SLVYY Solvay SA (PK)

By Pierre Bertrand

Solvay SA on Monday raised its full-year guidance as it said that it expects its third-quarter result boosted by demand and strong pricing.

The Belgian chemicals company said it expects earnings before interest, taxes, depreciation and amortization growth to be around 28% for 2022 compared with last year. This also compares with the previous guidance provided in July of between 14% and 18% growth for 2022.

The company expects third-quarter net sales to be around 3.6 billion euros ($3.55 billion) and underlying Ebitda to be around EUR900 million, it said.

"The performance in the quarter reflects supportive demand momentum across many key markets together with continued strong pricing across all three business segments," Solvay said.

The new full-year guidance takes fourth-quarter order levels into account which indicate some level of weakening, the company said.

Solvay will report its earnings on November 3.

Write to Pierre Bertrand at pierre.bertrand@wsj.com

(END) Dow Jones Newswires

October 24, 2022 02:24 ET (06:24 GMT)

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