Solvay 2018 first quarter results: Strong volume growth counters forex headwinds

03.May 2018 at 07:00:00 CET
 
Underlying EBITDA: €533 million -2.6% (+9% organically [1])
 
Free cash flow from continuing operations: €105 million vs €168 million in 2017
 
2018 outlook confirmed
 
CEO Jean-Pierre Clamadieu: "Solvay's EBITDA grew 9% organically in the first quarter, driven by a continued rise in volumes across our Advanced Materials and Advanced Formulations clusters. As anticipated, foreign exchange headwinds were significant, yet we are encouraged by the positive underlying trends in our key markets. During the quarter, we launched a far-reaching project to simplify our organization to better focus on our customers."
 
Transformation update: Solvay plans to simplify its organization to adapt to its new business portfolio and changing customer base. The initiative will considerably reinforce the financial performance of the Group. 
 
The full pres release and financial report is available on:

All comparisons are made with the equivalent period of the year before, except where mentioned explicitly otherwise.
[1]   Excluding forex conversion and scope effects
  

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Solvay is an advanced materials and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers worldwide in many diverse end markets. Its products are used in planes, cars, batteries, smart and medical devices, as well as in mineral and oil and gas extraction, enhancing efficiency and sustainability. Its lightweighting materials promote cleaner mobility, its formulations optimize the use of resources and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 24,500* employees in 61 countries. Net sales were €10.1 billion in 2017, with 90% from activities where Solvay ranks among the world's top 3 leaders, resulting in an EBITDA margin of 22%. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLB.BR) and in the United States its shares (SOLVY) are traded through a level-1 ADR program.  *Figures take into account the announced divestment of Polyamides.

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You can find here the press release in PDF