Solvay posts strong half year

Brussels – Solvay has reported a 5.3-percent rise in net sales for the first half of 2015 at €5.3 billion despite lower volumes of sales, the company announced on 29 July.

The year-on-year increase was mainly as a result of foreign exchange conversion for 8.8 percent, offsetting 2.7-percent lower volumes and 0.6-percent lower prices.

Recurring Earning Before Interest Taxes, Depreciation and Amortization (REBITDA) amounted to just over €1 billion, up 10 percent year-on-year, thanks to the 11-percent impact of foreign exchange conversion.

Income rose in the second quarter by 4.2 percent, while REBITDA was up 8.1 percent in all operating segments.

Performance Chemicals, at €185 million, was up 9 percent year-on-year.

“Many of our businesses delivered robust performance, driven by innovation, particularly at Advanced Materials, as well as pricing power across the board,” said CEO Jean-Pierre Clamadieu.