Solvay FIRST LOOK: 1Q uEBITDA -6%, FY uEBITDA now at lower end of range
1Q uEBITDA dropped by 6% to € 250m and was roughly in line with market consensus and close to our forecast, although supported by a € 10m one-off. Solvay guides for a sequentially weaker 2Q uEBITDA and expects to come in at the lower end of the €1.0-1.1bn range for the full year. Solvay is a base chemicals group with leading market and technology positions in the vast majority of its businesses. The company favours dividends over aggressive growth (c. 7% dividend yield). We maintain our Accumulate rating.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).
We are a financial services provider for several types of professional clients, each with distinct needs.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.