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Solvay: raises targets for 2022

( - Solvay has raised its underlying EBITDA estimate for 2022 from mid-to-high single digit organic growth to 14% to 18% organic growth, and is raising its FCF estimate from 650 million euros to around 750 million euros.

The estimates reflect a modest decline in demand in line with the generally negative economic outlook, and do not assume significant natural gas supply-related discontinuities in Europe, the chemical company said.

In Q2 2022, the group increased its underlying earnings by around 67% to 462 million euros, with its underlying EBITDA by 35% to E864 million, reflecting volume and price growth that drove 32.6% organic revenue growth.

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