Solvay reports third quarter results in line with guidance

Solvay reported third quarter adjusted EBITDA of €173 million on Wednesday, matching its pre-released figures.

The Belgian chemical company maintained its full-year 2026 guidance for EBITDA of €720 million to €740 million and free cash flow of €120 million to €150 million.

Group sales reached €1.031 billion, declining 3.4% on an organic basis. Volume fell 5.2% while prices increased 1.8%. Foreign exchange added 2.1% to sales.

The Basic Chemicals division generated adjusted EBITDA of €123 million with sales of €609 million, down 8.4% organically. Soda Ash & Derivatives sales totaled €398 million, declining 7.5% organically. Soda ash volumes decreased slightly with stable pricing in domestic markets, while seaborne markets saw flat volumes with lower year-over-year pricing.

Peroxides sales fell 10.0% organically to €211 million, affected by the temporary suspension of operations at the HPPO site in Jubail, Saudi Arabia. This was partially offset by continued growth in electronic grades.

The Performance Chemicals segment posted adjusted EBITDA of €72 million on sales of €422 million, up 5.1% organically. Coatis sales rose 10.6% organically to €138 million, driven by higher pricing in phenol and solvents product lines.

Silica sales increased 7.3% organically to €133 million, reflecting price increases from raw material cost pass-through.

Special Chemicals sales reached €152 million, down 1.1% organically, as lower autocatalysis volumes were partially offset by strong fluorine demand in North America.

Free cash flow for the quarter was €54 million compared with €117 million in the same period last year. Net financial debt stood at €1.8 billion, representing 2.4 times net debt to EBITDA.

The company has achieved cumulative cost savings of approximately €283 million since the program started, moving toward its target of €300 million by year-end 2026.