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Elementis PLC - London-based speciality chemicals firm - Says performance in the fourth quarter of 2023 is strong compared to a ‘weak’ final quarter in 2022. As a result, expects adjusted operating profit for 2023 to be in the range of $102 million to $104 million. For 2022, Elementis reported adjusted operating profit of $101 million. Net debt at December 31 is anticipated to be about $201 million, down from $367 million. Looking ahead, Elementis says it remains committed to delivering on its financial targets, which include an operating margin of above 19%, by 2026.
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