020 VERSUS 2019

* ARKEMA INTENDS TO CONTINUE IMPLEMENTING TRANSFORMATION STRATEGY PRESENTED ON APRIL 2

* ARKEMA SAYS GLOBAL DEMAND IS EXPECTED TO SLOW SIGNIFICANTLY IN Q2 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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