|Net sales||REBITDA||Net income (Group share)|
|1,718 million €||304 million €||111 million €|
Excellent operating result in the 2nd quarter of 2011
REBITDA (EUR 304 million) up by 12% compared to the 2nd quarter of 2010
- Increase in sales volume (+4%) reflecting very sustained overall global activity
- Higher sales prices (+11%) compensating for rise in energy costs
- Operating margin - REBITDA on sales – stable at 18%
- Net result of EUR 111 million, greatly improved from last year
- Launch of a friendly cash offer for Rhodia on June 15, 2011
Quote of the CEO
The 2nd quarter of 2011 has been excellent for Solvay with demand supporting volume growth of 4% while we achieved prices 11% ahead of the same period last year. Taken together this led to REBITDA and REBIT from continuing operations up by 12% and 27% respectively. We continue to trade in line with our expectations.
The Solvay Group is attentive to the macro-economic developments and the evolution of the energy and ethylene costs. In the context of the current business climate and based on its strategy of sustainable and profitable growth, Solvay expects to improve its annual operating result, both in Chemical and Plastic activities in 2011.
Friendly cash offer for Rhodia ongoing
Solvay’s friendly cash offer for Rhodia shares was launched on
June 15th 2011.
The aim is to create with Rhodia a large global chemical company, committed to sustainable development. The New Solvay will capitalize on its geographic diversification, the quality and balance of its portfolio of activities, its industrial excellence and the solidity of its financial base to fully capture new growth opportunities, especially in high-growth markets.
The closing date for the offer will be published by the Autorité française des
marchés financiers following receipt of approval from the European Commission which is expected on August 5, 2011.