Solvay SA
SOLB
ISIN BE0003470755 / Valor 446673
Solvay SA
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About company
Solvay SA is a long-standing chemical company that has been in operation since 1863, known for its innovative solutions in various industries. With a workforce of over 9,000 employees, Solvay focuses on harnessing the power of chemistry to create sustainable solutions for essential needs such as air and water purification, food preservation, health protection, eco-friendly clothing, sustainable tires, and home cleaning products. The company, listed on Euronext Brussels and Paris, reported €4.9 billion in net sales in 2023. Solvay is committed to driving the transition to a carbon-neutral future by 2050, emphasizing its dedication to sustainability and a fair transition.
Summarized from source with an LLMView SourceSector: IndustrialsLatest Results (20.08.2024):
Net Sales
Solvay SA reported underlying net sales of €1,194 million for the second quarter of 2024, which represents a -6.3% decrease compared to Q2 2023. This decline was primarily driven by lower prices, which fell by -11.1%, although volumes saw a positive increase of +4.4%.
EBITDA
In Q2 2024, Solvay SA's underlying EBITDA was €272 million, down -23.7% from the same quarter in 2023. The EBITDA margin also decreased by -5.2 percentage points to 22.8%. The decline was mainly due to lower soda ash prices, although cost-saving initiatives helped mitigate some of the impact.
Net Profit
Solvay SA's underlying net profit from continuing operations for Q2 2024 was €116 million, a significant decrease from €211 million in Q2 2023. This decline reflects the challenging market conditions and lower pricing in key segments.
Free Cash Flow
Free Cash Flow to Solvay shareholders from continuing operations was €120 million in Q2 2024, down from €516 million in Q2 2023. The decrease was due to a strong reduction in working capital in Q2 2023, which was not repeated in Q2 2024.
2024 Outlook
Solvay SA has tightened its guidance for organic growth of underlying EBITDA to a range of “-10% to -15%” for the full year 2024. The company has also upgraded its Free Cash Flow guidance to “higher than €300 million,” with expected Capex between €300 million and €350 million for the year.
Summarized from source with an LLMView SourceKey figures
Performance
Volatility
3357 M
Market cap (USD)
132,673
Daily traded volume (Shares)
30.8 / 29.93
1 day high/low (USD)
52 weeks high/low (USD)
Dividend ex-date
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P/E ratio
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EPS (USD)
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Ratings & reviews
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