BRUSSELE: Belgium chemical giant Solvay Group reported 5.8% revenue growth in 2017. The company benefited from the growing demand for specialty polymers in energy-efficient cars and smart devices, as well as improvement in the aeronautics market. The revenue of Solvay Group rose by 5.8% yoy to 10.1 billion EUR, while the net profit expanded by 11% to 939 million EUR. During the reported period, the EBITDA rose by 7.5% to 2.2 billion EUR, reporting increase in all business units.
This growth was generated in Advanced Materials with strong demand in smart devices and automotive, where high-performance polymers replace metal”, said the CFO of Solvay Group, Karim Hajjar. “What is also encouraging is that our cash flow from continuing operations is up 19%, and our earnings per share are up 26% reflecting the combined impacts of EBITDA improvement, significant reduction in financial charges and a reduction in our tax rate”, added he.
The company succeeded to increase its cash flows by 19% to 782 million EUR.
The recovery of the oil and gas market and higher sales of phosphine products to the electronics industry in Technology Solutions contributed to the growth of the Belgium chemical giant.
During the year Performance Chemicals continue to generate growth, bringing largest part of the group’s revenues. The sales of Soda Ash and Derivatives increased by 4% thanks to higher soda ash volumes for the seaborne market. The sales of Peroxides were up by 11% due to supply contract for the new HPPO plant in Saudi Arabia.
