Strong organic volume growth contributed to 7.5% underlying EBITDA increase for full year 2017
EBITDA progressed in organic terms, as strong volume growth across operating segments offset fixed cost increases and helped to maintain leading margins.
Following the announcements in late 2016 of plans to divest the Acetow and Vinythai businesses, these have been reclassified as discontinued operations and as assets held for sale.
Based on the strong start to 2017 and improving market conditions, Solvay expects to meet or exceed its previously given guidance of mid-single digit underlying EBITDA growth and more than € 800 million of free cash flow from continuing operations.
Following the announcements at the end of 2016 of the intended divestments of the Acetow and Vinythai businesses, these businesses are reclassified as discontinued operations and as assets held for sale.
Solvay publishes today restated consolidated financial information for 2015 and the first nine months of 2016.
The results of former Cytec are consolidated in the Group’s income and cash flow statements since January 1, 2016. Comparative information for the third quarter and 1st nine months of 2015 is presented on an unaudited pro forma basis as if the acquisition of Cytec had taken place on January 1, 2015.
The results of former Cytec are consolidated in the Group’s income and cash flow statements since January 1, 2016.
First quarter 2016 - Financial report
Net sales were € 2.5 bn, down 1% yoy. The impact on conversion of foreign exchange rate fluctuations contributed 3% and scope effects 1%. These were offset by (4)% lower volumes, mainly from the downturn in the oil and gas industry, and slightly lower prices for (1)%.