Arkema Sa · EURONEXT:AKE
Arkema Sa — FY2025 Earnings Presentation
35 slides from Arkema Sa's earnings presentation, Feb 26, 2026
Slide 1: Full-year 2025 results and highlights
Full-year 2025 results and highlights 26/02/2026
Slide 2: 2025 key takeaways
2025 key takeaways EBITDA within the guidance range in a weak demand environment in the US and Europe, €1,251m while Asia remained more dynamic Group EBITDA Good resilience of Specialty Materials 13.8% overshadowed by the cyclical impact of acrylics Group EBITDA margin and the decline of old-generat
Slide 3: Arkema 2025 overview
Arkema 2025 overview A leader in Specialty Materials with Markets a balanced geographical footprint Building & Construction 38% 34% 27% General Industry €9.1bn 26% sales 24% 28% 30% 33% Consumer goods & Electronics 22% 8% 5% Adhesive Solutions Advanced Materials Europe North America Transportation &
Slide 4: High cash flow generation
High cash flow generation Cash flow €1,180m Continued tight management €1,100m of working capital • 12.5% of annual sales at end-2025 €761m €636m High recurring cash flow • €464m in 2025 (vs €300m revised guidance) • 37% cash conversion rate (vs 27% in 2024) €419m €464m Strong decrease in recurring
Slide 5: Ongoing ramp up of our major projects
Ongoing ramp up of our major projects EBITDA contribution of major projects CAPEX €310m Bio-based Amino 11 and PA11 (Singapore, China) €260m PVDF for batteries, cables and semiconductors (China & US) UV curing resins for electronics and medical (China) €200m Additive for solar energy and polymers (C
Slide 6: Successful industrial start-ups in 2025
Successful industrial start-ups in 2025 DMDS for biofuels Forane® 1233zd for Rilsan® Clear for PVDF for batteries and refineries building insulation consumer goods and semiconductors Beaumont, US Calvert City, US Singapore Calvert City, US +35% x3 +15% Arkema 15 kt Arkema global Arkema capacity new
Slide 7: Acceleration of cost saving initiatives
Acceleration of cost saving initiatives Expecting to deliver 2028 cost savings target Streamlining and simplification two years in advance of the organization €250m Reorganization of Reduction of 2028 target Jarrie and Pierre-Bénite discretionary expenses sites in France in 2025 2026 target ~€90m €1
Slide 8: Ongoing momentum in key attractive markets
Ongoing momentum in key attractive markets Launch of a One Arkema datacenter platform Targeting > €100m sales in 2030 Wide range One Arkema Ultrafine High performance Thermoplastic Fluorospecialties of applications portfolio in specialty and bio-based elastomers and for thermal EV and ESS powders fo
Slide 9: Acceleration in next-generation batteries
Acceleration in next-generation batteries Strategic partnerships Solvent-free in battery separators battery electrodes Two partnerships with Semcorp Inauguration of a laboratory and Senior, global leaders in dedicated to an innovative process battery separator technologies Dry coating process reduci
Slide 10: Innovation driving growth and differentiation more than ever
Innovation driving growth and differentiation more than ever Focus on sustainable innovation 1,800 Polyimide film researchers in aerospace • Zenimid polyimide film Solvent-free PU adhesives used in rollable solar array Enhancing recyclability €1.2bn for satellites of flexible packaging Sales from pr
Slide 11: Consistent dividend policy
Consistent dividend policy Dividend (1) (€/share) Dividend per share €3.60 proposed at the next AGM on 21 May 2026 Total dividend 3.0 3.4 3.5 3.6 3.6 (2) c.€270m representing around 70% of 2025 free cash flow Annual growth 2021 2022 2023 2024 2025 5%/y of the dividend since 2021 (1) Dividend per fis
Slide 12: 2026 debt maturities already refinanced
2026 debt maturities already refinanced 1,100 Issuance of a €500m green bond in September 2025 900 (3.5% rate, 8-year maturity) 1.5% 700 4.25% Called on 21 January 2026 500 500 500 Extended debt1 maturity 400 0.75% 3.5% 3.5% to 4.4 yrs at end-2025 400 400 300 300* 4.8% 4.25% 3.5% 1.5% 0.125% Average
Slide 13: Strong achievements in non-financial performance
Strong achievements in non-financial performance Sustainable solutions Safety Environment Significant progress Solid level maintained Continuous decrease of ImpACT+ score on workforce safety of GHG emissions 57% of sales TRIR at 0.8 -48.7% on Scopes 1+2 vs 2019 2030 target : 60% 2030 target : 0.7 -6
Slide 14: Our employees at the heart of our strategy
Our employees at the heart of our strategy 84% 9.7% of employees satisfied with of Arkema shares the Group as a place to work held by employees (Arkema Cares at 31 December 2025 internal satisfaction survey – 72% for industry benchmark) Top Employer Commitment certification renewed to diversity1 in
Slide 15: Major CSR achievements
Major CSR achievements Recognition of leading Measure of avoided sustainability performance CO2 emissions with award of on innovative products, Ecovadis Gold Medal and with the Net Zero Initiative CDP top ratings maintained methodology supported (A on Climate Change and by Carbone 4 A- on Water Secu
Slide 16: Outlook FY'26
Outlook FY’26 Global macro marked so far by EBITDA Major projects Continuous ramp-up overall weak demand, of major projects adverse currency effects in high value-added Slight growth at +€50m EBITDA and limited visibility innovative applications constant currencies vs 2025 Fixed and Capex Strict man
Slide 17: Revised segmentation from 2026
Revised segmentation from 2026 26/02/2026
Slide 18: New segmentation to better reflect Specialty Materials' dynamics and performance
New segmentation to better reflect Specialty Materials’ dynamics and performance Specialty New segmentation Materials starting in 2026 85% 38% 3 Specialty Materials segments • Resilient and structurally growing platforms • Central to Arkema’s long-term value creation 2025 17% sales Primary Materials
Slide 19: Revised segmentation – Effective from 2026
Revised segmentation – Effective from 2026 ADHESIVE SOLUTIONS ADVANCED MATERIALS COATING SOLUTIONS PRIMARY MATERIALS • Sales : €2.7bn • Sales : €3.4bn • Sales : €1.5bn • Sales : €1.4bn • EBITDA : €365m • EBITDA : €658m • EBITDA : €181m • EBITDA : €133m High Construction & Industrial Performance Coat
Slide 20: Solid resilience of Specialty Materials
Solid resilience of Specialty Materials New segmentation EBITDA evolution over 2019-25 (€m) Mid-term New Specialty Materials outlook Key figures 17.1% 15.7% 15.0% 210 bps Acrylics expected EBITDA margin range to rebound from current low cycle over 2019-25 period conditions -5% Limited EBITDA decreas
Slide 21: High cash generation from acrylic monomers over the cycle
High cash generation from acrylic monomers over the cycle A high cash return business facing increased volatility Key strengths €1.3 bn EBITDA evolution (EU/US) Strong commercial cumulative cash1 positions since 2010 with limited M&A (<€300m) World-scale industrial sites in the 3 regions with a focu
Slide 22: Refrigerant gases accelerating towards next generation
Refrigerant gases accelerating towards next generation EBITDA evolution over 2020-25 (€m) €750m cash generation1 from legacy refrigerants since 2020 (CMD) Legacy refrigerants largely expected to phase out around 2030 Next-generation, low GWP solutions benefiting from innovation and broadened offerin
Slide 23: Key figures on revised segmentation
Key figures on revised segmentation 2025 restated figures under new segmentation Non audited estimates for information purpose only Adhesive Advanced Coating Primary in millions of euros Corporate FY'25 Solutions Materials Solutions Materials Sales 2,737 3,376 1,542 1,380 33 9,068 EBITDA 365 658 181
Slide 24: Detailed Q4 & FY 2025 results
Detailed Q4 & FY 2025 results Full-year 2025 results and highlights 26/02/2026 24
Slide 25: 2025 financial highlights
2025 financial highlights → Down 2.1% vs 2024 at constant FX • Overall weak demand environment in the US and Europe while Asia remained more dynamic €9,068m sales • Negative 2.1% price effect impacted mainly by low cycle in upstream acrylics and unfavorable mix effect in refrigerants linked to the t
Slide 26: Key figures
Key figures in €million Q4’25 Q4’24 Change 2025 2024 Change Sales 2,105 2,273 -7.4% 9,068 9,544 -5.0% EBITDA 248 324 -23.5% 1,251 1,532 -18.3% Specialty Materials 215 311 -30.9% 1,175 1,420 -17.3% Intermediates 46 24 +91.7% 162 198 -18.2% Corporate -13 -11 -86 -86 EBITDA margin 11.8% 14.3% 13.8% 16.
Slide 27: Sales evolution reflecting market conditions and currency effect
Sales evolution reflecting market conditions and currency effect -1.6% -2.1% -2.9% +1.6% Overall weak demand Impact of Devaluation of Integration of Dow’s environment in upstream acrylics the US dollar and laminating adhesives Europe and and old-generation several Asian business North America refrig
Slide 28: Adhesive Solutions (30% of Group sales in 2025)
Adhesive Solutions (30% of Group sales in 2025) Key figures 2025 highlights in €m Q4’25 Q4’24 Change 2025 2024 Change → Sales up 3.6% at constant FX Sales 631 654 -3.5% 2,737 2,722 +0.6% • Volumes down 2.5% EBITDA 70 91 -23.1% 365 412 -11.4% ‒ Overall weak demand in industrial adhesives EBITDA margi
Slide 29: Advanced Materials (38% of Group sales in 2025)
Advanced Materials (38% of Group sales in 2025) Key figures 2025 highlights in €m Q4’25 Q4’24 Change 2025 2024 Change → Broadly stable sales at constant FX Sales 820 881 -6.9% 3,441 3,562 -3.4% • Overall volumes flat and limited price effect EBITDA 113 166 -31.9% 616 707 -12.9% • 2% organic growth i
Slide 30: Coating Solutions (24% of Group sales in 2025)
Coating Solutions (24% of Group sales in 2025) Key figures 2025 highlights in €m Q4’25 Q4’24 Change 2025 2024 Change → Sales down 11.4% Sales 472 565 -16.5% 2,176 2,455 -11.4% • Weak demand in the coatings market, notably in EBITDA 32 54 -40.7% 194 301 -35.5% construction and decorative paints, in E
Slide 31: Intermediates (8% of Group sales in 2025)
Intermediates (8% of Group sales in 2025) Key figures 2025 highlights in €m Q4’25 Q4’24 Change 2025 2024 Change → Sales down 11.3% Sales 175 165 +6.1% 681 768 -11.3% • Strong price decline of 8.6%, linked to EBITDA 46 24 +91.7% 162 198 -18.2% refrigerants in the United States, which have nonetheless
Slide 32: High cash flow generation
High cash flow generation in €million Q4’25 Q4’24 2025 2024 → 2025 tax rate EBITDA 248 324 1,251 1,532 20% of REBIT (excl. exceptional items) Taxes -30 -54 -128 -199 Cash items included in the financial result -29 -17 -112 -58 → Increased cash outflow related Change in working capital and fixed asse
Slide 33: Net debt slightly down
Net debt slightly down in €million 2.5x EBITDA 2025 3,241 - 464 33 55 3,170 296 9 Dividend : €272m Hybrid bonds : €24m Rec. cash Dividends & Share FX and 31/12/2024 M&A 31/12/2025 flow Hybrid bonds buyback others Full-year 2025 results and highlights 26/02/2026 33
Slide 34: Disclaimer
Disclaimer The information disclosed in this document may contain forward-looking statements with respect to the financial condition, results of operations, business and strategy of Arkema. In a context marked by strong geopolitical tensions, where the evolution of the world economy remain uncertain
Slide 35: arkema.com
arkema.com