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Weak demand in Europe weighs on Solvay's first-quarter results

1:56 PM MDT | May 13, 2013 | Ian Young

Solvay posted a 16% fall in first-quarter net income compared with the corresponding period of 2012, to €101 million, on sales down 3%, to €3 billion. Recurring Ebitda (Rebitda) declined 12%, to €454 million, and Ebit decreased 13%, to €250 million. Year-on-year (YOY) comparisons are with pro forma first-quarter 2012 figures, restated following Solvay's business reorganization that became effective on 1 January. Solvay's lower quarterly Rebitda was caused by a 17% fall in Rebitda for the company's performance chemicals business and a 14% drop...

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