WEST PALM BEACH, FL – MacDermid Performance Solutions posted fourth quarter 2016 net sales of $457 million, up 76.4% year-over-year. Organic sales for the segment grew 6.3% sequentially.

For 2016, MacDermid reported net sales of $1.8 billion, an increase of 121% compared to 2015.

Platform Specialty Products, parent of MacDermid, reported fourth quarter net sales of a record $950 million, an increase of 29.2% year-over-year.  Organic sales increased 4.6% sequentially.

Net income was $4 million, compared to a net loss of $130 million for the same period the previous year. Adjusted EBITDA for the fourth quarter was $218 million, up 18.7% year-over-year.

Total company net sales for the full year 2016 were $3.6 billion, up 41% year-over-year. The firm recorded a net loss of $35 million,
compared to a net loss of $309 million in 2015. Adjusted EBITDA for 2016 was $769 million, up 5.8% year-over-year.

“Our revenue growth accelerated significantly in the second half of the year, and our business overall demonstrated resilience in mixed end markets,” said CEO Rakesh Sachdev. “We exceeded our adjusted EBITDA target, generating comparable adjusted EBITDA growth of nearly 6% for the full year on a constant currency basis. Our strong earnings translated into cash flow from operations of $185 million."
Platform expects adjusted EBITDA of $800 million to $830 million in 2017.