Peter Boelaert’s Post

It’s time to announce Solvay's Q1 2024 results! We have achieved a solid start to the year with a robust performance in the first quarter marked by strong free cash flow, resilient EBITDA and returns. Net sales were down organically from price decreases, mostly reflecting the lower energy and raw material costs, however Solvay experienced positive volume impact for the first time in seven quarters across both Basic and Performance Chemicals segments. Our proactive cost-saving initiatives yielded €19 million in savings, contributing to a solid underlying EBITDA of €265 million. Our free cash flow was strong at €123 million, demonstrating disciplined management of working capital, costs, and capex. We also successfully executed a €1.5 billion bond issuance that enhances our financial stability and strengthens our balance sheet. Looking ahead, Solvay maintains a sharp focus on cost management and cash optimization while cautiously navigating a volatile macro and geopolitical landscape. Despite economic recovery in certain segments, we remain prudent and confirm our outlook for the year. I'm proud of the dedication and resilience of the Solvay team in delivering these results. With capacity expansions in France, Italy, and China, alongside innovative product launches like our new bio-based carbon neutral for the Americas, Augeo® and new sustainable blowing agent, Alve-OneⓇ, we are well-positioned to sustain our leadership role. We aim to position Solvay for sustained success in the years to come. Here's to continued growth ahead! https://bit.ly/3UPiJkn #FinancialResults #Sustainability #Innovation #EssentialTogether

Time to announce our Q1 2024 results, marking a significant milestone in our journey at Solvay. We ended the quarter with our inaugural bond placement - it has not only bolstered our capital structure, but has also provided us with the financial stability necessary to execute our strategy effectively. With over 250 investors participating, our bond placement was nearly six times oversubscribed, underscoring the robust support for Solvay's vision and strategy. This resounding success reflects confidence in our ability to drive sustainable growth and create long-term value for all stakeholders. In Q1, despite challenges, we witnessed promising developments across various segments. Our focus on operational efficiency and cost-saving measures has yielded tangible results. Our EBITDA and Cash generation demonstrated resilience and strategic foresight in navigating market dynamics. Looking ahead, we remain committed to maintaining our leadership position and delivering investments for sustainable growth. Our capacity expansion initiatives in France, Italy, and China underscore our dedication to meeting evolving market demands while prioritizing sustainability. I extend my gratitude to our dedicated team and valued stakeholders for their unwavering support. Together, we are forging a path towards a brighter, more sustainable future for Solvay. https://bit.ly/4acO19x #FinancialResults #Sustainability #Innovation #EssentialTogether

The future is here

Belgium-based chemical company Solvay maintains its 2023 guidance amid challenging demand conditions, but its future dynamics hinge on the operational separation of its commodities and specialties divisions. CEO Ilham Kadri emphasized the importance of setting best practices during this division to facilitate the smooth transition to separately listed entities, while the company continues its cost-saving efforts and invests in China despite weaker-than-expected recovery in the region. Solvay's focus on efficient operations, resilience, and strategic positioning in the market is anticipated to shape its trajectory amidst industry challenges. https://lnkd.in/dtA8YCm5

Solvay's 2023 annual report is now available. Our annual report offers a comprehensive reflection of the new Solvay. It details our performance updates, strategic vision, and the strides we've made in operational excellence and #sustainability. Our commitment to steering the industry towards a sustainable future is unwavering. Through our mastery of technology and sustainable practices, we're driving Solvay's ongoing transformation. We're not just aiming to meet industry standards; we're setting new ones. As we look ahead, our ambitions are high. Building on our strong foundation, we're committed to enhancing our performance metrics and establishing new industry standards. Our objective is clear: to not only preserve our position in the top quartile but to redefine what's possible in our industry. Join us in celebrating this new chapter with Solvay. Together, we're creating value, streamlining our businesses, and paving the way for a sustainable future that sets a standard for others to follow. #SolvayLife #EssentialTogether https://bit.ly/4d12dEX

Solvay held to its initial 2023 guidance in second-quarter results, and while the outlook for general demand conditions remains poor, this is not the only factor which could change dynamics at the close of 2023. Something Interesting To Read Every Day The column of Walter volume 500 https://bit.ly/3DNQitZ #ICIS #insight #Solvay #China #PFAS #DNA #emissions #COVID

Today we present BASF’s figures for 2023. In many sectors, we are feeling the restraint of our customers, which is having a negative impact on sales and earnings. Nevertheless, BASF remains in a strong financial position. As in the prior year, we will therefore propose a dividend of 3.40 euros per share to the Annual Shareholders’ Meeting. For the current financial year 2024, we expect the weak economy to continue. That is why we are keeping a close eye on our costs, particularly in Germany and at the Ludwigshafen site. We are working on our competitiveness, profitability and our long-term goal of climate neutrality. I am certain that we will succeed in all of this. Because we are a strong company. We have the will to change. We are rethinking chemistry. #BASFreport #BASF_pcon

Covestro’s business performance in fiscal year 2023 was significantly affected by what was once again a challenging economic environment. While geopolitical crises had a lasting negative impact on global demand and selling prices, #energy and raw material #costs, especially in #Europe, remained well above the historical average. The weak global #demand situation is also evident in the segment breakdown: Sales in the Performance #Materials segment in fiscal year 2023 fell by 24.4%. Sales in the Solutions & #Specialties segment fell by 15.1%, again mainly due to lower average selling prices and lower sales volumes. Read the official release from #covestro here: https://lnkd.in/dbhzVTmE #chemicals #earnings

I am proud that we announced a further step in BASF’s corporate strategy at an event for investors and analysts in Ludwigshafen – a differentiated approach to steering our businesses for more profitability. This approach will allow our businesses to further adjust their specific business models to the needs of their customer industries. BASF will introduce new KPIs for the entire Group and its operating divisions. We will put an even stronger emphasis on EBITDA before special items and cash generation. BASF will continue to use ROCE as a mid-term steering KPI to stress the importance of steering towards asset profitability. In line with the changes to the internal steering approach, BASF will also adapt its external reporting and forecasting. As of the BASF Report 2023, to be published on February 23, 2024, BASF will forecast EBITDA before special items and free cash flow at Group level. Furthermore, the company will provide a forecast for EBITDA before special items and cash flow for the segments. Further information on the #BASF Investor Update and a link to the replay can be found at: https://lnkd.in/gNssVhf4 #wecreatechemistry #InvestorUpdate #BASF_InvestorUpdate

[#FinancialResults] We delivered a solid financial performance in 2023 in a demanding macroeconomic environment, with €1.5 billion in EBITDA, in line with our full-year guidance, and excellent cash generation.   We expect EBITDA to grow in 2024, mainly weighted to the second half of the year with the ramp-up of our major projects and a gradual improvement in market conditions.   “#Arkema recorded a solid financial performance in 2023 in a particularly demanding macroeconomic context. I would like to thank our teams, who once again demonstrated their agility and unwavering commitment, enabling Arkema to deliver some important achievements in 2023, notably in terms of cash generation, #CSR performance and the strengthening of the Group’s profile in #SpecialtyMaterials” stated Thierry Le Hénaff, Chairman and CEO of Arkema.   Arkema. #Innovative materials for a #sustainable world.   #results #annualresults    👉 http://arke.ma/cy4050QJ2CF