FORT LAUDERDALE, FL – MacDermid Alpha posted fourth quarter net sales increased 26% year-over-year to $343 million. Organic net sales increased 16%.
Adjusted EBITDA was $81 million, up 30%. On a constant currency basis, adjusted EBITDA increased 25%.
For 2020, net sales increased 8% to $1.17 billion compared to 2019. Organic net sales increased 2%.
Adjusted EBITDA was $277 million for the year, up 10% year-over-year on both a reported and constant currency basis.
"In the face of dramatic economic dislocation, Element Solutions grew net sales, adjusted EBITDA, adjusted EPS and free cash flow in 2020,” said Benjamin Gliklich, CEO of Element Solutions, parent company of MacDermid Alpha. “Through the dedication, resolve and responsiveness of our global team, we continued to deliver high-quality service and attention to our customers despite the impediments created by the Covid pandemic. We are grateful to our outstanding organization, which rose to meet these challenges and rapidly adapted to ensure our operations remained reliable and, most importantly, safe for our employees. Combining the resilience and flexibility of our supply chain with robust variable cost management during Covid-related shutdowns, we generated organic profit and cash flow growth. This did not come at the expense of investing for the future through R&D and bolt-on acquisitions and in our people by preserving our employee base despite the crisis. We demonstrated the power of our cash-generative model this year repurchasing 5.7 million shares, funding an acquisition from cash flow and initiating a dividend in the fourth quarter, while also reducing our net debt ratio to less than 3.0x adjusted EBITDA. Investment in 5G infrastructure and new mobile technologies and the development of electric vehicles all gained ground. We expect this year once again to be a record year for our businesses."
PCB EAST: The original East Coast technical conference and exhibition! Returning to the Boston suburbs in June 2021!