Belgium's Solvay 2025 revenue, EBITDA decline

Solvay SA

24/02/2026 06:08

Overview

Belgium-based chemical firm's 2025 revenue fell 6.5% organically to €4.3 bln

2025 underlying EBITDA declined 13.4% organically, maintaining a 20.7% margin

Company delivered strong free cash flow of €350 mln in 2025

Outlook

Solvay expects 2026 underlying EBITDA between €770 mln and €850 mln

Company projects 2026 Free Cash Flow of at least €200 mln, net of transformation expenses

Solvay anticipates geopolitical and macroeconomic headwinds to persist in 2026

Result Drivers

MARKET WEAKNESS - Soda ash seaborne and Coatis markets were weaker, impacting net sales, while Peroxides and bicarbonate saw growth

COST SAVINGS - Structural cost savings initiatives contributed €101 million in 2025, aiding in maintaining EBITDA margin

FREE CASH FLOW - Strong free cash flow delivery of €350 million, aided by high working capital contribution and contained Capex

Company press release: ID:nGNE3TcxGh

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
EUR 995 mln
Q4 EBITDA
EUR 169 mln
Q4 EBITDA Margin
17.00%
Q4 Free Cash Flow
EUR 137 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 7 "hold" and 7 "sell" or "strong sell"

The average consensus recommendation for the diversified chemicals peer group is "hold"

Wall Street's median 12-month price target for Solvay SA is €26.00, about 3.2% below its February 23 closing price of €26.86

The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 8 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)