IHS Chemical Week

People & Business :: Earnings/Finance

Solvay reports 13% fall in third-quarter profits, lower sales

5:23 AM MDT | October 25, 2013 | Michael Ravenscroft

Solvay has reported a 13% fall in recurring Ebitda (Rebitda) to €439 million for the third quarter, compared with a Rebitda of €502 million ($692 million) for the year-ago quarter. The company says that excluding 'exceptional guar and effects,' Rebitda rose 2%.  Net sales fell 8%, to €2.46 billion, versus €2.67 billion a year ago. Volumes were stable, but sales were negatively affected 4% by prices and 5% by foreign exchange effects, Solvay says. Net income (adjusted, group share) was €118 million. Gross interim dividend was...

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