Solvay: posts fall in underlying H1 EBITDA margin
(CercleFinance.com) - Solvay has published H1 2020 underlying net profit to shareholders of 345 million euros, with an underlying EBITDA margin that is down 1.
2 point to 21.7%, despite favourable pricing trends and cost control measures.
Sales came in at 4,649 million euros, down 11% (-10.8% in organic terms). "Headwinds from aero, auto, oil & gas, and construction markets impacting volumes since April," the Belgian chemist said.
In this context of limited visibility, Solvay predicts another difficult period in the Q3, before an improvement in Q4. It aims to save around 300 million euros in 2020 and free cash flow generation similar to that achieved in 2019.
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2 point to 21.7%, despite favourable pricing trends and cost control measures.
Sales came in at 4,649 million euros, down 11% (-10.8% in organic terms). "Headwinds from aero, auto, oil & gas, and construction markets impacting volumes since April," the Belgian chemist said.
In this context of limited visibility, Solvay predicts another difficult period in the Q3, before an improvement in Q4. It aims to save around 300 million euros in 2020 and free cash flow generation similar to that achieved in 2019.
Copyright (c) 2020 CercleFinance.com. All rights reserved.