English | 简体中文 | 繁體中文 | 한국어
Share:
2018 first nine months results: Volume growth sustained
Access the full press release & financial report
Details to connect to the 2:00pm analysts & investors call
Underlying EBITDA: €1,725 million -1% (+6% organically [1])
  • Sales and underlying EBITDA grew 6% organically, driven by higher volumes in each operating segment and pricing power.
  • Underlying EBITDA fell 1% overall due to forex conversion headwinds and a small reduction in scope.
  • Third quarter volume growth was softer in Advanced Materials in specific end-markets.
  • EBITDA margin was down slightly at 22%.
  • Advanced Materials: €922 million -2% (+3% organically [1])
    • Volume growth continued in polymers and composites technologies for aeronautics, automotive and healthcare.
    • Sales dipped in smart devices and fluorinated gases used in insulation, mainly in the third quarter, as anticipated.
  • Advanced Formulations: €403 million +4% (+16% organically [1])
    • Volume growth was strong across end-markets, although the growth rate in the North American shale oil & gas market is stabilizing.
    • Pricing power more than compensated for higher raw material prices.
  • Performance Chemicals: €557 million -4% (+2% organically [1])
    • Solid demand and improving soda ash prices limited margin erosion.
    • Peroxides volumes and prices rose in tight market conditions.
Underlying EPS from continuing operations: €6.91 +11%
  • The 19% reduction of net financial charges reflected continued deleveraging and optimization of Solvay's capital structure.
  • Underlying tax rate was 2.5 percentage points lower at 25%.

Free cash flow from continuing operations: €275 million vs €446 million in 2017
  • Free cash flow from continuing operations was lower than in 2017 due to higher working capital needs.
  • Free cash flow to Solvay shareholders increased 7% to €271 million on a strong contribution from discontinued operations and lower financial payments.
  • Interim dividend of €1.44 gross per share, a 4.3% increase [2], will be payable on January 17, 2019.
2018 outlook confirmed
  • Under current circumstances, Solvay expects underlying EBITDA to grow organically at around 5% to 6%, within the range of its initial guidance. Free cash flow from continuing operations is still expected above the 2017 level.
CEO Jean-Pierre Clamadieu: Volumes continued to increase throughout the nine-month period, resulting in 6% organic growth of sales and EBITDA. Advanced Formulations generated strong growth, Performance Chemicals proved resilient, and in Advanced Materials, robust growth in the aerospace and automotive markets compensated for the anticipated softness in smart devices toward the end of the period. While attentive to heightened macro-economic volatility, we expect EBITDA growth and free cash flow generation to range within our initial forecast.
-----
[1] Excluding forex conversion and scope effects
[2] As in previous years, the interim dividend corresponds to 40% of the full year dividend of the prior year.
All comparisons are made with the equivalent period of the year before, except where mentioned explicitly otherwise.

Follow us on twitter @SolvayGroup

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 26,800 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.  

Financial figures take into account the planned divestment of Polyamides.

Media Relations
CarolineJacobsVictoria Binoche
+32 2 264 1530 +33 1 44 94 86 72
Investor Relations
[email protected]Geoffroy RaskinJodi AllenBisser Alexandrov
+32 2 264 2158  +32 2 264 1540 +1 6098604608 +32 2 264 3687




This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Solvay S.A. via Globenewswire

Copyright © Thomson Reuters 2018. All rights reserved.
Press Releases
Alcon files initial Form 20-F registration statement with SEC for proposed spinoff; plans investor days in New York and London  
Nov 13, 2018 22:28 ET
Merger between Eckert & Ziegler BEBIG SA (BEBIG) and Eckert & Ziegler Strahlen - und Medizintechnik AG (EZAG) - Announcement of the filing of the Joint Terms of Merger  
Nov 13, 2018 21:35 ET
Lubrizol to Showcase New Coating Technologies at IDEA19  
Nov 13, 2018 19:29 ET
Avenir LNG Limited - Private Placement Successfully Completed  
Nov 13, 2018 17:58 ET
Inventiva: 2018 third quarter financial update  
Nov 13, 2018 17:45 ET
Stolt-Nielsen Limited: Avenir LNG Limited Private Placement Successfully Completed  
Nov 13, 2018 17:17 ET
Lubrizol Presents Flexible, Soft and High-Performing Estane® 3DP TPU at Formnext 2018  
Nov 9, 2018 21:59 ET
Lubrizol Collaboration Produces Innovative Fashion-Functional Multi-Tech Commuter Jacket  
Nov 8, 2018 23:29 ET
Ana G. Rodriguez Named Lubrizol Corporate Vice President and Chief Human Resources Officer  
Nov 8, 2018 00:59 ET
Eastman Announces Expiration and Results of Offer to Purchase 5.500% Notes Due 2019  
Nov 6, 2018 22:59 ET
More News >>
Copyright © 2018 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 5791 1818

Connect With us: