WEST PALM BEACH, FL -- Platform Specialty Products announced second quarter sales at its MacDermid Performance Solutions unit increased 6% year-over-year to $462 million.
Organic sales were up 6% as well, the firm added.
Adjusted EBITDA at MacDermid was $103 million, an increase of 5%. On a constant currency basis, adjusted EBITDA increased 7%. Additional cost synergies within the Performance Solutions segment of $5 million were achieved in the quarter from ongoing integration.
Overall net sales increased 2% to $941 million, while the net loss attributable to common stockholders was $61 million. Adjusted EBITDA increased 6% to $205 million.
The company raised the low-end of its full year 2017 adjusted EBITDA guidance to $810 million for an adjusted EBITDA guidance range of $810 million to $830 million.
Chief executive Rakesh Sachdev said, “The combined Platform businesses demonstrated another solid quarter of growth in organic sales and adjusted EBITDA in the second quarter of 2017. Driven by strong global demand for our industrial chemistries and an acceleration in sales of our electronics assembly solutions, particularly in Europe and Asia, we achieved strong organic sales growth in our Performance Solutions business.”
MacDermid Performance Solutions includes Alpha Assembly Solutions, Enthone and MacDermid.
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