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Solvay announces financial results for Q1

by ChemOrbis Editorial Team - content@chemorbis.com
  • 05/05/2016 (14:53)
Belgium’s Solvay announced their financial results for the first quarter of 2016, according to media reports. The company’s net sales dropped 6% to €2.9 billion in the January- March period while underlying net income was also down 5% to €192 million.

Solvay’s underlying EBITDA increased 2% to €602 million ($694.35 million) in the first quarter, beating expectations which called for a €585 million EBITDA in a survey conducted by Reuters. Among its main business segments, Solvay’s EBITDA in performance chemicals increased 7% year over year to reach €199 million while their EBITDA in functional polymers stood at €65 million, up 54% on the year.
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