IHS Chemical Week

People & Business :: Companies

Solvay's net income up 20%

10:38 AM MDT | May 6, 2014 | Francinia Protti-Alvarez

Solvay reports €121 million ($167.8 million) in adjusted net income for the first quarter, up 20% year-on-year (YOY) and beating the company's previous forecasts, as demand improved and savings measures drove margins higher. Adjusted recurring Ebitda (Rebitda) was about €467 million, up 11% YOY, driven by organic and external volume growth. Adjusted net sales grew 1% YOY, to €2.55 billion. The revenue increase was driven by 3% volume growth and Chemlogics’ 4% contribution but was held back by foreign exchange developments, the company says...

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