Solvay: EBITDA margin improves in Q1
(CercleFinance.com) - Solvay has posted stable EBITDA at 569 million euros for the first quarter of 2020, i.
e. a 0.8-point improvement in its EBITDA margin to 23%, on revenues that are down 3.8% at 2,474 million euros (-4.3% in organic terms).
The chemist says that it benefited from strong demand in health, personal care and consumer goods, agrochemicals, food, automotive and military aviation markets. in addition to disciplined cost management.
Having withdrawn its 2020 forecasts in April, Solvay expects a significant reduction in demand from clients as from the second quarter, although believes that it is too early to predict the full impact that the coronavirus pandemic will have on business.
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