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Adjusted EBIT plunges 61% at Solvay Group in Q4
26 Feb '14
3 min read
The Solvay Group announces its 4th quarter and full year 2013 Business Review
Q4 Highlights
• Group net sales at € 2,417 m, down (5)% yoy, with volumes (1)%, prices (3)%, forex (4)% and scope 3%. Allowing for CER phase out, volumes up by 1%
• REBITDA at € 384 m, down (6)% yoy. Allowing for CER phase out, exceptional guar effects and Chemlogics REBITDA up by 8%
• Advanced Formulations (previously named Consumer Chemicals) at € 87 m, down (16)% yoy;
• Advanced Materials at € 160 m, up 18%;
• Performance Chemicals at € 186 m, up 4%;
• Functional Polymers at € 14 m (€ (1) m in 2012);
• Adjusted EBIT at € 131 m (€ 342 m in 2012)
• Adjusted Net Income, Group share at € 25 m (€ 198 m in 2012) mainly due to portfolio related non-recurring items
• Adjusted EPS at € 0.30 (€ 2.39 in 2012)
FY Highlights
• Group net sales at € 9,938 m, down (5)% yoy
• REBITDA at € 1,663 m (€ 1,896 m in 2012), overall flat allowing for CER phase out, exceptional guar effects and Chemlogics
• Adjusted Net Income, Group share at € 378 m (€ 690 m in 2012) mainly due to portfolio related non-recurring items
• Adjusted EPS at € 4.54 ( € 8.37 in 2012)
• Strong FCF at € 524 m; net debt decreased by € 23 m to € 1,102 m. € 1,200 m Hybrid financing accounted as equity
• Stable dividend proposed compared to 2012: € 3.20 gross per share, € 2.40 net
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