May 6, 2026 — Arkema published its financial results for the first quarter of 2026.
Group sales volumes stayed stable year-on-year in Q1, with all specialty materials business segments registering growth. After a slow start at the year’s beginning, business conditions improved notably in March. Performance varied across regions: specialty materials business maintained steady growth in Asia, while overall demand remained weak in Europe and the United States. Arkema achieved a roughly 15% year-on-year increase in high-potential core markets including batteries, sports applications, 3D printing and medical sectors.
The Group posted Q1 EBITDA of €283 million, compared with €329 million in Q1 2025. This result included an adverse foreign exchange impact of approximately €20 million, yet marked a 14% quarter-on-quarter rise from the fourth quarter of 2025. The EBITDA margin stood at 13.0%, down from 13.8% in the same period of 2025. By business division, Coatings Solutions showed strong resilience, Base Materials posted slight growth, and Adhesive Solutions saw a substantial quarter-on-quarter improvement versus Q4 2025. Advanced Materials had a weak start, but is expected to deliver better performance in Q2 backed by high-performance polymers.
Fixed costs remained unchanged year-on-year at constant exchange rates, thanks to continuous organizational streamlining and strict operational management. Starting from March, all business divisions swiftly adopted targeted pricing strategies to cope with soaring input costs driven by the Middle East crisis. Recurring cash flow was negative €95 million, reflecting normal seasonal fluctuations, yet bettered the year-earlier level due to improved working capital ratios.
Outlook
While staying alert to potential impacts of the Middle East crisis on global demand, input costs and supply chain disruptions, the Group confirmed its full-year 2026 target of slight EBITDA growth at constant exchange rates.
Thierry Le Hénaff, Chairman and Chief Executive Officer, stated:
“Following a relatively sluggish January and February, our full first-quarter results came in slightly better than expected, demonstrating solid group resilience. This is mainly attributable to our expansion in key high-growth markets, sustained growth in Asia, and rigorous fixed cost control.
The second-quarter business landscape has turned more challenging amid the Middle East crisis, which has greatly affected the entire supply chain and disturbed the supply and costs of raw materials, energy and logistics. Against this backdrop, Arkema has quickly adjusted pricing strategies and worked closely with suppliers and customers to address challenges. Benefiting from the regionalized manufacturing layout established in past years, we are able to serve customers locally with efficiency.
Meanwhile, Arkema remains fully focused on implementing its strategic shift toward specialty materials. The completion of major growth projects in recent years is set to drive improved performance of Adhesive Solutions and high-performance polymers businesses in the second quarter.”
Detailed Outlook
Under the lingering impact of the Middle East crisis, the Group gives top priority to defusing related shocks. It will leverage operational flexibility and close ties with suppliers and clients to adjust pricing policies, so as to offset cost inflation in raw materials, energy and logistics. Arkema will continue monitoring other potential fallout from the crisis, especially changes in global demand. The current situation may also temporarily tighten supply-demand balance in certain value chains, bringing upward momentum to the chemical industry.
In addition, Arkema will keep tightening operational management and cost control to hedge against fixed cost inflation, and push forward key projects. These projects are expected to add around €50 million to annual EBITDA in 2026 compared with 2025. The Group will cap its 2026 capital expenditure at approximately €600 million, leaving room for targeted investments in high-potential markets.
Based on the above factors, Arkema maintains its target of modest full-year EBITDA growth at constant exchange rates for 2026.
Furthermore, Arkema will steadily advance its specialty materials strategic roadmap. By deploying cutting-edge innovation, strengthening customer partnerships and optimizing its technology portfolio, the Group commits to developing low-carbon solutions and driving progress toward a more sustainable world.
