Following the filing of Chlorovinyls joint venture plan for EU clearance, Solvay is presenting the associated activities in discontinued operations as from Q3 2013. Accordingly all financials have been restated.
-Group net sales down (8)% yoy at € 2,458 m, with stable volumes, prices (4)%, forex (5)%, scope 1% -REBITDA at € 439 m, down (13)% yoy against last year’s demanding comparables, up 2% when excluding guar (€ 47m) and CER (€ 30 m) exceptional impacts. All operating segments exceeded last year except for Consumer Chemicals -Consumer Chemicals stood at € 77 m, down (52)%, impacted by reductions from last year’s unsustainable guar peak prices (€ 47 m) and from guar derivatives margins squeeze (€ 28m). Other activities delivered satisfactory performance -Advanced Materials at € 170 m remained strong near last year highs, overcoming continued weakness at Rare Earths -Performance Chemicals posted record results at € 202 m, up 3%, with growth across all businesses other than Emerging Biochemicals -Functional Polymers at € 19 m, with Polyamide results stable versus last year
Previous scope REBITDA (before discontinuing chlorovinyls operations) at € 478 m
-Adjusted EBIT at € 253 m against € 313 m in Q3’12 -Adjusted Net Income Group share at € 118 m against € 143 m in Q3’12; Adjusted EPS at € 1.43 against € 1.73 last year -Strong free cash flow at € 224 m; net debt down € 97 m at € 1,475 m -Announced Interim dividend of € 1.33 gross per share (€ 1.0 net per share)
