Brief: Solvay Reports Q1 Underlying EBITDA Of EUR 569 Mln, Expects Substantially Lower Results in Q2

Solvac SA

06/05/2020 06:36

May 6 (Reuters) - Solvay  SOLB.BR :
    * Q1 NET SALES EUR 2.47 BILLION VERSUS EUR 2.57 BILLION YEAR
AGO
    * Q1 STRONG CASH GENERATION OF EUR 202 MILLION, UP
SIGNIFICANTLY
VERSUS Q1 2019
    * Q1 STRONG PERFORMANCE WITH UNDERLYING EBITDA OF EUR 569M,
SIMILAR TO Q1 2019 LEVEL, DESPITE A EUR -20M IMPACT FROM
COVID-19 IN CHINA
    * CONFIRMED DIVIDEND RECOMMENDATION, HIGHLIGHTING STRENGTH
OF CASH
FLOW GENERATION, BALANCE SHEET, LIQUIDITY
    * WE EXPECT Q2 RESULTS TO BE SUBSTANTIALLY LOWER - CEO
    * UNDERLYING NET FINANCIAL DEBT DECREASED €0.7 BILLION TO
€(4.7)
BILLION AT THE END OF MARCH 2020
    * Q1 UNDERLYING PROFIT ATTRIBUTABLE TO SOLVAY SHAREHOLDERS
EUR 236
MILLION VERSUS EUR 289 MILLION YEAR AGO
    * Q1 COMPANY-COMPILED CONSENSUS: UNDERLYING EBITDA EUR 502
MILLION; UNDERLYING NET SALES EUR 2.37 BILLION

Source text for Eikon:  ID:nGNEb3ygCM 
Further company coverage:  SOLB.BR 

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