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Solvay Q3 sales down 8%
26
Oct '13
Following the filing of Chlorovinyls joint venture plan for EU clearance, Solvay is presenting the associated activities in discontinued operations as from Q3 2013. Accordingly all financials have been restated.

-Group net sales down (8)% yoy at € 2,458 m, with stable volumes, prices (4)%, forex (5)%, scope 1%
-REBITDA at € 439 m, down (13)% yoy against last year’s demanding comparables, up 2% when excluding guar (€ 47m) and CER (€ 30 m) exceptional impacts. All operating segments exceeded last year except for Consumer Chemicals  
-Consumer Chemicals stood at € 77 m, down (52)%, impacted by reductions from last year’s unsustainable guar peak prices   (€ 47 m) and from guar derivatives margins squeeze (€ 28m). Other activities delivered satisfactory performance
-Advanced Materials at € 170 m remained strong near last year highs, overcoming continued weakness at Rare Earths
-Performance Chemicals posted record results at € 202 m, up 3%, with growth across all businesses other than Emerging Biochemicals
-Functional Polymers at € 19 m, with Polyamide results stable versus last year

Previous scope REBITDA (before discontinuing chlorovinyls operations) at € 478 m

-Adjusted EBIT at € 253 m against € 313 m in Q3’12 
-Adjusted Net Income Group share at € 118 m against € 143 m in Q3’12; Adjusted EPS at € 1.43 against € 1.73 last year
-Strong free cash flow at € 224 m; net debt down € 97 m at € 1,475 m
-Announced Interim dividend of € 1.33 gross per share (€ 1.0 net per share) 

Solvay

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