Skip to main content

Solvay publishes 2023 quarterly information following restatement and new segmentation reporting

Share to

Solvay publishes unaudited underlying Sales and EBITDA for the four quarters of 2023, before and after the restatements announced in the March 13th 2024 press release:

Summary table with Underlying EBITDA and Net Sales impacts:

in € million

impact

Underlying EBITDA

Underlying net sales

2023 underlying figures, as published

 

1,246

4,880

   phase-out thermal insulation business

scope

-54

-107

   phase-out third party energy supply activities

scope

-41

N/A

   Dis-synergies, net of the “Transition Services Agreement” mark-up

scope

-12

N/A

   Zhenjiang

scope

-8

-25

   Peroxidos do Brasil

APM

+23

+163

2023 underlying figures, new base

 

1,154

4,911

 

This restated consolidated financial information provides for underlying Sales and EBITDA detailed information for the four quarters of  2023 for the new reporting segments: 

  • Basic Chemicals host chemical intermediate businesses focused on mature and resilient markets. Solvay is a world leader in soda ash, bicarbonate, and peroxides. These global businesses share similar economic characteristics and serve major markets that include building and construction, consumer goods, and food. 
  • Performance Chemicals host a wider range of products (in our Silica, Coatis and Special Chem businesses) that are subject to customization based on unique formulations and application expertise. These businesses share similar economic characteristics and are also high-quality assets with strong positions in their markets.
  • Corporate: comprises corporate and other business services, such as its Global Business services, as well as Procurement and Energy expertise.

 

It also reflects the transfer of the “eH2O2” (electronic-grade hydrogen peroxide) business from GBU Special Chem to GBU Peroxides (net sales of €109 million, underlying EBITDA of €34 million in 2023), as if it had happened on January 1st, 2023.

New Segments - underlying

Q1 2023

 

Q2 2023

(in € million) - unaudited

Historical

Restatements

New base

 

Historical

Restatements

New base

Net sales

1,355

-2

1,353

 

1,274

-1

1,273

Basic Chemicals

769

62

830

 

679

60

739

    Soda Ash & Derivatives

598

0

598

 

518

0

518

    Peroxides

171

62

233

 

161

60

221

Performance Chemicals

585

-63

522

 

590

-61

529

    Silica

163

0

163

 

153

0

153

    Coatis

172

0

172

 

182

0

182

    Special Chem

251

-63

187

 

255

-61

194

    Corporate

1

0

1

 

5

0

5

EBITDA

365

-54

310

 

357

-28

330

Basic Chemicals

243

12

255

 

253

12

264

Performance Chemicals

123

-28

95

 

118

-26

92

Corporate

-1

-39

-40

 

-13

-13

-27

EBITDA margin

26.9%

 

22.9%

 

28.0%

 

25.9%

Basic Chemicals

31.6%

 

30.7%

 

37.2%

 

35.7%

Performance Chemicals

21.0%

 

18.3%

 

20.0%

 

17.4%

New Segments - underlying

Q3 2023

 

Q4 2023

(in € million) - unaudited

Historical

Restatements

New base

 

Historical

Restatements

New base

Net sales

1,120

3

1,123

 

1,131

31

1,161

Basic Chemicals

627

61

688

 

651

65

715

    Soda Ash & Derivatives

478

0

478

 

499

0

499

    Peroxides

149

61

210

 

152

65

217

Performance Chemicals

493

-58

436

 

480

-34

446

    Silica

133

0

133

 

134

0

134

    Coatis

147

0

147

 

146

0

146

    Special Chem

213

-58

155

 

201

-34

167

    Corporate

-1

0

-1

 

0

0

0

EBITDA

287

-19

268

 

238

8

247

Basic Chemicals

227

13

240

 

194

13

207

Performance Chemicals

90

-24

66

 

74

-10

64

Corporate

-31

-7

-38

 

-30

6

-24

EBITDA margin

25.6%

 

23.8%

 

21.1%

 

21.2%

Basic Chemicals

36.2%

 

34.8%

 

29.8%

 

28.9%

Performance Chemicals

18.3%

 

15.1%

 

15.4%

 

14.2%

New Segments - underlying

FY 2023

(in € million) - unaudited

Historical

Restatements

New base

Net sales

4,880

31

4,911

Basic Chemicals

2,726

247

2,973

    Soda Ash & Derivatives

2,093

0

2,093

    Peroxides

633

247

880

Performance Chemicals

2,148

-216

1,932

    Silica

583

0

583

    Coatis

646

0

646

    Special Chem

919

-216

703

    Corporate

6

0

6

EBITDA

1,246

-92

1,154

Basic Chemicals

916

49

965

Performance Chemicals

405

-88

317

Corporate

-75

-53

-128

EBITDA margin

25.5%

 

23.5%

Basic Chemicals

33.6%

 

32.5%

Performance Chemicals

18.9%

 

16.4%

Related Media

Document

Solvay publishes 2023 quarterly information following restatement and new segmentation reporting

Document

Contacts

Solvay, a pioneering chemical company with a legacy rooted in founder Ernest Solvay's pivotal innovations in the soda ash process, is dedicated to delivering essential solutions globally through its workforce of over 9,000 employees. Since 1863, Solvay harnesses the power of chemistry to create innovative, sustainable solutions that answer the world’s most essential needs such as purifying the air we breathe and the water we drink, preserving our food supplies, protecting our health and well-being, creating eco-friendly clothing, making the tires of our cars more sustainable and cleaning and protecting our homes. Solvay’s unwavering commitment drives the transition to a carbon-neutral future by 2050, underscoring its dedication to sustainability and a fair and just transition. As a world-leading company with €4.9 billion in net sales in 2023, Solvay is listed on Euronext Brussels and Paris (SOLB). For more information about Solvay, please visit solvay.com or follow Solvay on LinkedIn. 

This press release may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. The achievement of forward-looking statements contained in this press release is subject to risks and uncertainties relating to a number of factors, including general economic factors, interest rate and foreign currency exchange rate fluctuations, changing market conditions, product competition, the nature of product development, impact of acquisitions and divestitures, restructurings, products withdrawals, regulatory approval processes, all-in scenario of R&I projects and other unusual items. Consequently, actual results or future events may differ materially from those expressed or implied by such forward-looking statements. Should known or unknown risks or uncertainties materialize, or should our assumptions prove inaccurate, actual results could vary materially from those anticipated. The Company undertakes no obligation to publicly update or revise any forward-looking statements.