Solvay third quarter 2024 results

Press release - Regulated information published on November 6, 2024, at 7:00 a.m. CET Sound financial performance with acceleration of costs savings Confirmation of the full year 2024 EBITDA and FCF guidanceHighlights Net salesin Q3 2024 amounted to €1,156 million, up +3.9% organically versus Q3 2023, with a positive impact from volumes for the third consecutive quarter, while prices were down year on year. Underlying EBITDAin Q3 2024 was stable at €259 million (-0...

Brussels, 06/11/2024 (informazione.it - comunicati stampa - industria)

Press release - Regulated information published on November 6, 2024, at 7:00 a.m. CET

 

 

 

 

Note: 2023 figures were restated to reflect the changes mentioned in the Financial performance introduction

 

Solvay expects the trends of the first nine months to continue into the last quarter of 2024, with some potential seasonality effects around year-end. 

In that context, Solvay confirms its full year underlying EBITDA guidance of “-10% to -15%” organic growth (or €975 million to €1,040 million, at a 1.10 EUR/USD exchange rate), and expects to be at the high-end of the range. This is supported by the resilience of its businesses and the cost savings that will exceed the target of €80 million for the full year, as the company has been able to accelerate initiatives that were expected to start in 2025.

Solvay keeps its guidance of Free Cash Flow for 2024 at above €300 million, as Capex in the last quarter should further accelerate and reach €300 million to €350 million in 2024.

 

 

 

 

 

 

 

 

Solvay, a pioneering chemical company with a legacy rooted in founder Ernest Solvay's pivotal innovations in the soda ash process, is dedicated to delivering essential solutions globally through its workforce of over 9,000 employees. Since 1863, Solvay harnesses the power of chemistry to create innovative, sustainable solutions that answer the world's most essential needs such as purifying the air we breathe and the water we use, preserving our food supplies, protecting our health and well-being, creating eco-friendly clothing, making the tires of our cars more sustainable and cleaning and protecting our homes. Solvay's unwavering commitment drives the transition to a carbon-neutral future by 2050, underscoring its dedication to sustainability and a fair and just transition. As a world-leading company with €4.9 billion in net sales in 2023, Solvay is listed on Euronext Brussels and Paris (SOLB). For more information about Solvay, please visit solvay.com or follow Solvay on Linkedin. 

 

Safe harbor 

This press release may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. The achievement of forward-looking statements contained in this press release is subject to risks and uncertainties relating to a number of factors, including general economic factors, interest rate and foreign currency exchange rate fluctuations, changing market conditions, product competition, the nature of product development, impact of acquisitions and divestitures, restructurings, products withdrawals, regulatory approval processes, all-in scenario of R&I projects and other unusual items. Consequently, actual results or future events may differ materially from those expressed or implied by such forward-looking statements. Should known or unknown risks or uncertainties materialize, or should our assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly update or revise any forward-looking statements.

Free Cash Flow (FCF) here is the free cash to Solvay shareholders from continuing operations.

 

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