Adjusted EBIT plunges 61% at Solvay Group in Q4

 

The Solvay Group announces its 4th quarter and full year 2013 Business Review 

The Solvay Group announces its 4th quarter and full year 2013 Business Review. Q4 Highlights. Group net sales at € 2,417 m, down (5)% yoy, with #

 

 

Q4 Highlights

• Group net sales at € 2,417 m, down (5)% yoy, with volumes (1)%, prices (3)%, forex (4)% and scope 3%. Allowing for CER phase out, volumes up by 1% 

• REBITDA at € 384 m, down (6)% yoy. Allowing for CER phase out, exceptional guar effects and Chemlogics REBITDA up by 8% 

• Advanced Formulations (previously named Consumer Chemicals) at € 87 m, down (16)% yoy;  

• Advanced Materials at € 160 m, up 18%;  

• Performance Chemicals at € 186 m, up 4%;  

• Functional Polymers at € 14 m (€ (1) m in 2012); 

• Adjusted EBIT at € 131 m (€ 342 m in 2012) 

• Adjusted Net Income, Group share at € 25 m (€ 198 m in 2012) mainly due to portfolio related non-recurring items 

• Adjusted EPS at € 0.30  (€ 2.39 in 2012) 

 

FY Highlights

• Group net sales at € 9,938 m, down (5)% yoy  

• REBITDA at € 1,663 m (€ 1,896 m in 2012), overall flat allowing  for CER phase out, exceptional guar effects and Chemlogics   

• Adjusted Net Income, Group share at € 378 m (€ 690 m in 2012) mainly due to portfolio related non-recurring items 

• Adjusted EPS at € 4.54 ( € 8.37 in 2012) 

• Strong FCF at € 524 m; net debt decreased by € 23 m to € 1,102 m. € 1,200 m Hybrid  financing accounted as equity 

• Stable dividend proposed compared to 2012: € 3.20 gross per share, € 2.40 net