Belgium · Delayed Price · Currency is EUR Solvay Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw resilient performance despite a 9% sales decline and 10% lower EBITDA, supported by strong cash flow, disciplined CapEx, and gains from CO2 rights. Guidance for 2026 is reaffirmed, with H2 expected to improve as cost pressures ease and energy transition advances.
Fiscal Year 2025
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2025 saw resilient margins and strong cash flow despite lower sales and ongoing transformation costs. 2026 guidance reflects continued market headwinds, with disciplined CapEx and focus on competitiveness, sustainability, and selective growth.
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Q3 2025 saw a 7% year-over-year decline in sales and EBITDA, but margins and free cash flow remained solid, aided by a €40 million gain from CO2 emission rights sales. The company maintains its full-year guidance, continues to execute on cost savings and digital transformation, and is investing in high-growth areas like rare earths and electronic grade H2O2.
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Q2 2025 results reflect ongoing market softness, with lower sales and EBITDA due to weak demand and tariff impacts, especially in Soda Ash and Coatis. Cost-saving initiatives and cash flow targets remain on track, while guidance for 2025 anticipates continued challenges.
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Q1 2025 saw a 6% drop in sales and EBITDA, mainly from lower soda ash volumes, while other segments showed resilience. Guidance for 2025 is reaffirmed at the lower end, with cost savings and cash generation prioritized amid ongoing market uncertainty.
Fiscal Year 2024
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2024 results exceeded expectations with resilient EBITDA and strong cash flow despite a tough market. Cost savings, sustainability progress, and a focused capital allocation support a positive outlook, with 2025 guidance reaffirmed and midterm targets maintained.
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Q3 2024 saw a 4% organic sales increase and stable EBITDA, driven by higher volumes and cost savings, despite continued market challenges. Sustainability milestones and a new peroxide license support guidance at the high end of expectations, with strong free cash flow and CapEx acceleration.
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Q2 2024 saw resilient results with stable demand, strong cost discipline, and €46 million in cost savings. EBITDA guidance for 2024 was tightened to -10% to -15%, with free cash flow guidance raised above €300 million. Transformation and digitalization initiatives are progressing well.