Solvay Group: 3rd quarter and 9 months 2013 Business Review
(Thomson Reuters ONE) -
Brussels, October 25, 2013
Q3 Highlights
Following the filing of Chlorovinyls joint venture plan for EU clearance, Solvay
is presenting the associated activities in discontinued operations as from Q3
2013. Accordingly all financials have been restated.
- Group net sales down (8)% yoy at ? 2,458 m, with stable volumes, prices (4)%,
forex (5)%, scope 1%
- REBITDA at ? 439 m, down (13)% yoy against last year's demanding comparables,
up 2% when excluding guar (? 47m) and CER (? 30 m) exceptional impacts. All
operating segments exceeded last year except for Consumer Chemicals
- Consumer Chemicals stood at ? 77 m, down (52)%, impacted by reductions from
last year's unsustai-nable guar peak prices (? 47 m) and from guar derivatives
margins squeeze (? 28m). Other activities delivered satisfactory performance
- Advanced Materials at ? 170 m remained strong near last year highs, overcoming
continued weakness at Rare Earths
- Performance Chemicals posted record results at ? 202 m, up 3%, with growth
across all businesses other than Emerging Biochemicals
- Functional Polymers at ? 19 m, with Polyamide results stable versus last year
Previous scope REBITDA (before discontinuing chlorovinyls operations) at ? 478 m
- Adjusted EBIT at ? 253 m against ? 313 m in Q3'12
- Adjusted Net Income Group share at ? 118 m against ? 143 m in Q3'12; Adjusted
EPS at ? 1.43 against ? 1.73 last year
- Strong free cash flow at ? 224 m; net debt down ? 97 m at ? 1,475 m
- Announced Interim dividend of ? 1.33 per share (? 1.0 net per share)
Quote of the CEO
During the quarter, excellent results in Advanced Materials and record levels at
Performance Chemicals, sup-ported by strong operational excellence delivery, did
not fully compensate for the ongoing guar-related impacts. With the acquisition
of Chemlogics and the progress made in the set-up of its chlorovinyls joint
venture plan, Solvay is accelerating its transformation.
Outlook
Europe is slowly coming out of recession, and this is expected to lead to a
gradual recovery in demand. In this context we anticipate a relatively more
benign seasonal effect in the fourth quarter. Solvay is restating its out-look
for the year to take into consideration the discontinuation of the chlorovinyls
activity and now expects 2013 REBITDA of around ?1.65 billion, broadly in line
with its former guidance on previous scope.
Here you can find the presentation in PDF
As an international chemical group, SOLVAY assists industries in finding and
implementing ever more responsible and value-creating solutions. The Group is
firmly committed to sustainable development and focused on innovation and
operational excellence. Solvay serves diversified markets, generating 90% of its
turnover in activities where it is one of the top three worldwide. The group is
headquartered in Brussels, employs about 29,000 people in 55 countries and
generated 12.4 billion euros in net sales in 2012. Solvay SA SOLB.BE) is listed
on NYSE Euronext in Brussels and Paris (Bloomberg: SOLB.BB - Reuters: SOLBt.BR).
Lamia Narcisse Caroline Maria Alcon Geoffroy Edward Mackay
Media Relations Jacobs Investor Raskin Investor
+33 1 53 56 59 62 Media Relations Investor Relations
Relations +32 2 264 1984 Relations +32 2 264 3687
+32 2 264 1530 +32 2 264 1540
To read this press release in PDF:
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Source: Solvay S.A. via Thomson Reuters ONE
[HUG#1737958]
Unternehmensinformation / Kurzprofil:
Datum: 25.10.2013 - 07:28 Uhr
Sprache: Deutsch
News-ID 309325
Anzahl Zeichen: 4581
contact information:
Town:
Brussels
Kategorie:
Business News
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