We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Name | Symbol | Market | Type |
---|---|---|---|
Solvay SA (PK) | USOTC:SLVYY | OTCMarkets | Depository Receipt |
Price Change | % Change | Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.07 | -1.92% | 3.58 | 3.58 | 3.75 | 3.60 | 3.56 | 3.60 | 132,015 | 21:44:36 |
By Adria Calatayud
Solvay on Friday set out the capital structures of its two units ahead of a planned split and said both will pursue financial policies consistent with investment-grade ratings.
The Belgian chemicals company last year said it would split itself into two publicly traded companies--EssentialCo, which would house its mono-technology businesses currently part of its chemicals and special chemicals businesses, and SpecialtyCo, comprising its materials segment and the majority of its solutions segment.
Solvay said EssentialCo had underlying earnings before interest, taxes, depreciation and amortization of 1.3 billion euros ($1.42 billion) in 2022, while SpecialtyCo's underlying Ebitda was EUR1.9 billion. EssentialCo's underlying net debt at the and of 2023 is projected to be EUR1.9 billion, while SpecialtyCo's underlying net debt is expected to be EUR1.6 billion, the company said.
Both companies will have other debts including pension and environmental liabilities, Solvay said.
Solvay said 60% of its current dividend will be apportioned to EssentialCo, which is expected to maintain its policy of stable or increasing dividends, with SpecialtyCo assuming the remaining 40% dividend. SpecialtyCo's dividend policy will seek to enable it to invest in growth while reducing debt over time, Solvay said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
June 16, 2023 01:51 ET (05:51 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
1 Year Solvay (PK) Chart |
1 Month Solvay (PK) Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions