Elementis PLC Trading Update (7365Y)
18 Enero 2022 - 1:00AM
UK Regulatory
TIDMELM
RNS Number : 7365Y
Elementis PLC
18 January 2022
Elementis plc
Trading Update
FY 21 adjusted operating profit modestly ahead of
expectations
Leverage reduction on track
Elementis plc ("Elementis" or the "Group"), a global specialty
chemicals company, today issues a trading update for the three
months and year ended 31 December 2021.
Business performance
The Group has delivered a good fourth quarter performance, with
double-digit year-on-year underlying revenue growth, agile supply
chain management and self-help actions. As a result, adjusted
operating profit for 2021 is expected to be in the range of
$105-107m, modestly ahead of expectations*.
-- Coatings performed well in Q4, and ahead of the prior year.
As a result of pricing actions and volume growth, the business will
deliver improved operating margins versus 2020.
-- Personal Care performance in Q4 improved on the prior year.
Demand continued to recover in cosmetics, as social and travel
restrictions begin to ease, albeit still at levels below 2019.
-- Talc performance in Q4 was below prior year as semi-conductor
supply shortages continued to reduce automotive related demand.
-- Chromium performance improved on the prior year as strong
industrial demand was supported by improved pricing trends as
global industry capacity utilisation increased.
In the fourth quarter we have continued to successfully deliver
our Innovation, Growth and Efficiency strategy. For the full year
2021 we launched over 20 new products, won more than $35m of new
business and delivered $10m of in year cost savings.
Balance Sheet
Net debt (excluding lease liabilities) at the end of 2021 is
anticipated to be approximately $400m, representing a leverage
ratio of 2.6x net debt to EBITDA**, and a significant reduction
compared to 3.2x reported at the 31 December 2020.
Full 2021 results will be released on 3 March 2022 at 7am (UK)
and will be available via the Elementis Plc website.
Enquiries
Elementis plc
James Curran, Investor Relations Tel: 020 7067 2994
Tulchan
Martin Robinson Tel: 020 7353 4200
Olivia Peters
* Based on company compiled consensus, the Board believes the
average market forecast for 2021 adjusted operating profit to be
$104m.
**Excluding IFRS 16 impact
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
TSTGPUPUGUPPGBM
(END) Dow Jones Newswires
January 18, 2022 02:00 ET (07:00 GMT)
Elementis (LSE:ELM)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024
Elementis (LSE:ELM)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024