Company results: Solvay Q1 profits rise on sales volume increase

By Martim Facada
Published: Friday, 09 June 2017

Solvay reported a strong start to the year as increased sales volumes were supported by positive currency effects.

Belgian chemicals producer Solvay S.A. saw net sales rise 9.7% year-on-year to €2.97bn  owing to a 7.5% jump in sales volumes across all segments and positive currency impacted sales by 2.6% due to the stronger dollar against the Brazilian real.

Operational excellence measures, favourable exchange rate and higher sales volumes across each of the company’s operating segments offset higher fixed costs base and higher raw material prices, according to Solvay.

"Our results reflect a strong start to the year, with all operating segments delivering volume growth in the first quarter. We will continue on the growth path and defined in our mid-term objectives," Jean-Pierre Clamadieu’s, Solvay’s CEO, said in the Q1 results statement released 3 May. 

Profit for Q1 2017 was by 33% to €235m on IFRS basis and to €256m on underlying basis from €192m in Q1 2016 registering an underlying debt decrease to €6.4bn from €6.6bn at end-December.

This article from the June issue of Industrial Minerals magazine was first  published online on 3 May 2017.