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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Solvay SA | EU:SOLB | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.99 | -3.12% | 30.79 | 30.53 | 31.48 | 31.63 | 30.34 | 31.60 | 342,157 | 16:40:00 |
May 4, 2023 at 7 a.m. CET
Solvay first quarter 2023 resultsStrong pricing drives +22% organic EBITDA growth in the quarterUpgraded full year EBITDA and FCF outlook
Highlights
Underlying, (in € million) | Q1 2023 | Q1 2022 | % yoy | % organic |
Net sales | 3,167 | 3,055 | +3.6% | +2.0% |
EBITDA | 839 | 712 | +18.0% | +22.0% |
EBITDA margin | 26.5% | 23.3% | +3.2pp | - |
FCF1 | 125 | 216 | -42.0% | - |
FCF conversion ratio (LTM) | 30.4% | 32.9% | -2.5pp | - |
ROCE (LTM) | 16.7% | 12.3% | +4.4pp | - |
Ilham Kadri, CEO
“I’m pleased to report that we sustained pricing in the context of a higher cost and weaker demand environment, which supported our strong EBITDA performance. We delivered our 16th consecutive quarter of positive free cash flow notwithstanding increased investments, and we intend to adapt working capital levels whilst ensuring that we continue to meet our customers’ needs. We remain focused on investing for growth and further reinforcing our solid foundations as we progress in our journey to separate into two strong, independent companies later this year.”
2023 Outlook update
The company increases its full-year underlying EBITDA organic growth estimate from the previously indicated guidance of between -3% and -9% to a range of between +2% and -5% versus 20222. The Free Cash Flow estimate is also increased from around €750 million to around €900 million.
Register to the webcast scheduled at 14:00 CET here - Link to financial report - Link to financial calendar
1 Free cash flow is free cash flow to Solvay shareholders from continuing operations 2 On an organic basis means at constant forex and scope
Attachments
1 Year Solvay Chart |
1 Month Solvay Chart |
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