KBC Securities - Solvay SA (SOLB) SOLVAY - Vehicle electrification accelerates growth potential of automotive business SOLB BB

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KBC Securities

Wim Hoste

SOLVAY - Vehicle electrification accelerates growth potential of automotive business SOLB BB

In a webinar focused on the automotive end-market for Solvay’s Materials cluster, we retain a lot of confidence on both the growth and profitability potential, driven by the ongoing electrification of transportation. Overall, we continue to appreciate Solvay for the combination of solid leadership positions, sizeable self-help potential (€125m savings left beyond 2021), potential strategic transformation (sale of soda ash seems in the cards) and attractive valuation. We maintain our Accumulate rating and € 120 TP.

03/02/2022 1 EN

Underlying

Solvay SA

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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BE0003470755 Euronext Brussels Belgium

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KBC Securities

We are a financial services provider for several types of professional clients, each with distinct needs.

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Analysts

Wim Hoste

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SOLVAY - Vehicle electrification accelerates growth potential of automotive business SOLB BB

We are a financial services provider for several types of professional clients, each with distinct needs.

Participation notifications by The Goldman Sachs Group

Notifications de participation par The Goldman Sachs Group

Participatiemeldingen van The Goldman Sachs Group

DSM-Firmenich Biting the ANH bullet

Morning Notes : DSFIR NA, RET BB

Retail Estates 9m25/26 results, hit by Dutch Tax bill and Bankruptcies

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