Bullish about the outlook for its business up to 2015, U.S. diversified chemicals producer FMC is on track to meet or exceed its aggressive performance targets, CEO Pierre Brondeau said at an investor day in December 2012. Over the past three years, he said the group has been able to capitalize on its "unique strengths" to move closer to its Vision 2015 targets announced in 2010.

FMC now expects to exceed its $5 billion sales target for 2015 by "at least" 10%, Brondeau said. This would mean more than doubling revenue against 2009. At the same time, management expects to meet or exceed its targeted EBIT of $1.2 billion, an increase of about 2.5% against the 2009 figure. The return on invested capital is forecast to remain "well above the target of mid-teens or higher." After an expansion of over 120 basis points since 2009, EBIT Is expected to gain another 230 points up to 2015.

Brondeau said FMC continues to maintain disciplined and balanced cash development. Some 40% of the $1.5 billion deployed over the past three years has been used for organic reinvestment, another 20% for external growth and 35% going to shareholder dividends or share repurchases.
Improved expectations for reportable segments.

In 2015, FMC expects an improved performance by its three business segments. Agricultural Products, driven by a rich organic pipeline, sustained premium margins and a low-cost manufacturing base, is targeted to return sales of around $2.8 billion and EBIT of about $675m in the corporate vision's final year.

For Specialty Chemicals, sales of around $1.2 billion and EBIT of about $275 million are foreseen for 2015. The biopolymers business and an improved lithium performance, along with cost reduction initiatives, are seen as the growth drivers.

FMC's Industrial Chemicals business is expected to deliver sales of around $1.2 billion and EBIT of about $250 million in 2015, propelled by the group's market leadership in soda ash, a continuing shift toward higher value-added specialties in peroxygens and growth in the new Environmental Solutions business unit.

The U.S. chemical producer's management team is "planting the right seeds today to ensure strong, profitable growth well beyond 2015," Brondeau told the conference. "We continue to evolve our portfolio, investing in current product lines and pursuing new ones," he added.

Beyond 2015, the CEO said FMC's growth will be driven by technology investments that support commercial success, continued expansion in fast-growing, rapidly developing economies and the ongoing rebalancing of the group's organizational model that "leverages our size without compromising strong business accountability."