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Solvay sales reach record highs in the first quarter of 2022

All the lights are green for the Belgian chemical group.

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The Belgian group Solvay recorded sales of 3.055 billion euros in the first quarter, up 26.1% year on year, while its EBITDA (earnings before interest, taxes, depreciation and amortization) also reached a new record at 712 million euros (+20.1%), he said on Tuesday. Driven by rising prices and volumes, the chemical group’s sales posted double-digit growth in all activities and all regions. Underlying net profit amounted to 369 million euros, up 54% year-on-year.

During the first quarter, the group also achieved structural cost savings of 22 million euros, for a total of 410 million since 2020. It wanted to reach 500 million euros in structural cost savings before the end of 2024 and should achieve this sooner than expected, according to its estimates.

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