Solvay : 1Q21 EBITDA 9% beat; expect 2021 consensus +3-5%
>1Q21 EBITDA 9% ahead of consensus - Solvay reported better than expected 1Q21 results. Net sales of € 2,373m were down 4% yoy but 2% ahead of consensus (Vara). Volume & mix was 2%, while price was flat. EBITDA of € 583m was up 2% yoy and 9% ahead of consensus. Materials net sales were down 13% yoy at € 689m, 3% above consensus. EBITDA of € 206m was down 10% yoy, but 11% above consensus, as the EBITDA margin was 190bps below consensus at 29.9%. Chemicals net sales of ...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).
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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