COLOMBES, France—Arkema S.A. reported gains in both sales and net income for the first quarter of 2018, thanks in part to integrating adhesives-related acquisitions made by its Bostik S.A. subsidiary.
The firm's sales increased 0.9 percent to $2.59 billion while net income jumped 32.7 percent to $232.6 million.
"These excellent results are supported by the success of our innovation drive in advanced materials, the benefits of increased production capacities in specialty molecular sieves in France and PVDF in China last year, the integration of XL Brands in adhesives and the confirmation of the very good performance of our intermediate chemical businesses," Chairman and CEO Thierry Le Henaff said in a statement.
High Performance Materials—which includes Bostik along with its technical polymers and performance additives businesses—experienced a 2.3 percent jump in sales to $1.19 billion, accounting for 46 percent of Arkema's sales. The firm attributed the increase to a variety of factors, citing Bostik's recent acquisition of XL Brands as one of them.
Its Industrial Specialties sales, which make up 31 percent of Arkema, increased 2.6 percent to $788.4 million while Coating Solutions experienced a 3.4 percent decrease to $604.7 million.