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Belgium’s Solvay posts stronger financial results for Q3

by ChemOrbis Editorial Team - content@chemorbis.com
  • 13/11/2014 (15:29)
According to a press release on the company’s website, Belgium’s Solvay posted stronger results for the third quarter of 2014. The company’s net income rose 12% year over year to €133 million in the third quarter from €86 million reported in the same period of 2013. The company cited external growth, good pricing power and delivery on excellent programs behind its stronger financial results.

The company’s net sales were up 7.9% on a yearly basis to reach €2.585 billion in the third quarter compared with €2.449 billion in the same period of the previous year. The company’s REBITDA (recurring earnings before interest, tax, depreciation and amortisation) also reached €458 million, up 9.5% from the same period of 2013.

Meanwhile, Solvay’s performance chemicals business rose 5.2% year over year to €194 million and its functional polymers section was also up 18% yearly to reach €21 million in the third quarter of this year with the support of high manufacturing yields, broad excellence initiatives and good pricing.
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