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MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Solvay    SOLB   BE0003470755

SOLVAY

(SOLB)
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Solvay : to more than double its SOLEF PVDF capacity in China to meet booming demand in lithium batteries

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11/27/2019 | 08:25am EST

Solvay is reinforcing its leadership in the lithium-ion battery market by more than doubling its production capacity of high performance polymer SOLEF polyvinylidene fluoride (PVDF) at its production site in Changshu, China.

This project supports the Group's recently-announced G.R.O.W. STRATEGY, which focuses investment in high-growth sustainable solutions in materials. The new site production is targeted to be on stream by H1, 2022.

Sustainable mobility is driving double-digit growth demand for PVDF in applications in lithium-ion batteries for electric vehicles, where Asia is the largest market. Solvay's solutions and innovation pipeline in SOLEF PVDF will help its customers optimize energy storage efficiency by increasing the battery's energy density, safety and power. Other growing applications include offshore oil and gas pipes and liners, high purity semiconductors, and membranes for water purification.

'Solvay's decision to raise SOLEF PVDF capacity in Changshu, which follows our recent announcement to raise capacity in Europe, proves our continuous commitment to meeting our customers' needs worldwide,' said Solvay Executive Committee Member Augusto Di Donfrancesco.

Recently, the WORLD ALLIANCE FOR EFFICIENT SOLUTIONS created by the Solar Impulse Foundation recognized the value of SOLEF PVDF as a sustainable (and profitable) solution for a cleaner environment.

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Solvay is an advanced materials and specialty chemicals company, committed to developing chemistry that addresses key societal challenges. Solvay innovates and partners with customers worldwide in many diverse end-markets. Its products are used in planes, cars, batteries, smart and medical devices, as well as in mineral and oil and gas extraction, enhancing efficiency and sustainability. Its lightweighting materials promote cleaner mobility, its formulations optimize the use of resources, and its performance chemicals improve air and water quality. Solvay is headquartered in Brussels with around 24,500 employees in 61 countries. Net sales were EUR10.3 billion in 2018, with 90% from activities where Solvay ranks among the world's top 3 leaders, resulting in an EBITDA margin of 22%. Solvay SA (SOLB.BE) is listed on Euronext Brussels and Paris Bloomberg: SOLB.BB - Reuters: SOLB.BR), and in the United States its shares (SOLVY) are traded through a level-1 ADR program.

Contact:

Tel: +33 1 40 75 81 49

(C) 2019 Electronic News Publishing, source ENP Newswire

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Financials (EUR)
Sales 2019 10 323 M
EBIT 2019 1 492 M
Net income 2019 287 M
Debt 2019 3 495 M
Yield 2019 4,16%
P/E ratio 2019 35,3x
P/E ratio 2020 13,0x
EV / Sales2019 1,25x
EV / Sales2020 1,23x
Capitalization 9 414 M
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Mean consensus HOLD
Number of Analysts 22
Average target price 108,80  €
Last Close Price 91,26  €
Spread / Highest target 47,9%
Spread / Average Target 19,2%
Spread / Lowest Target 4,10%
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Managers
NameTitle
Ilham Kadri Chief Executive Officer & Director
Nicolas Jacques Bol Chairman
Karim Hajjar Chief Financial Officer
Philippe Warny Head-Research, Development & Technology
Jean-Marie Ernest Solvay Non-Independent Director
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