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    SOLB   BE0003470755

SOLVAY SA

(SOLB)
  Report
Real-time Quote. Real-time Euronext Bruxelles - 05/14 11:35:07 am
113.15 EUR   -0.48%
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Solvay First-Quarter Net Profit and Sales Fell

05/05/2021 | 01:47am EDT

By Kim Richters

Solvay SA on Wednesday posted a decline in net profit and sales in the first quarter, and said it expects underlying earnings for the full year to be higher compared with 2020.

The Belgian chemical company posted a net profit of 104 million euros ($124.9 million) for the quarter, down from EUR249 million the year prior. Its underlying net profit, which is adjusted for effects like acquisitions, rose 1.8% in the quarter to EUR240 million, beating analysts' expectations of EUR190 million, according to consensus estimates provided by the company.

Earnings before interest, taxes, depreciation and amortization fell to EUR414 million from EUR485 million the previous year.

Net sales for the period fell 4.1% to EUR2.37 billion, mainly due to a 5.9% negative impact from currency and scope, the company said. Sales were up sequentially for the third quarter, "showing improving market conditions across most businesses, especially in automotive, electronics, mining and construction industries," it said.

For 2021, Solvay expects underlying Ebitda between EUR2.0 billion and EUR2.2 billion as well as free cash flow at around EUR650 million, up from a previous forecast of between EUR600 million and EUR650 million. In 2020, its underlying Ebitda was EUR1.95 billion.

Write to Kim Richters at kim.richters@wsj.com

(END) Dow Jones Newswires

05-05-21 0146ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 1.06% 34382.13 Delayed Quote.11.16%
SOLVAY SA -0.48% 113.15 Real-time Quote.16.79%
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More news
Financials
Sales 2021 9 441 M 11 457 M 11 457 M
Net income 2021 643 M 781 M 781 M
Net Debt 2021 3 533 M 4 288 M 4 288 M
P/E ratio 2021 18,5x
Yield 2021 3,31%
Capitalization 11 672 M 14 167 M 14 166 M
EV / Sales 2021 1,61x
EV / Sales 2022 1,48x
Nbr of Employees 23 000
Free-Float 67,0%
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 116,72 €
Last Close Price 113,15 €
Spread / Highest target 28,1%
Spread / Average Target 3,15%
Spread / Lowest Target -24,0%
EPS Revisions
Managers and Directors
NameTitle
Ilham Kadri CEO & Non-Independent Director
Karim Hajjar Chief Financial Officer
Nicolas Jacques Boël Chairman
Philippe Warny Head-Research, Development & Technology
Hervé François André Coppens d'Eeckenbrugge Independent Director
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