Belgium's Syensqo narrows profit outlook on automotive and aerospace woes (updated)

Solvay SA

05/11/2024 06:37

(Adds company quote paragraph 3, earnings details in paragraph
4)
       Nov 5 (Reuters) - Belgian chemicals maker Syensqo
 SYENS.BR  tightened its annual underlying profit forecast range
on Tuesday for the second time since August, citing
macroeconomic and industry uncertainties, most notably in the
automotive and aerospace sectors.
    The company now expects underlying earnings before interest,
taxes, depreciation, and amortisation (EBITDA) between 1.4
billion euros and 1.44 billion euros ($1.52 billion-$1.57
billion) for 2024, compared with the 1.4 billion to 1.475
billion euros previously expected.
    "Our outlook reflects fourth-quarter seasonality as well as
the expected EBITDA and cash flow impacts from the strike at
Boeing and its related supply chain disruption," the group said
in a statement.
    Syensqo, which was spun off from Belgian chemicals group
Solvay  SOLB.BR  last year, reported third-quarter EBITDA of 374
million euros, above analysts' forecast of 360 million euros in
a consensus compiled by the company.

($1 = 0.9194 euros)

 (Reporting by Dimitri  Rhodes; Editing by Subhranshu Sahu)
 ((Dimitri.Rhodes@thomsonreuters.com;))