Solvay FIRST LOOK: CMD – financial targets set for Syensqo & Solvay
Solvay will hold its CMD today and has set financial targets for Syensqo (SpecialtyCo) and Solvay (EssentialCo). Whilst the sales and uEBITDA margin targets for Syensqo are roughly in line with our forecasts, the targets for Solvay are above our forecasts, with the uEBITDA performance to be supported by a new € 300m savings program. We continue to believe that the upcoming separation will be an important catalyst to unlock shareholder value and we consider valuation to be very attractive at current multiples.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).
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