Solvay: underlying net income slumps 42% in 2020

(CercleFinance.com) - Solvay has reported underlying net income that is down 42.
5% at 618 million euros and an underlying EBITDA margin that is down one point at 21.7% in 2020, for sales that are down 12.5% at 8.96 billion euros (-10% in organic terms).

Despite a difficult year in 2020, the Belgian chemicals company achieved record free cash flow of 963 million euros and will propose a total dividend of 3.75 euros gross per share, subject to shareholder approval.

Regarding its outlook, the group expects Q1 2021 EBITDA of 520 to 550 million euros, with FY 2021 FCF of 600 to 650 million euros.


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