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Solvay's net profit down 87% in fourth quarter

9:44 AM MST | February 27, 2014 | Francinia Protti-Alvarez

Solvay's adjusted net income during the fourth quarter of 2013 totaled €25 million ($34.3 million), diving 87% compared with the fourth quarter of 2012, when the company reported a profit of €198 million, according to the company results released today. Recurring Ebitda also fell 6%, to €384 million, from €407 million the year prior. The drop in profit resulted from nonrecurring items, which includes restructuring expenses related to excellence initiatives and integration plans as well as other costs primarily linked to environmental and...

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