Global specialty chemicals company Elementis plc (ELM), on Tuesday, issued a Q1 trading update and reported adjusted operating profit and margins exceeding those of the same period last year, despite a challenging global demand environment.
Although constant currency revenue saw a slight decline of about 2% compared to a strong prior-year performance, Elementis continued to make progress through its self-help initiatives, including pricing strategies.
Personal Care sales experienced marginal growth on a constant currency basis, with the Cosmetics segment remaining largely stable despite subdued demand in Asia and a weaker mix. Profitability and margins in this sector improved compared to Q1 2024. Performance Specialties recorded a modest decline in sales, primarily due to weaker demand for Coatings. However, the sector's profitability benefited from the improved performance of Talc.
Coatings sales decreased in the mid-single-digit range compared to last year, reflecting a softer market for architectural and industrial coatings, particularly in Asia and EMEA.
Meanwhile, Talc sales were slightly ahead of the previous year's figures. Elementis maintained strong cash generation in Q1, in line with expectations.
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