Elementis PLC Third Quarter Trading Update (7710R)
31 Octubre 2023 - 1:00AM
UK Regulatory
TIDMELM
RNS Number : 7710R
Elementis PLC
31 October 2023
31 October 2023
Elementis plc
Third Quarter Trading Update
Outlook unchanged, delivering resilient performance in line with
expectations.
Elementis plc ("Elementis" or the "Group"), a global specialty
chemicals company, today issues its scheduled trading update for
the three months ended 30 September 2023 ("the quarter").
Third quarter business performance
The Group delivered a resilient performance as expected, in
continued challenging market conditions, with Q3 revenue at a
similar level to that seen in the first and second quarters.
Against the prior year period, revenue was down 5% (down 7% on a
constant currency basis), with lower revenues across both business
segments. We remain focused on self-help actions including new
business opportunities, price management and cost discipline.
Personal Care sales in the quarter were sequentially stable, but
below a strong prior year period. We saw continued strong growth in
Asia.
Performance Specialties delivered resilient performance as
continued market related volume weakness across both Coatings and
Talc was partially offset by pricing and mix benefits.
-- Coatings sales were sequentially stable, though below the
prior year period, with Asia showing modest improvement compared
with the previous two quarters.
-- Talc continued to benefit from self-help actions, with higher
profit compared to the weak prior year period. We continue to focus
on financial turnaround and pursuing new business
opportunities.
Outlook
The Group is well positioned to deliver full-year financial
performance in line with expectations, despite continuing weakness
in underlying macro-economic conditions. Leverage reduction remains
on track supported by continued inventory improvement in Q3.
Paul Waterman, CEO of Elementis, said:
"Elementis delivered a resilient third quarter performance, as
we continued to focus on product innovation and customer
relationships, while maintaining strong cost discipline. Despite
the industry and macroeconomic conditions remaining uncertain, we
remain well positioned to take advantage of growth opportunities
across our market segments.
Following the sale of Chromium earlier this year, Elementis is
now a focused specialty chemicals business. We look forward to
providing detail about our go forward strategy at the upcoming
Capital Markets Day."
Capital Markets Day
Elementis is hosting a Capital Markets Day on 14(th) November,
at WPP, Sea Containers House, London, starting at 2.00 pm GMT.
Webcast will be available for those unable to attend.
Registration for physical and virtual attendance is required, and
can be accessed via the link Viewing "Elementis Capital Markets Day
" (investis-live.com) .
Enquiries
Investors: Eva Hatfield, Elementis plc Tel: +44 7553 340380
Press: Martin Robinson/ Olivia Peters, Teneo Tel: +44 (0) 20
7353 4200
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTNKKBBFBDDOKN
(END) Dow Jones Newswires
October 31, 2023 03:00 ET (07:00 GMT)
Elementis (LSE:ELM)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Elementis (LSE:ELM)
Gráfica de Acción Histórica
De May 2023 a May 2024