Solvay: record underlying EBITDA margin in Q1

(CercleFinance.com) - Solvay has reported Q1 2021 underlying net profit that is up 1.
8% at 240 million euros, with underlying EBITDA that is up 2.5% at 583 million euros ( +10.3% on an organic basis), for a record margin of 24.6%, up 1.6 point.

The Belgian chemicals group's revenues fell 4.1% to 2.37 billion euros, although increased by 1.9% organically, which it says is thanks to strong demand in the automotive sector, the exceptional performance of Coatis, as well as the recovery in the mining sector.

For 2021, the group expects its underlying EBITDA to be between 2 and 2.2 billion euros, with free cash flow forecast around 650 million euros, up compared to its previous forecast range of 600 to 650 million euros.


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