Solvay: stock down after Q3 results

(CercleFinance.com) - Solvay shares are down over 2% in Brussels, following the publication of underlying net income from continuing operations of E108m for Q3 2024, compared with E157m a year ago, with underlying EBITDA flat at E259m.


The Belgian chemicals group's sales totaled almost E1.16bn, up 3.9% organically, with a positive impact from volumes for the third consecutive quarter, while prices were down y-o-y.

Despite these market conditions, our financial performance demonstrates our resilience and our ability to maintain solid earnings. This has been achieved through the acceleration of cost reduction initiatives, management said.

For FY 2024, Solvay confirms its EBITDA and FCF forecasts, and anticipates that its underlying EBITDA will be at the top end of its organic "growth" range of -10% to -15%.


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