Solvay accelerates transformation momentum and unleashes value
(Thomson Reuters ONE) -
* Accelerating transformation through portfolio upgrade and excellence
measures
* Anticipating and delivering solutions that meet customers' sustainability
challenges
* Improving growth, returns and resilience
* Confirming 2016 financial targets
Bollate, Italy, June 10, 2015 --- Solvay is holding a Capital Markets Day to
update investors and analysts on its strategy and performance. Solvay reaffirms
the strategic direction and 2016 financial targets it set in 2013, and discusses
its progress since.
"Solvay is forging ahead with its transformation to increase its growth, returns
and resilience," said Jean-Pierre Clamadieu, Chief Executive Officer of Solvay.
"At the heart of our strategic choices are the key megatrends of constrained
resources, changing demographics and accelerating innovation. In providing the
solutions that anticipate and address our customers' sustainability challenges
we create value for them and for Solvay. Our transformation progress, in terms
of portfolio and operational results, enables us to confirm our 2016 financial
targets."
Solvay confirms its target to grow REBITDA by an annual average of 10% for the
three years from 2013. At this rate, REBITDA should reach ?2.3 billion to ?2.5
billion in 2016 at current Group perimeter, that is, even after the Eco Services
sale, and at current market conditions. It also confirms that CFROI* should
increase at least 100 basis points by 2016, with a continued focus on cash
conversion and on returns. Due to the strong delivery so far of its excellence
programs in operations, commercial activities and innovations, Solvay estimates
they will contribute ?800 million to REBITDA in 2016 instead of ?670 million as
previously forecast.
Solvay has been upgrading its portfolio, and will continue to do so, through
divestments, including its European chlorovinyls activities, as well as
through disciplined investments mainly in its growth engines. Acquisitions
complete our market-specific offerings, such as Ryton® and Flux® in automotive,
and selective capital investments focus on new growth opportunities, capacity
expansion and efficiency improvement.
The event, which includes presentations on Solvay's businesses Novecare,
Peroxides, Soda Ash & Derivatives and Special Chem, is hosted at the
headquarters of Specialty Polymers, a star performer within the Advanced
Materials "growth engine" segment. Specialty Polymers is exemplary in its
agility to innovate for customer needs, pushing the limits of metal replacement,
creating new markets and generating superior growth. Its industry-leading
products include innovative applications for smart devices, and new classes of
materials for light-weighting, electrification and powertrain efficiency, all
contributing to CO2 emissions reduction in transportation. Specialty Polymers
has the attributes to enhance its contribution to the Group's value-creative
growth in the next years.
*CFROI = Cash Flow Return on Investment; progression versus YE 2012
Follow us on twitter (at)SolvayGroup
+------------------------------------------------------------------------------+
|As an international chemical group, Solvay assists industries in finding and|
|implementing ever more responsible and value-creating solutions. Solvay|
|generates 90% of its net sales in activities where it is among the world's top|
|three players. It serves many markets, varying from energy and the environment|
|to automotive and aerospace or electricity and electronics, with one goal: to|
|raise the performance of its clients and improve society's quality of life.|
|The group is headquartered in Brussels, employs about 26,000 people in 52 |
|countries and generated 10.2 billion euros in net sales in 2014. Solvay|
|SA SOLB.BE) is listed on Euronext in Brussels and Paris (Bloomberg: SOLB.BB -|
|Reuters: SOLB.BR). |
+------------------------------------------------------------------------------+
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To read this release in PDF:
http://hugin.info/133981/R/1927058/691872.pdf
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Source: Solvay S.A. via GlobeNewswire
[HUG#1927058]
Unternehmensinformation / Kurzprofil:
Datum: 10.06.2015 - 07:00 Uhr
Sprache: Deutsch
News-ID 399377
Anzahl Zeichen: 5705
contact information:
Town:
Brussels
Kategorie:
Business News
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