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MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Solvay SA    SOLB   BE0003470755

SOLVAY SA

(SOLB)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 10/30 01:41:43 pm
69.36 EUR   +0.14%
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Solvay 2Q Net Profit Fell on Pandemic Hit on Demand; Sees Tough 3Q, Better 4Q

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07/29/2020 | 02:40am EDT

By Matteo Castia

 

Solvay S.A. on Wednesday reported a fall in second-quarter net profit as the pandemic hurt demand in several sectors and said it expects a challenging third quarter before trading starts to improve in the fourth quarter.

The Belgian chemical company posted a net profit of 109.0 million euro ($127.7 million), compared with EUR318.0 million in the year-earlier period. A consensus estimate compiled on FactSet had expected the company to post a net profit of EUR42.2 million.

First-half net profit came in at EUR345.0 million, down from the EUR608.0 million reported the previous year.

Earnings before interest, taxes, depreciation and amortization--one of the company's preferred metrics which strips out exceptional and other one-off items--was EUR439.0 million for the second quarter, down from EUR624.0 million in the same period last year. Ebitda for the first half was EUR1.01 billion, down from EUR1.20 billion a year earlier.

The company said the pandemic has hurt demand in its aero, auto, oil and gas, and construction markets, while performance has been more resilient in healthcare, food, home, electronics and personal care sectors.

In June, Solvay warned that market headwinds increased significantly during the quarter. It said Wednesday that trading will start improving during the fourth quarter, after an expectedly challenging third quarter.

Still, the company said it expects to deliver EUR300.0 million of cost savings through the full year.

In May, Solvay said it expected a restructuring charge of EUR30 million during the second quarter.

 

Write to Matteo Castia at matteo.castia@dowjones.com

 


Stocks mentioned in the article
ChangeLast1st jan.
LONDON BRENT OIL -0.16% 37.6 Delayed Quote.-38.33%
SOLVAY SA 0.64% 69.7 Delayed Quote.-32.95%
WTI -2.38% 35.335 Delayed Quote.-36.69%
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Financials
Sales 2020 9 088 M 10 589 M 10 589 M
Net income 2020 -1 200 M -1 398 M -1 398 M
Net Debt 2020 2 477 M 2 886 M 2 886 M
P/E ratio 2020 -5,94x
Yield 2020 5,29%
Capitalization 7 162 M 8 351 M 8 345 M
EV / Sales 2020 1,06x
EV / Sales 2021 1,15x
Nbr of Employees 21 465
Free-Float 67,0%
Chart SOLVAY SA
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Technical analysis trends SOLVAY SA
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TrendsBearishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 82,55 €
Last Close Price 69,26 €
Spread / Highest target 50,2%
Spread / Average Target 19,2%
Spread / Lowest Target -6,15%
EPS Revisions
Managers
NameTitle
Ilham Kadri CEO & Non-Independent Director
Nicolas Jacques BoŽl Chairman
Karim Hajjar Chief Financial Officer
Philippe Warny Head-Research, Development & Technology
Charles Casimir-Lambert Non-Independent Director
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