Solvay down 10% as one-offs overshadow weak soda ash volumes

Solvay SA

07/05/2026 09:48

** Shares in Solvay SOLB.BR fall as much as 10.7% after the Belgian chemicals group reported first-quarter core profit in line with expectations but largely supported by one-offs

** Q1 EBITDA was in line with consensus at 219 million euros ($257.6 million). Degroof Petercam says the result was supported by an unexpected 7-million-euro gain on litigation, along with a 38 million euro boost from the sale of Co2 rights

** Degroof Petercam adds that Q1 was "challenging", with weaker performance and greater-than-expected volume and price pressure, particularly in soda ash

** The dividend policy looks "increasingly generous" as 2026 free cash flow "will not be enough to service the dividend," KBC Securities says

** "The tough market conditions for the largest business, soda ash, and the gradually weakening balance sheet prompt us to be cautious," KBC says

** Shares at the bottom of France's SBF 120 .SBF120 and on track for their worst day since December 2023

($1 = 0.8500 euros)

 (Reporting by Olivier Cherfan)

 ((olivier.cherfan@thomsonreuters.com))