Solvay expects record third quarter results and raises full year guidance
Solvay expects record third quarter results and raises full year guidance
Third quarter underlying EBITDA is expected to be around €900 million.
Brussels – October 24, 2022
Based on unaudited preliminary figures, Solvay announces that it expects its third quarter 2022 to reach new sales and EBITDA records. The company expects net sales to be approximately €3.6 billion and underlying EBITDA to be around €900 million, significantly higher than previous estimates. The performance in the quarter reflects supportive demand momentum across many key markets together with continued strong pricing across all three business segments. Free Cash Flow in the quarter will also be strong reflecting the combination of record results and sustained focus on cash generation.
Taking into account both the strong performance year-to-date, and fourth quarter order levels that indicate some weakening, Solvay raises its full-year 2022 EBITDA guidance to be around 28% organic growth relative to full-year 2021. This compares with the company’s previous guidance of 14% to 18% organic growth issued on July 28, 2022.
In the context of the challenging economic conditions, the company will further reinforce cost discipline so as to preserve the resilience of Solvay’s businesses, while continuing to invest in its future growth.
Further details will be provided when the company reports on November 3, 2022.
Safe harbor
This press release may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. The achievement of forward-looking statements contained in this press release is subject to risks and uncertainties relating to a number of factors, including general economic factors, interest rate and foreign currency exchange rate fluctuations, changing market conditions, product competition, the nature of product development, impact of acquisitions and divestitures, restructurings, products withdrawals, regulatory approval processes, all-in scenario of R&I projects and other unusual items. Consequently, actual results or future events may differ materially from those expressed or implied by such forward-looking statements. Should known or unknown risks or uncertainties materialize, or should our assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly update or revise any forward-looking statements.
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