Elementis PLC
ELM
ISIN GB0002418548 / Valor 838444
Elementis PLC
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About company
Elementis PLC is a global specialty chemicals company that focuses on leveraging its expertise in rheology, surface modification, and formulation to address the needs of various industries. The company serves markets including personal care, construction, industrial and architectural coatings, and plastics. By providing advanced chemical solutions, Elementis aids its customers in overcoming significant challenges within these sectors, enhancing product performance and efficiency.
Summarized from source with an LLMView SourceSector: IndustrialsLatest Results (13.06.2024):
Revenue Overview
In 2023, Elementis PLC reported a revenue of $713 million, marking a 3% decrease from the previous year's $736 million. This decline was primarily due to lower volumes influenced by underlying demand weakness and destocking, although partially offset by pricing and mix benefits.
Profitability and Margin Improvement
Elementis PLC saw an increase in adjusted operating profit by 3% to $104 million in 2023, up from $101 million in 2022. The adjusted operating margin also improved, rising from 13.6% to 14.6%, driven by effective pricing strategies and cost reduction efforts.
Debt Reduction and Dividend Reinstatement
The company significantly reduced its net debt by 45% to $202 million in 2023, down from $367 million in 2022. This reduction was aided by the proceeds from the sale of the Chromium business. Additionally, Elementis PLC reinstated dividends, proposing a final dividend of 2.1 cents per share for 2023.
Strategic Progress and Outlook
Elementis PLC made notable strategic advancements in 2023, launching 12 new products and generating $51 million in new business. The company has set ambitious targets for 2026, aiming for $90 million in above-market revenue growth driven by seven growth platforms across Personal Care and Performance Specialties.
Efficiency and Cost Savings Initiatives
In line with its strategic goals, Elementis PLC has implemented new efficiency programs projected to deliver $30 million in annual savings by 2025. These initiatives include the Fit for the Future restructuring program and optimizations in supply chain and procurement processes.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
1285 M
Market cap (USD)
285,334
Daily traded volume (Shares)
1.4 / 1.37
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
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P/E ratio
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EPS (USD)
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Ratings & reviews
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