Arkema’s FY guidance looked broadly the same between the Q2 and Q3. The range was however condensed to single figures and the wording was changed a bit. This looks like a guidance revision in our view but was so well done that the management was not questioned about this in the conference call. The Q3 figures were a slight beat to consensus at the profitability level (sales: -3.4%; adjusted EBITDA: +2.7%).