SOLVAY GROUP
2nd QUARTER BUSINESS REVIEW
Excellent operating result in the 2nd quarter of 2011:
REBITDA (EUR 304 million) up by 12% compared to the 2nd quarter of 2010
- Increase in sales volume (+4%) reflecting very sustained overall global activity
- Higher sales prices (+11%) compensating for rise in energy costs
- Operating margin - REBITDA on sales - stable at 18%
- Net result of EUR 111 million, greatly improved from last year
- Launch of a friendly cash offer for Rhodia on June 15, 2011
Quote of the CEO
The 2nd quarter of 2011 has been excellent for Solvay with demand supporting volume growth of 4% while we achieved prices 11% ahead of the same period last year. Taken together this led to REBITDA and REBIT from continuing operations up by 12% and 27% respectively. We continue to trade in line with our expectations.
Outlook
The Solvay Group is attentive to the macro-economic developments and the evolution of the energy and ethylene costs. In the context of the current business climate and based on its strategy of sustainable and profitable growth, Solvay expects to improve its annual operating result, both in Chemical and Plastic activities in 2011.
Please find enclosed the press release announcing the Solvay's second quarter results.
Press release and slides are available on
www.solvay.com
