WEST PALM BEACH, FL – MacDermid Performance Solutions reported second quarter net sales increased 9% to $502 million.

MacDermid recorded adjusted EBITDA of $117 million, up 14%.  The results include revenue from MacDermid and Alpha Assembly.

Platform Specialty Products, the parent company of MacDermid, reported second quarter net sales of $1.02 billion, up 9% year-over-year. Total net income attributable to common stockholders for the second quarter was $12 million, compared to a net loss of $61 million in the same period of 2017. Adjusted EBITDA increased 10% to $226 million.

“We are pleased to announce our second quarter financial results that demonstrated another quarter of strong sales and earnings growth,” said CEO Rakesh Sachdev. “Once again this quarter, we achieved positive global organic growth in each of Performance Solutions’ primary end markets with strong growth in our Industrial and Offshore business lines. From an adjusted EBITDA perspective, our Performance Solutions segment demonstrated healthy margin improvement.

“For our Performance Solutions segment, which will form the foundation of our new company going forward, this means capitalizing on the supportive macro environment we see in most of our markets and preparing it for its next phase as Element Solutions. As we recently announced, we expect Element Solutions, excluding Arysta, to have an annualized adjusted EBITDA in the range of $450 million to $470 million, after realizing the anticipated benefit of an estimated $25 million in annualized run-rate cost savings we expect to achieve in 2019.”

Platform reaffirmed its prior 2018 adjusted EBITDA guidance of $870 million to $900 million for consolidated Platform.

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