The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Jaideep Mukesh Pandya - On Field Investment Research LLP - Analyst
: My first question is on adhesives on the margin performance and well done on that. We're already at 14.4% margin for Q3. And obviously, raw
materials keep continuing to go down. So I just wanted to understand that when we look at 2024, how do we see margins for adhesives? And the
second question really is on PVDF. When we look at the volume environment for PVDF, you've grown volumes marginally, it looks like in Q3. Again,
when you look at dynamics in Asia, how do you see volumes for PVDF recovering in 2024? If you could give us some color. And finally, on patterns,
it seems like your coating customers have started to buy more larger ticket, more volume-oriented products like acrylic acid or solvents for that
matter. So do you see that in 2024, the destock that we've seen in the coating chain will be over, and we will see some normalcy in buying patterns?
Question: Aron Ceccarelli - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: I have a question on PVDF capacity. My understanding is that this year, we have got quite a good chunk of capacity additions from China. And it
looks like there's more to come next year. Maybe can you elaborate around this, please? And my second question is on (inaudible), we continue
to see strength in pricing in both Europe and the U.S. Maybe can you explain a little bit what is driving this?
Question: Jaideep Mukesh Pandya - On Field Investment Research LLP - Analyst
: Just on biochemicals. Obviously, the (inaudible) market has been a bit difficult in the last 12 months. So how has power chemicals, which used to
be very, very solid and stable business for you, how has that evolved in 2023? And how do you see it sort of on a forward basis? And then just an
add-on to that, there is obviously backward integration capacity being built by one of the key players in the U.S. So will that lead to lower earnings
for you in '24, '25 and the sort of the capacity comes on stream? And then just an additional question around Performance Additives is around
molecular (inaudible), which used to be quite a nice profitable business for you guys. So we haven't spoken a lot about this in recent times. How
do you see molecular (inaudible) in current environment?
Question: Jaideep Mukesh Pandya - On Field Investment Research LLP - Analyst
: If I may just ask one follow-up on PVDF. Where are we on the technology evolution for suspension grade for Arkema? Are you guys going to compete
with one of your close competitors there? Or you don't need to be there and you can still grow and sort of upgrade your immersion technology?
Could you give us some color on that, please?
|
