Solvay publishes 2023 quarterly information following restatement and new segmentation reporting

Published

Press release                                                                         published on April 15, 2024, at 6:00 p.m. CEST

Solvay publishes unaudited underlying Sales and EBITDA for the four quarters of 2023, before and after the restatements announced in the March 13th 2024 press release:

Summary table with Underlying EBITDA and Net Sales impacts:

in € million impact Underlying EBITDA Underlying net sales
2023 underlying figures, as published   1,246 4,880
phase-out thermal insulation business scope -54 -107
phase-out third party energy supply activities scope -41 N/A
Dis-synergies, net of the “Transition Services Agreement” mark-up scope -12 N/A
Zhenjiang scope -8 -25
Peroxidos do Brasil APM +23 +163
2023 underlying figures, new base   1,154 4,911

This restated consolidated financial information provides for underlying Sales and EBITDA detailed information for the four quarters of 2023 for the new reporting segments:

  • Basic Chemicals host chemical intermediate businesses focused on mature and resilient markets. Solvay is a world leader in soda ash, bicarbonate, and peroxides. These global businesses share similar economic characteristics and serve major markets that include building and construction, consumer goods, and food.
  • Performance Chemicals host a wider range of products (in our Silica, Coatis and Special Chem businesses) that are subject to customization based on unique formulations and application expertise. These businesses share similar economic characteristics and are also high-quality assets with strong positions in their markets.
  • Corporate: comprises corporate and other business services, such as its Global Business services, as well as Procurement and Energy expertise.

It also reflects the transfer of the “eH2O2” (electronic-grade hydrogen peroxide) business from GBU Special Chem to GBU Peroxides (net sales of €109 million, underlying EBITDA of €34 million in 2023), as if it had happened on January 1st, 2023.

About Solvay

Solvay, a pioneering chemical company with a legacy rooted in founder Ernest Solvay's pivotal innovations in the soda ash process, is dedicated to delivering essential solutions globally through its workforce of over 9,000 employees. Since 1863, Solvay harnesses the power of chemistry to create innovative, sustainable solutions that answer the world’s most essential needs such as purifying the air we breathe and the water we drink, preserving our food supplies, protecting our health and well-being, creating eco-friendly clothing, making the tires of our cars more sustainable and cleaning and protecting our homes. As a world-leading company with €4.9 billion in net sales in 2023 and listings on Euronext Brussels and Paris (SOLB), its unwavering commitment drives the transition to a carbon-neutral future by 2050, underscoring its dedication to sustainability and a fair and just transition. For more information about Solvay, please visit solvay.com or follow Solvay on Linkedin.

Safe harbor

This press release may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. The achievement of forward-looking statements contained in this press release is subject to risks and uncertainties relating to a number of factors, including general economic factors, interest rate and foreign currency exchange rate fluctuations, changing market conditions, product competition, the nature of product development, impact of acquisitions and divestitures, restructurings, products withdrawals, regulatory approval processes, all-in scenario of R&I projects and other unusual items. Consequently, actual results or future events may differ materially from those expressed or implied by such forward-looking statements. Should known or unknown risks or uncertainties materialize, or should our assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly update or revise any forward-looking statements.

 

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