(News Bulletin 247) – The Belgian chemist Solvay unveiled Monday evening the first half results of the two entities that compose it before the implementation of its split project, planned by the end of the year.
Its specialty chemicals branch, called to take the name ‘Syensqo’, thus saw its turnover fall by 4.3% in organic data over the first six months of the year, the fall of 11% in its volumes against a background of economic slowdown that was not fully offset by its price increases (+7%).
Its gross operating surplus (Ebitda) fell by 2.1% to 906 million euros over the half-year, giving an operating margin improvement of 25% against 24.1% a year earlier.
The division bringing together the more traditional activities in essential chemicals – which will retain the historic name of ‘Solvay’ – saw its organic sales fall by 3.2%.
Its recurring Ebitda nevertheless increased by 24.1% to 723 million euros under the effect of its discipline in terms of costs, ie an operating margin improving by 5.8 percentage points to 27.4%.
After these figures, the Solvay share rose by 1.2% on Tuesday morning on the Brussels Stock Exchange, among the strongest increases in the BEL 20 index. The title has gained around 12% since the announcement of the planned split in March 2022.
The separation process is expected to be completed by December
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