Solvay reports second quarter sales of 3 billion euros
Raw materials supplier Solvay has announced increased sales and profits in its second quarter 2017 results, with net sales of 3 billion euros (US$3.5 billion), up 11 per cent compared to the same period in 2016.
The company’s overall EBITDA grew 18 per cent to 705 million euros ($829.5 million) in the second quarter, reaching a record 23 per cent margin.
According to the company, this was mostly driven by volume growth across each of the company’s operating segments, which include Advanced Materials; Advanced Formulations; Performance Chemicals; Functional Polymers; and Corporate and Business Services.
Overall the latest quarterly results took Solvay’s net sales for the half year to 6.0 billion euros ($7.1 billion), and EBITDA to 1.3 billion euros ($1.5 billion), up 15 per cent compared to the 2016 period. Underlying EBITDA margin grew 0.8 percentage points to 22 per cent.
CEO Jean-Pierre Clamadieu commented: “In the second quarter, we continued to deliver volume growth across all segments, which contributed to strong earnings and cash generation. Our delivery is consistent with our mid-term financial and extra-financial objectives. Solvay’s strategic transformation progressed with further portfolio upgrades.”