Arkema is engaged in the global chemical industry which is a processing industry based on the transformation in one or several stages of raw materials (oil derivatives, gas, minerals, natural products) into more or less complex chemical products, or into plastics obtained by polymerization. In addition, Co. manufactures a wide range of products for other major industries: construction, packaging, chemicals, automotive, electronics, food manufacturing, pharmaceuticals, etc. Co. operates in this industrial context with a business portfolio focused on three segments: High Performance Materials, Industrial Specialties, and Coating Solutions.
  • TickerAKE
  • ISINFR0010313833
  • ExchangeEuronext Paris
  • SectorChemicals
  • CountryFrance

Analysts

Carole Braudeau

Accor : Credit Feedback – Oddo BHF Forum 10 and 11 January

Our annual Forum in Lyon brought together 263 companies, including 41% of foreign companies, nearly 545 investors (33% foreigners), almost 6,500 one-to-one meetings. - This document gathers a brief feedback from the bond issuers and CB underlying companies in attendance. - - - - >Investment Grade - Accorhotels, Aéroports de Paris, Arkema, Buzzi Unicem, Carmila, Coface, Easyjet, Edenred, Fresenius Medical Care, Grand City Properties, Icade, JCDecaux, Klépierre, Lanxess, MT...

Carole Braudeau

Accor : Feedback Crédit Forum des 10 et 11 janvier 2019

Notre Forum annuel Oddo BHF 2019 vient de se dérouler à Lyon : il a réuni 263 sociétés, dont 41% étrangères, près de 545 investisseurs (33% étrangers), soit près de 6 500 one-to-one. - Ce document synthétise nos feed-back concernant les émetteurs obligataires présents et sous-jacents d’obligations convertibles. - - - >Investment Grade - Accorhotels, Aéroports de Paris, Arkema, Buzzi Unicem, Carmila, Coface, Easyjet, Edenred, Fresenius Medical Care, Grand City Properties,...

Rob Hales

Morningstar | AKE Updated Forecasts and Estimates from 15 Jan 2019

No-moat Arkema reported third-quarter results that were in line with consensus and our expectations. EBITDA of EUR 374 million was up 5% over 2017. Guidance for a mid-single-digit increase in EBITDA for 2018 was confirmed, in line with our forecast. Like other chemical companies that have already reported this quarter, Arkema noted a changing macroeconomic environment and continued raw material inflation. We think the most important item in the quarter was Arkema's report of a slight normalization in polymethyl methacrylate, or PMMA, at the end of the quarter. The PMMA market has remained tig...

Arkema: Update to discussion of key credit factors following change of outlook to positive

Deleveraging and higher share of specialty chemicals make Arkema more resilient and support change of outlook to positive

Arkema - September 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Moody's changes Arkema's outlook to positive; affirms Baa2 rating

Moody's Investors Service today changed Arkema's rating outlook to positive from stable and affirmed its Baa2 long-term issuer rating. A list of affected ratings can be found below. "By changing Arkema's outlook to positive we have taken into account the deleveraging track record fro...

Arkema - June 2018 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Arkema - December 2017 (LTM): Peer Snapshot

Compares key performance metrics against industry peers.

Rob Hales

Morningstar | AKE Updated Forecasts and Estimates from 15 Jan 2019

No-moat Arkema reported third-quarter results that were in line with consensus and our expectations. EBITDA of EUR 374 million was up 5% over 2017. Guidance for a mid-single-digit increase in EBITDA for 2018 was confirmed, in line with our forecast. Like other chemical companies that have already reported this quarter, Arkema noted a changing macroeconomic environment and continued raw material inflation. We think the most important item in the quarter was Arkema's report of a slight normalization in polymethyl methacrylate, or PMMA, at the end of the quarter. The PMMA market has remained tig...

Emmanuel Matot

Arkema : A high-quality chemicals player at an affordable price

Buy recommendation reiterated based on the company’s repositioning which is now paying off (performances = peers), the expected continuation of solid profit growth (3-year EPS CAGR = +10%) and highly attractive valuation multiples (2019e P/E = 9x). Our target price of € 125 offers 50% upside. - - >The group’s repositioning has had positive impacts, as its performance is now comparable to other European players - Since 2015, Arkema has been delivering results sharply up...

Emmanuel Matot

Arkema : Un chimiste de qualité à un prix très abordable

Recommandation Achat réitérée sur la base d’un repositionnement qui porte ses fruits (performances = comparables), de la poursuite attendue d’une solide progression des profits (TMVA BPA 3 ans = +10%) et de multiples de valorisation particulièrement attractifs (PE 2019e = 9x). Notre objectif de cours de 125 € offre un potentiel de 50%. - >Le repositionnement porte ses fruits, les performances sont dorénavant comparables aux autres acteurs européens - Depuis 2015, Arkem...

Emmanuel Matot

Solvay : Slightly slower momentum in Q3 for Arkema/Solvay – downward revisions to our target prices

>Arkema is sticking to its cautious EBITDA guidance for this year and has made an opportunistic acquisition - Arkema last Tuesday turned in a satisfactory set of Q3 results, with EBITDA continuing to grow (+5% at € 374m vs consensus = € 371m) although the momentum is slowing (H1 = +8%), with increasingly challenging comps (delivering growth since early 2015).Industrial specialities continue to drive performances at the group (particularly fluorogases, thiochemica...

Emmanuel Matot

Solvay : Léger ralentissement de la dynamique au T3 pour Arkema/Solvay – Abaissement de nos objectifs de cours

>Arkema maintient sa guidance prudente d’Ebitda pour cette année et réalise une acquisition opportuniste - Arkema a publié mardi dernier des résultats T3 satisfaisants, l’Ebitda s’inscrivant toujours en progression (+5% à 374 M€ vs consensus = 371 M€) même si la dynamique ralentit (S1 = +8%) avec des bases de comparaison de plus en plus challenging (croissance au rendez-vous depuis début 2015).Les Spécialités industrielles continuent de tirer les performances du ...

2 directors sold after exercising options/sold

Two Directors at Arkema sold after exercising options/sold 21,300 shares at between 107.950EUR and 109.450EUR. The significance rating of the trade was 94/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is re...

Ahmed Ben Salem ...
  • Bruno Cavalier
  • Emmanuel Matot
  • Jean Sassus
  • Jerôme Bodin
  • Léopold Authié
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Veysel Taze
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 11/12/2018

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Emmanuel Matot ...
  • Jean-François Granjon

ODDO BHF Small & MIDCAP MORNING NEWS - 11/12/2018

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Ahmed Ben Salem ...
  • Bruno Cavalier
  • Emmanuel Matot
  • Jean Sassus
  • Jerôme Bodin
  • Léopold Authié
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Veysel Taze
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 12/11/2018

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Emmanuel Matot ...
  • Jean-François Granjon

ODDO BHF Small & MIDCAP MORNING NEWS - 12/11/2018

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Charles Lepetitpas ...
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Jean-François Granjon
  • Jeremy Garnier
  • Nicolas David
  • Oussema Denguir
  • Pierre Corby

ODDO BHF Small & MIDCAP MORNING NEWS - 11/06/2018

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Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Carole Braudeau

Accor : Credit Feedback – Oddo BHF Forum 10 and 11 January

Our annual Forum in Lyon brought together 263 companies, including 41% of foreign companies, nearly 545 investors (33% foreigners), almost 6,500 one-to-one meetings. - This document gathers a brief feedback from the bond issuers and CB underlying companies in attendance. - - - - >Investment Grade - Accorhotels, Aéroports de Paris, Arkema, Buzzi Unicem, Carmila, Coface, Easyjet, Edenred, Fresenius Medical Care, Grand City Properties, Icade, JCDecaux, Klépierre, Lanxess, MT...

Carole Braudeau

Accor : Feedback Crédit Forum des 10 et 11 janvier 2019

Notre Forum annuel Oddo BHF 2019 vient de se dérouler à Lyon : il a réuni 263 sociétés, dont 41% étrangères, près de 545 investisseurs (33% étrangers), soit près de 6 500 one-to-one. - Ce document synthétise nos feed-back concernant les émetteurs obligataires présents et sous-jacents d’obligations convertibles. - - - >Investment Grade - Accorhotels, Aéroports de Paris, Arkema, Buzzi Unicem, Carmila, Coface, Easyjet, Edenred, Fresenius Medical Care, Grand City Properties,...

Jehanne Leroy

Proxy Report - 18/05/2018

The remuneration awarded to Thierry Le Hénaff, Chairman & CEO, was excessive in 2017. He received € 4.5 M and may receive the same amount next year. Moreover the long term years of this directors, François Enaud and Thierry Morin, reduce the independent rate of the board of directors.

Jehanne Leroy

Proxy Report - 18/05/2018

Cette année, Proxinvest attire de nouveau l'attention des actionnaires sur la rémunération attribuée et la rémunération attribuable à M. Le Hénaff qui paraissent excessive. Ainsi en 2017, le Président Directeur Général a perçu un peu plus de 4,5 M d'euros; et pourrait se voir attribuer pas moins de la même somme en 2018. Ces rémunérations excessives sont étonnantes, surtout pour une entreprise étant membre du SBF 120. Le conseil comprendra avec un nouvel administrateur. Cependant deux administrateurs seront requalifiés à raison de leurs anciennetés dans la société. De ce fait, le taux d'indép...

Jérôme VINERIER

Short term view - ARKEMA : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €87.81. The background trend would be questioned should prices rise above €99.54.

Jérôme VINERIER

Analyse court terme - ARKEMA : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 87,81 €. La tendance de fond serait remise en cause en cas de franchissement de 99,54 €.

Jérôme VINERIER

Analyse court terme - ARKEMA : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 87,81 €, puis 84,28 €. Le franchissement de 99,54 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - ARKEMA : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €87.81, then €84.28. Passing €99.54 would question the continuation of the fall.

Jérôme VINERIER

Medium term view - ARKEMA : The trend is uncertain.

The trend is uncertain. Prices are falling and they may accelerate to the downside. A new bearish trend is attempting to emerge.

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