WEST PALM BEACH, FL – MacDermid Performance Solutions, a business segment of Platform Specialty Products, reported fourth quarter net sales up 7% to $489 million.
The firm’s total fourth quarter net sales were $1.1 billion, an increase of 12% year-over-year.
MacDermid reported adjusted EBITDA of $112 million for the period, up 1%. Platform’s total adjusted EBITDA was $226 million, an increase of 4%.
Platform posted a net loss attributable to common stockholders for the fourth quarter of $142 million, compared to a loss of $2 million for the fourth quarter of 2016.
“Overall, Platform achieved organic sales growth of 4% and constant currency adjusted EBITDA growth of 7% in 2017, as both businesses grew in most of their key end-markets and geographies,” said CEO Rakesh Sachdev. “We invested in market expansion opportunities and new product development, while at the same time driving incremental cost improvements in our supply chain and our corporate functions, leading to an enhanced adjusted EBITDA margin. We are committed to achieving another year of strong operating results in 2018. Considering the recent strengthening in currencies against the dollar, we are increasing our previously announced adjusted EBITDA guidance range to $870 million to $900 million, which represents an increase of 8% at the midpoint over 2017."
MacDermid posted a net sales increase of 6% for 2017 to $1.9 billion. Platform’s full year net sales were $3.8 billion, up 5% compared to 2016.
MacDermid Performance Solutions includes the MacDermid, Enthone and Alpha Assembly Materials brands.