Solvay : A solid quarter despite the large net pricing headwinds
>Pressure on underlying EBITDA less than expected - A good first set of results for the new Solvay, with Q1 24 group revenues of € 1,201m (+6% vs ccs) reflecting -11.9% yoy organic growth mainly as a consequence of lower prices (-14.5% yoy), partially offset by higher volumes (+2.5% yoy). Q1 24 underlying EBITDA came in much stronger than expected at € 265m (-27.2% yoy, -13.6% organically given the exit from the thermal insulation and energy third parties operations) ...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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