Arkema Q2 EBITDA up 5.3 pct, keeps 2008 goal

Thu Aug 7, 2008 3:58am EDT

PARIS, Aug 7 (Reuters) - French chemical group Arkema posted a 5.3 percent rise in second-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) and kept its 2008 financial targets on Thursday.

Arkema, spun off from French oil giant Total in 2006, said EBITDA rose to 158 million euros ($244.9 million) from 150 million a year earlier.

Arkema also reported sales up 1.3 percent to 1.51 billion euros. Sales grew 6.4 percent on a like-for-like basis.

The group kept its 2008 EBITDA margin target of 10 percent but remained cautious about the second half.

"Over the second half of the year, in an economic environment that remains challenging and uncertain, Arkema will continue to take the necessary measures to adapt accordingly," Arkema Chief Executive and Chairman Thierry Le Henaff said in a statement.

In an interview with French daily Le Figaro, Le Henaff said the weakness of the dollar could be an opportunity for the group to expand.

"We have a solid financial structure and perhaps there will be the opportunity to make targeted acquisitions in North America," Le Henaff was quoted as saying.

(Reporting by Dominique Vidalon and Jessica Mead; Editing by Erica Billingham)