Solvay Company Report
No-moat Solvay reported fourth-quarter results that were in line with consensus but slightly ahead of our expectations due to strong performance in advanced materials. Fourth-quarter EBITDA increased 2.5% over 2017 while full-year EBITDA growth was flat. However, 2018 guidance was based on organic growth. On this measure, 2018 EBITDA growth was 5.3%, in line with guidance of 5%-7%. Guidance for 2019 is relatively vague compared with last year. This is probably the reason behind the roughly 5% de...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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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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