Solvay S.A. : Solvay outlines strong sustainable growth potential at its Investor Update
24 Septembre 2018 - 7:00AM
- Mid-term annual growth potential
for underlying EBITDA of 6 to 9% organically, and for free cash
flow to shareholders of 10 to 15%;
- Greenhouse Gas Emission (GHG)
commitment, expressed in absolute terms, more than offsetting the
anticipated business growth impact
Brussels, September
24, 2018 --- Solvay will today update investors in London
on its portfolio, and illustrate the key markets and key levers
that will enable the Group to deliver superior and sustainable
value growth.
"Under Jean-Pierre's
leadership, Solvay is now a leading advanced materials and
specialty chemicals company," said Nicolas Boël, Chairman of
Solvay's Board of Directors. "After a thorough
search process, we expect to be in a position to announce the
appointment of a new CEO in the next few weeks. The new CEO's
primary mission will be to unleash the potential of what we have
built and to create further sustainable value for all
stakeholders. "
"Solvay's profound
transformation has delivered strong profits, cash and returns.
Looking ahead, Solvay will leverage on its differentiated
technologies and its simpler, customer-focused organization to
continue to innovate and generate superior growth," said
Jean-Pierre Clamadieu, Chief Executive Officer of Solvay.
"We have also set CO2 reduction targets in
absolute terms, ensuring that our growth does not come at the
expense of the planet, and placing us at the forefront of the
chemical industry."
Solvay's mid-term growth potential over
2019-2021 for organic underlying EBITDA is 6 to 9% on average per
year and is based on:
- 6 to 10% growth potential in Advanced Materials,
driven by leading market positions and unmatched combination of
high-performance polymer and composite technologies, which offer
solutions for next generation mobility, mainly to improve energy
efficiency of aircraft and cars;
- 6 to 10% growth potential in Advanced
Formulations, driven by leading market positions and tailored
surface chemistry solutions mainly to improve resource efficiency
in mining, oil & gas and agro, while minimizing the
environmental impact;
- 2 to 6% growth potential in Performance
Chemicals, based on recovery in the soda ash business, reflecting
its global leadership with world-class assets.
Free cash flow to Solvay
shareholders has the potential to grow by 10 to 15% on average per
year. Continued disciplined capital spend and lower financial
charges from expected deleveraging should contribute to the strong
growth.
Cash Flow Return On Investment
(CFROI) has the potential to increase 50 to 100 basis points over
the next three years, cementing returns firmly in the value
creation zone, a level that was reached in 2018 for the first time
in more than a decade.
Solvay also updated its greenhouse
gas emissions approach. Solvay commits to reduce greenhouse gas
emissions by 1 million tonnes by 2025, by improving its energy
efficiency, the energy mix and by investing in clean technologies.
In setting an objective in absolute terms, it is among the first
chemical groups to decouple its emissions from its growth..
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Solvay
is an advanced materials and specialty chemicals company, committed
to developing chemistry that addresses key societal challenges.
Solvay innovates and partners with customers worldwide in many
diverse end markets. Its products are used in planes, cars,
batteries, smart and medical devices, as well as in mineral and oil
and gas extraction, enhancing efficiency and sustainability. Its
lightweighting materials promote cleaner mobility, its formulations
optimize the use of resources and its performance chemicals improve
air and water quality. Solvay is headquartered in Brussels with
around 26,800 employees in 61 countries. Net sales were €10.1
billion in 2017, with 90% from activities where Solvay ranks among
the world's top 3 leaders, resulting in an EBITDA margin of 22%.
Solvay SA (SOLB.BE) is listed on Euronext
Brussels and Paris (Bloomberg: SOLB.BB -
Reuters: SOLB.BR) and in the United States its
shares (SOLVY) are traded through a level-1
ADR program. Financial figures take into account
the announced divestment of Polyamides. |
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Source: Solvay S.A. via Globenewswire
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