WEST PALM BEACH, FL -- MacDermid Performance Solutions reported first quarter net sales increased 10% year-over-year to $492 million. 

For the period ended Mar. 31, organic sales increased 4%. Adjusted EBITDA was $112 million, up 9% from a year ago. On a constant currency basis, adjusted EBITDA increased 2%.

MacDermid Performance Solutions includes the MacDermid and Alpha Assembly brands.

Overall net sales at parent company Platform Specialty Products were $964 million, an increase of 12%. Organic sales, which exclude the impact of currency changes and certain metal prices, increased 5%. Net income was $37 million, as compared to a net loss of $24 million. Adjusted EBITDA was $207 million, an increase of 7%. On a constant currency basis, adjusted EBITDA decreased 3%.

"Our Performance Solutions business net sales grew as our end-markets are generally robust and our teams continue to execute well," said Rakesh Sachdev, chief executive officer. "We saw margin pressure from product mix and inflation in our raw materials. We have seen the inflationary commodity environment in late 2017 continue into 2018, and our businesses continue to take actions to offset this pressure."

“Our outlook for the remainder of the year is optimistic given healthy end-markets in our Performance Solutions segment.”

Platform reaffirmed its previously provided adjusted EBITDA guidance for 2018 in the range of $870 million to $900 million. The mid-point of the guidance represents an increase of 8% over 2017.

• Prev
• Next