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Solvac SA (SOAC.BR)

SOAC.BR on Brussels Stock Exchange

87.00EUR
3 Aug 2020
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€0.00 (+0.00%)
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Volume
159
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Latest Key Developments (Source: Significant Developments)

Solvac H1 Net Consolidated Result Turns To Loss Of EUR 411.1 Million
Thursday, 30 Jul 2020 

July 30 (Reuters) - Solvac SA ::FIRST INTERIM GROSS DIVIDEND 2020 AT EUR 3.26.ON JUNE 30TH, 2020 SOLVAC RECORDED NET CONSOLIDATED INCOME OF EUR -411.1 MILLION VERSUS EUR 154.1 MILLION IN SAME PERIOD IN 2019.H1 CASH REVENUE, DRIVEN BY DIVIDENDS FROM INVESTMENT IN SOLVAY AMOUNTS TO €121.9 MILLION COMPARED TO €121.9 MILLION IN 2019.H1 CASH INCOME EUR 119.3 MLN VS EUR 119.2 MLN YR AGO.  Full Article

Solvay Announces Non-Cash Impairment Estimated Around 1.5 Billion Euros
Wednesday, 24 Jun 2020 

June 24 (Reuters) - Solvac SA ::GIVEN DETERIORATION IN SHORT AND MID TERM ECONOMIC PERFORMANCE DUE TO COVID-19, IMPAIRMENT REVIEW IS UNDERWAY AND LIKELY TO LEAD TO A NON-CASH IMPAIRMENT ESTIMATED AROUND €1.5BN.GROUP SALES WERE DOWN 20% IN AGGREGATE ACROSS APRIL AND MAY VERSUS 2019 LEVELS, REFLECTING RESILIENCE OF SOLVAY'S DIVERSIFIED PORTFOLIO.DECISIVE ACTIONS ON STRUCTURAL AND TEMPORARY COST REDUCTION PROGRAMS AND FOCUS ON CASH GENERATION HELP TO EASE SOME OF EFFECTS AND POSITION GROUP FOR STRONG GROWTH WHEN MARKETS REBOUND.BUSINESSES RELATED TO OIL AND GAS, AUTOMOTIVE, AND AEROSPACE WERE MOST SIGNIFICANTLY IMPACTED, WITH REVENUES DOWN ABOUT 40%, WHEREAS BUSINESSES RELATED TO CONSTRUCTION AND MINING WERE DOWN ABOUT 20%.OTHER KEY MARKETS SUCH AS HEALTHCARE, AGRO/FOOD, HOME & PERSONAL CARE AND ELECTRONICS RESISTED WELL AND HELPED TO OFFSET SOME OF CHALLENGED MARKETS.FUNDAMENTAL LONG-TERM ATTRACTIVENESS OF COMPOSITE MATERIALS AND TECHNOLOGY SOLUTIONS BUSINESSES REMAIN UNAFFECTED.  Full Article

Solvay Starts Up New Plant In Vietnam
Friday, 19 Jun 2020 

June 19 (Reuters) - SOLVAC SA ::SOLVAY STARTS UP NEW HYDROGEN PEROXIDE DILUTION AND PACKING PLANT IN VIETNAM.  Full Article

Solvay Implements Job Reductions Around 20% Of Total Headcount
Friday, 15 May 2020 

May 15 (Reuters) - SOLVAY SA ::ACCELERATES EFFICIENCY PLANS FOR COMPOSITE MATERIALS.ON COVID-19: JOB REDUCTIONS ARE BEING IMPLEMENTED ACROSS THE BUSINESS, AND TOTAL HEADCOUNT WILL LIKELY REDUCE BY APPROXIMATELY 570 POSITIONS, OR AROUND 20% OF ITS WORKFORCE.THESE STRUCTURAL CHANGES WILL ENABLE BUSINESS TO ADAPT ITS COST STRUCTURES AND TO PARTIALLY MITIGATE DOWNTURN IN NEAR TERM.COMPOSITE MATERIALS: RESTRUCTURING ITS MANUFACTURING FOOTPRINT WITH INTENT TO CLOSE TWO SITES AND REDUCE GLOBAL HEADCOUNT BY 20%.IMPLEMENTATION OF THIS PLAN IS EXPECTED TO BE LARGELY COMPLETE BY END OF 2020 AND WILL RESULT IN ANNUALIZED COST SAVINGS OF APPROXIMATELY EUR 60 MILLION.ON COVID-19: SOLVAY'S COMPOSITE MATERIALS BUSINESS INTENDS TO CEASE INDUSTRIAL OPERATIONS AT ITS PLANTS IN MANCHESTER, UK, AND TULSA, OKLAHOMA (USA).A RESTRUCTURING CHARGE OF AROUND EUR 30 MILLION WILL BE TAKEN IN Q2.FURTHERMORE, A COST-REDUCTION PROGRAM WAS IMPLEMENTED IN RESPONSE TO REDUCED PRODUCTION OF BOEING 737 MAX.  Full Article

Solvay Reports Q1 Underlying EBITDA Of EUR 569 Mln, Expects Substantially Lower Results in Q2
Wednesday, 6 May 2020 

May 6 (Reuters) - Solvay ::Q1 NET SALES EUR 2.47 BILLION VERSUS EUR 2.57 BILLION YEAR AGO.Q1 STRONG CASH GENERATION OF EUR 202 MILLION, UP SIGNIFICANTLY VERSUS Q1 2019.Q1 STRONG PERFORMANCE WITH UNDERLYING EBITDA OF EUR 569M, SIMILAR TO Q1 2019 LEVEL, DESPITE A EUR -20M IMPACT FROM COVID-19 IN CHINA.CONFIRMED DIVIDEND RECOMMENDATION, HIGHLIGHTING STRENGTH OF CASH FLOW GENERATION, BALANCE SHEET, LIQUIDITY.WE EXPECT Q2 RESULTS TO BE SUBSTANTIALLY LOWER - CEO.UNDERLYING NET FINANCIAL DEBT DECREASED €0.7 BILLION TO €(4.7) BILLION AT THE END OF MARCH 2020.Q1 UNDERLYING PROFIT ATTRIBUTABLE TO SOLVAY SHAREHOLDERS EUR 236 MILLION VERSUS EUR 289 MILLION YEAR AGO.Q1 COMPANY-COMPILED CONSENSUS: UNDERLYING EBITDA EUR 502 MILLION; UNDERLYING NET SALES EUR 2.37 BILLION.  Full Article

Solvay Receives Approval For PROXITANE® AHC Against COVID-19
Friday, 24 Apr 2020 

April 24 (Reuters) - SOLVAC SA ::RECEIVES APPROVAL TO USE PROXITANE® AHC AGAINST COVID-19.IT HAS BEEN ADDED TO THE LIST OF DISINFECTANTS FOR USE AGAINST SARS-COV-2.  Full Article

Solvay And Honda Sign Supply Agreement For Business Jets Programmes
Thursday, 16 Apr 2020 

April 16 (Reuters) - SOLVAY SA ::SOLVAY AND HONDA SIGN EXCLUSIVE SUPPLY AGREEMENT FOR BUSINESS JETS PROGRAMS.SIGNED LONG-TERM EXCLUSIVE AGREEMENT THROUGH 2027 WITH HONDA AIRCRAFT FOR SUPPLY OF INNOVATIVE COMPOSITES AND ADHESIVES TO BE USED ACROSS HONDA AIRCRAFT BUSINESS JET HA-420 AND ELITE PROGRAMS.SOLVAY WILL SUPPLY HONDA WITH CYCOM® 5276-1 PREPREG AND SURFACEMASTER® 905 LIGHTNING STRIKE PROTECTION SURFACING FILM.  Full Article

Solvay Withdraws FY Guidance, Confirms Dividend Recommendation
Thursday, 9 Apr 2020 

April 9 (Reuters) - Solvac SA ::WITHDRAWS ITS FULL-YEAR GUIDANCE AND CALLS ON ALL INVESTORS TO CONTRIBUTE ONE THIRD OF FINAL DIVIDEND TO A NEW COVID-19 SOLVAY SOLIDARITY FUND.WE ARE DELEVERAGING PENSION LIABILITIES AND ARE REDUCING OUR CAPITAL EXPENDITURE BY OVER EUR 250 MILLION IN 2020.CONFIRMS THAT IT WILL MAINTAIN ITS TOTAL DIVIDEND RECOMMENDATION OF EUR 3.75 GROSS PER SHARE.FINAL GROSS DIVIDEND OF EUR 2.25 PER SHARE PAYABLE ON MAY 20, 2020, WHICH FOLLOWS INTERIM DIVIDEND PAYMENT IN JANUARY 2020 OF EUR 1.50 PER SHARE.LIQUIDITY RESERVES OF AROUND EUR 4 BILLION COMPRISED OF CASH AND UNDRAWN CREDIT FACILITIES.PLANS TO LAUNCH A SOLIDARITY FUND TO SUPPORT EMPLOYEES AND THEIR DEPENDENTS.HIGHLIGHTS STRENGTH OF ITS CASH FLOW GENERATION, BALANCE SHEET, AND LIQUIDITY.SOLVAY SOLIDARITY FUND TO SUPPORT SOLVAY EMPLOYEES AND DEPENDENTS WHO MAY EXPERIENCE HARDSHIP RELATED TO COVID-19: SENIOR MANAGEMENT TO CONTRIBUTE 15% OF THEIR SALARY FOR REMAINDER OF YEAR.  Full Article

Solvac FY Net Income Down At 32.1 Million Euros
Thursday, 27 Feb 2020 

Feb 27 (Reuters) - Solvac Sa ::FY NET INCOME EUR 32.1 MILLION VERSUS EUR 271.2 MLN YEAR AGO.FY CASH INCOME EUR 116.8 MILLION VERSUS EUR 111.8 MILLION YEAR AGO.FY OPERATING LOSS EUR 1.5 MILLION VERSUS LOSS OF EUR 1.4 MILLION YEAR AGO.TO PAY, ON MAY 23, 2020, A FINAL DIVIDEND OF EUR 2.25 GROSS PER SHARE FOR THE 2019 FINANCIAL YEAR, WHICH AMOUNTS TO EUR 2.25 GROSS PER SHARE.  Full Article

Solvay Sees 2020 Underlying EBITDA Growth Between 0% And -3%
Wednesday, 26 Feb 2020 

Feb 26 (Reuters) - Solvac SA ::SOLVAY 2019 4TH QUARTER & FULL YEARS RESULTS.STABLE TOTAL DIVIDEND RECOMMENDED OF EUR 3.75 GROSS PER SHARE.FINAL GROSS DIVIDEND OF EUR 2.25 PAYABLE ON MAY 20, 2020.2020 FREE CASH FLOW CONVERSION OF 28% AND ROCE TO BE STABLE AROUND 8%.UNDERLYING EPS FROM CONTINUING OPERATIONS (FY: EUR 8.02 -4.7%).EXPECTS ORGANIC UNDERLYING EBITDA GROWTH BETWEEN 0% AND -3% ON A YEAR OVER YEAR BASIS IN 2020.FY NET SALES EUR 10.24 BILLION VERSUS EUR 10.33 BILLION SEEN IN COMPANY-COMPILED CONSENSUS.FY PROFIT ATTRIBUTABLE TO SHAREHOLDERS EUR 1.08 BILLION VERSUS EUR 1.10 BILLION SEEN IN COMPANY-COMPILED CONSENSUS.FY CAPEX FROM CONTINUING OPERATIONS INCREASED BY +5.4% COMPARED TO €794 MILLION IN 2018.DISRUPTIONS RELATED TO THE COVID-19 VIRUS ARE UNCERTAIN; SOLVAY EXPECTS APPROXIMATELY -€25 MILLION IMPACT IN THE FIRST QUARTER AND WILL UPDATE ITS OUTLOOK AS THE SITUATION BECOMES CLEARE.OUTLOOK 2020: ROCE TO BE STABLE AROUND 8%.OUTLOOK : MACROECONOMIC ENVIRONMENT HEADWINDS ARE EXPECTED TO CONTINUE INTO 2020, WITH EXPECTED IMPROVEMENT IN KEY MARKETS (AUTO AND ELECTRONICS) IN THE SECOND HALF.OUTLOOK : FREE CASH FLOW CONVERSION EXCEED 30% BY 2024.2020-2024 OUTLOOK : UNDERLYING EBITDA GROWTH MID-SINGLE-DIGIT GROWTH PER YEAR AVERAGE.OUTLOOK: COST REDUCTIONS AT LEAST EUR 350 MILLION (ANNUAL RUN-RATE BY 2024) WHICH INCLUDES THE ADDITIONAL MEASURES ANNOUNCED TODAY.  Full Article