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 | |
---|---|---|---|---|---|---|---|---|---|---|
-0.055 | -1.51% | 3.59 | 3.59 | 3.68 | 3.64 | 3.58 | 3.63 | 90,563 | 20:59:11 |
By Ed Frankl
Solvay SA said Monday that it will raise its full-year guidance after second-quarter results were well ahead of expectations, driven by higher volumes and pricing.
The Belgian chemical company said it expects 2Q sales to be around 3.4 billion to 3.5 billion euros ($3.43 billion-$3.53 billion), with underlying earnings before interest, taxes, depreciation, and amortization of between EUR855 million and EUR865 million.
Stronger volumes and pricing helped overcome cost inflation, with its materials, solutions and chemicals segments contributing to the strong results, the company said.
Solvay said the increase in full-year guidance, which it intends to do at second-quarter results on July 28, would reflect a combination of confidence in short-term trading momentum and potential risks associated with the uncertain macro environment.
The Brussels-based company, however, didn't give details of the guidance raise. Solvay's latest 2022 outlook, published in May, is for underlying Ebitda to grow by mid- to high-single digits, and free cash flow to shareholders to exceed EUR650 million.
Write to Ed Frankl at edward.frankl@dowjones.com
(END) Dow Jones Newswires
July 18, 2022 02:02 ET (06:02 GMT)
Copyright (c) 2022 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