Solvay SA (SLVYY), a chemicals company, on Wednesday reported a decline in net profit for the first quarter, reflecting a fall in sales.
For the three-month period, the company reported a net profit of 81 million euros, or 0.77 euro per share, lower than 107 million euros, or 1.01 euros per share, registered for the same period last year. Excluding items, profit stood at 99 million euros, or 0.93 euro per share as against last year's 117 million euros, or 1.10 euros per share.
Pre-tax income moved down to 115 million euros from the previous year's 136 million euros. EBIT was 148 million euros, down from 159 million euros a year ago. Underlying EBITDA was 250 million euros, compared with 265 million euros in 2024.
Solvay posted sales of 1.243 billion euros, lesser than 1.298 billion euros last year. Net sales also moved down to 1.085 billion euros from 1.166 billion euros a year ago. Underlying net sales stood at 1.122 billion euros, down from last year's 1.201 billion euros, primarily due to lower volumes of negative 6.3%.
Looking ahead, Solvay said: "The current demand environment is uncertain but the essential nature of its businesses makes Solvay resilient. The company expects the second quarter underlying net sales to be sequentially stable compared to Q1 2025, while underlying EBITDA would be sequentially down as Q1 included a one-off gain of c. €10 million and as Q2 will start to see an increase of the temporary stranded costs from the exit of the Transition Service Agreement with Syensqo."
For the full year, the company has reaffirmed its outlook for underlying EBITDA of 1 billion euros to 1.1 billion euros.
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