Solvay S.A.

Solvay is engaged in chemical and plastic businesses worldwide. Co. offers chemical products such as advanced materials, barium strontium, calcium chloride, caustic soda, chlorinated products, fluor, peroxygen products, polyglycerols, precipitated calcium carbonate, soda ash, and sodium bicarbonate. It also provides specialty polymers, such as Spire ultra polymers, Solviva biomaterials, and sulfone polymers. Co. structures its activities around five operating segments: Advanced Formulations, Advanced Materials, Performance Chemicals, Functional Polymers and Corporate & Business Services, each with its own specific business model and each comprised of Global Business Units (GBUs).
  • TickerSOLB
  • ISINBE0003470755
  • ExchangeEuronext Brussels
  • SectorChemicals
  • CountryBelgium
ING
ING Helpdesk

Benelux Morning Notes

Ahold Delhaize: Food Lion expands in three states. Basic-Fit: Belgian, Spanish gyms opening 8 June; NL discussing earlier opening in June. Colruyt: Eying food professionals. Euronext: Milano Finanza article on Borsa Italiana. Kinepolis: Belgium allows cinemas to reopen from 1 July. Sligro: Belgian hospitality sector reopens from 8 June. Solvay: Highlights of CEO/CFO call

Solvay SA: 1 director bought

A director at Solvay SA bought 1,000 shares at 70.185EUR and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board mem...

Alan Vandenberghe ...
  • Guy Sips
  • Wim Hoste

Morning Note: BFIT NA, OPTI BB , SOLB BB

Basic-Fit: All clubs open by 1 July 2020 Crescent: Contributing to the restart of the economy Solvay: Boeing resumes 737 MAX production

Jérôme VINERIER

Analyse court terme - SOLVAY : Les prix baissent.

La tendance de fond est clairement orientée à la baisse. Les prix baissent à nouveau, mais le mouvement est devenu hésitant. Le prochain support est à 98,38 €. La tendance de fond serait remise en cause en cas de franchissement de 119,00 €.

Jérôme VINERIER

Short term view - SOLVAY : Falling prices.

The background trend is clearly bearish. Prices are falling again, but the movement has become hesitant. The next support is at €98.38. The background trend would be questioned should prices rise above €119.00.

Jérôme VINERIER

Analyse court terme - SOLVAY : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 98,38 €, puis 94,15 €. Le franchissement de 119,00 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - SOLVAY : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at €98.38, then €94.15. Passing €119.00 would question the continuation of the fall.

Jérôme VINERIER

Analyse moyen terme - SOLVAY : La tendance est baissière.

La tendance est baissière. Le mouvement se poursuit. Le prochain objectif est à 90,40 €, puis 74,62 €. Le franchissement de 118,58 € remettrait en cause la suite de la baisse.

Solvay SA: 1 director bought

A director at Solvay SA bought 1,000 shares at 70.185EUR and the significance rating of the trade was 57/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board mem...

ING
ING Helpdesk

Benelux Morning Notes

Ahold Delhaize: Food Lion expands in three states. Basic-Fit: Belgian, Spanish gyms opening 8 June; NL discussing earlier opening in June. Colruyt: Eying food professionals. Euronext: Milano Finanza article on Borsa Italiana. Kinepolis: Belgium allows cinemas to reopen from 1 July. Sligro: Belgian hospitality sector reopens from 8 June. Solvay: Highlights of CEO/CFO call

Alan Vandenberghe ...
  • Guy Sips
  • Wim Hoste

Morning Note: BFIT NA, OPTI BB , SOLB BB

Basic-Fit: All clubs open by 1 July 2020 Crescent: Contributing to the restart of the economy Solvay: Boeing resumes 737 MAX production

ING
ING Helpdesk

Benelux Morning Notes

B&S Group: Preview - Health & Beauty should save the day. Solvay: Composite Materials restructuring accelerated, FTE -20%, €60m savings pa.

Joachim Vansanten ...
  • Lenny Van Steenhuyse
  • Sandra Cauwenberghs
  • Wido Jongman
  • Wim Hoste

Morning Note: ARGX BB, ATEB BB, CPINV BB, IVA FP, SOLB BB

Argenx: 1Q20 webcast take aways Atenor: 1Q20 – Still too early to assess impact Covid-19 CP Invest: 1Q20 as expected, good growth Inventiva: 1Q20 financials Solvay: Restructuring program for Composite Materials

Alain William ...
  • Anis Zgaya
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Christophe Chaput
  • Christophe-Raphaël Ganet
  • Emmanuel Matot
  • Geoffroy Michalet
  • Hela Zarrouk
  • Jean-François Granjon
  • Jeremy Garnier
  • Jerôme Bodin
  • Louis Boujard, CFA
  • Martial Descoutures
  • Michael Foundoukidis
  • Nicolas Thorez
  • Oussema Denguir
  • Philippe Ourpatian

ODDO BHF Small & MIDCAP MORNING NEWS - 05/14/2020

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Carole Braudeau

Accor : Credit Feedback – Oddo BHF Forum 10 and 11 January

Our annual Forum in Lyon brought together 263 companies, including 41% of foreign companies, nearly 545 investors (33% foreigners), almost 6,500 one-to-one meetings. - This document gathers a brief feedback from the bond issuers and CB underlying companies in attendance. - - - - >Investment Grade - Accorhotels, Aéroports de Paris, Arkema, Buzzi Unicem, Carmila, Coface, Easyjet, Edenred, Fresenius Medical Care, Grand City Properties, Icade, JCDecaux, Klépierre, Lanxess, MT...

Carole Braudeau

Accor : Feedback Crédit Forum des 10 et 11 janvier 2019

Notre Forum annuel Oddo BHF 2019 vient de se dérouler à Lyon : il a réuni 263 sociétés, dont 41% étrangères, près de 545 investisseurs (33% étrangers), soit près de 6 500 one-to-one. - Ce document synthétise nos feed-back concernant les émetteurs obligataires présents et sous-jacents d’obligations convertibles. - - - >Investment Grade - Accorhotels, Aéroports de Paris, Arkema, Buzzi Unicem, Carmila, Coface, Easyjet, Edenred, Fresenius Medical Care, Grand City Properties,...

Solvay SA - December 2016 (LTM): Peer Snapshot

Peer Snapshot: Solvay SA - December 2016 (LTM) 13 April 2017 (in US millions) FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Sep-16 FYE Dec-14 FYE Dec-15 LTM Dec-16

Alexandre Iatrides ...
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/14/2020

...

Alexandre Iatrides ...
  • Alfred Glaser
  • Anis Zgaya
  • Benoit Valleaux
  • Delphine Brault
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Florent Laroche-Joubert
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Martial Descoutures
  • Matthias Desmarais
  • Philippe Ourpatian
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 14/05/2020

...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 05/06/2020

Faced with uncertainty as to what shape the next recovery cycle may take, we have attempted to build a sector allocation approach based on three pillars: 1/ buy sectors offering an EY - Bund spread higher than the long-term average) 2/ minimise the risk on earnings expectations by favouring sectors for which the speed of revision is higher than that achieved at the same time stage of the crisis in 2008-2009 3/ favour sectors whose price performance is more severe than the decline in e...

Ahmed Ben Salem ...
  • Alfred Glaser
  • Benoit Valleaux
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Geoffroy Michalet
  • Jean Sassus
  • Louis Boujard, CFA
  • Manuel Martin, CEFA,CREA
  • Martial Descoutures
  • Matthias Desmarais
  • Michael Foundoukidis
  • Philippe Ourpatian
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/05/2020

Face à l’incertitude que représente la forme du prochain cycle de reprise, nous avons tenté de bâtir une allocation sectorielle fondée sur trois piliers : 1/ achat de secteurs offrant un spread EY – Bund supérieur à la moyenne de long terme, 2/ minimisation du risque sur les résultats en favorisant les secteurs dont la vitesse de révision est supérieure à celle atteinte, au même stade temporel de la crise, en 2008-09, 3/ favoriser les secteurs dont la performance prix est plus sévère ...

Alexandre Iatrides ...
  • Benoit Valleaux
  • Emmanuel Matot
  • Fehmi Ben Naamane
  • Jean Danjou
  • Johanna Jourdain
  • Martial Descoutures
  • Oussema Denguir
  • Roland Pfaender,MBA,CFA,CCRA
  • Sylvain Goyon, CFA
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 03/17/2020

Applying basic assumptions related to the duration of total confinement measures (still to be taken in western countries) and the partial recovery of lost activity once the epidemic is behind us, we estimate that 2020 EPS will decline by 17% vs 2019. This variation is likely to be amplified as the duration of the confinement increases. Using the instantaneous cost of capital (11.35% at the time of writing), this yields a Stoxx 600 target of 256 points. Don’t catch a falling knife. - ...

An increasingly favourable environment allows SOLVAY SA to improve to Neutral

The independent financial analyst theScreener just upgraded the general evaluation of SOLVAY SA (BE), a company active in the Specialty Chemicals industry. As regards its fundamental valuation, the title confirms its rating of 2 out of 4 stars while its market behaviour remains as risky. theScreener believes, however, that a more enabling environment allows the title to increase its general evaluation to Neutral. As of the analysis date February 7, 2020, the closing price was EUR 97.38 and its expected value was estimated at EUR 99.04.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

Solvay – AGM 12 May 2020

Resolution 2: Ilham Kadri's total compensation amounts to €5,321,151 (including compensation for loss of compensation from previous employment and relocation expenses), i.e. 195% of the median of total compensation of SBF120 executives. It should be noted that she took over the management of the Group on 1 March 2019, which corresponds to only 10 months of presence for the 2019 financial year.   Resolution 4: Concerning the allocation of the result, despite a distribution rate of 326%, this is due to the impairment of € 825 million recorded during the 2019 financial year. Even though this ch...

Pierre-Antoine Bourgoin

Solvay - Assemblée Générale du 12 mai 2020

La rémunération totale d'Ilham Kadri s'élève à 5 321 151 € (comprenant une indemnité pour la perte de rémunération d'un emploi antérieur et les frais de relocalisation), soit 195% de la médiane des rémunérations totales des dirigeants du SBF120. Elle représente 255 SMICs, ce qui excède notre plafond de 240 SMICs. Précisons qu'elle n'a repris la direction du Groupe que le 1er mars 2019, ce qui correspond à seulement 10 mois de présence au titre de l'exercice 2019. Concernant l'affectation du résultat, malgré un taux de distribution de 326%, celui-ci est à relativiser en raison de la dépréciati...

Pauline Delecourt

SOLVAY - Assemblée Générale Extraordinaire des actionnaires du 3 avril 2020

La société propose de renouveler deux autorisations (résolutions 1 et 2) pour une durée de 5 ans. Proxinvest note que dans la nouvelle rédaction de l’article 8 (résolution 2), la société ne prévoit plus la possibilité d’utiliser cette délégation en période d’OPA, ce que Proxinvest félicite. De plus, il est proposé de moderniser les anciens statuts (résolutions 3 et 4) et de les aligner sur les pratiques actuelles. Afin d’aligner les statuts sur le « CAC » (Companies and Associations Code) et de simplifier et moderniser certaines dispositions, il est proposé de remplacer le texte actuel des a...

Expert Corporate Governance Service (ECGS)

Solvay - EGM 3 april 2020

ITEMS 1 and 2: the Company seeks shareholder approval to renew two authorizations for a period of 5 years. ECGS notes that the new text of article 8 (ITEM 2) does not allow the company to use its authorization during a takeover bid anymore. Both authorizations respect ECGS’ guidelines and we recommend shareholders to approve. ITEMS 3 and 4: the Company seeks shareholder approval to align the articles of association with the CAC (Companies and Associations Code), and simplify and modernize certain provisions. Consequently, it is proposed to replace the current text of the articles of associati...

Expert Corporate Governance Service (ECGS)

Solvay - AGM 14 May 2019

This year, the company had an important management change. Indeed, Jean-Pierre Clamadieu resigned from his position as CEO and is replaced by Ilham Kadri. The new CEO will be proposed to the board along with two re-appointments. We regret that the Company continues to grant stock options without performance conditions, even if it is allegedly justified by the fact that the company is Belgian.

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