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Solvay’s net profit surges 49% in Q1

by ChemOrbis Editorial Team - content@chemorbis.com
  • 06/05/2015 (18:06)
Belgium’s Solvay announced their financial results for the first quarter of 2015 in a press release on their website dated May 6. The company’s net income surged 49% to €158million ($177 million) in the January- March period. Solvay’s core profit adjusted for one-off items (REBITDA) also increased 12% on the year to €502 million ($563 million) in the first quarter, beating the analysts’ estimates which called for a €459 million REBITDA in a survey conducted by Reuters.

The company’s net sales rose 6.4% on the year to reach €2.64 billion ($2.95 billion) from €2.48 billion ($2.77 billion) in the same period of 2014. Among its main business segments, Solvay’s REBITDA in performance chemicals increased 14% year over year to reach €195 million ($218.5 million) while their REBITDA in functional polymers stood at €30 million ($33.6 million), down 24% on the year due to the divestment of Benvic.

The company also stated that they expect to see solid REBITDA growth in 2015.

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