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Solvay Reports Decrease in Net Profits, Increase in Sales

6:37 AM MDT | May 8, 2012 | Sotirios Frantzanas

Solvay says net earnings, and operating profits before depreciation, amortization, non-recurring items, financial charges, and income taxes (Rebitda) decreased by 51% and 9% in the first quarter of 2012, to €125 million ($163 million) and €523 million compared with €255 million and €574 million, respectively, on a proforma basis, in the first quarter of 2011. Net sales, however, increased 3% year over year, to €3.24 billion in the first quarter of 2012 despite 3% lower volumes, reflecting a 4% increase in selling prices, strong...

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