1 August 2017
DETAILS
First half 2017 results
Profit attributable to Solvay share
on an IFRS basis was €613 million.
On an underlying basis it grew 36% to €565 million,
reflecting higher earnings and lower financial charges.
Underlying EBITDA grew 15% to €1,321 million,
reflecting volume growth across
each of the operating segments
and the €38 million one-time gain.
Operational excellence measures more than
offset variable net pricing headwinds,
while one-time gains mitigated increased fixed costs.
The underlying EBITDA margin
grew 0.8 percentage points to 22%.
Free cash flow from continuing operations
doubled to €245 million,
from €123 million in the same period in 2016.
Underlying net debt[1] decreased to
€(5.7) billion from €(6.6) billion at the start of the year,
following the completion of divestments,
such as Acetow.
Net debt on an IFRS basis was €(3.5) billion.
Net sales totaled €6.0 billion, up 11%,
fueled by volume growth and aided by
positive currency effects and price increases.
CEO Jean-Pierre Clamadieu
“In the second quarter, we continued to deliver
volume growth across all segments, which contributed to
strong earnings and cash generation.
Our delivery is consistent with our mid-term financial
and extra-financial objectives.
Solvay’s strategic transformation progressed
with further portfolio upgrades.”
Contact Media relations
Caroline Jacobs
+32 2 264 1530
caroline.jacobs@solvay.com
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