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Solvay (SOLB) investor relations material
Solvay Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 underlying net sales were €1,031m, down 3.3% organically; underlying EBITDA was €173m, down 26.6%, with a 16.8% margin.
Middle East disruption, the Jubail Peroxides shutdown and weak soda ash markets pressured results; structural savings added €25m in Q3, with €283m delivered cumulatively.
9M underlying net sales were €3,059m and EBITDA €579m; underlying profit from continuing operations was €178m.
Financial highlights
Q3 underlying net sales fell 1.3% reported and 3.3% organically; volume and mix reduced sales by €54m, while price added €19m and FX €22m.
Q3 underlying EBITDA declined from €232m to €173m; volume and mix reduced EBITDA by €65m and net pricing by €29m, while fixed costs added €20m and other items €11m.
The Middle East conflict reduced Q3 EBITDA by €25m, including €15m from the Jubail shutdown; the prior-year comparison included ~€40m from CO₂ rights sale proceeds.
Underlying profit from continuing operations was €35m in Q3 versus €90m; 9M profit was €178m versus €291m.
Q3 free cash flow was €54m and 9M free cash flow to shareholders from continuing operations was €70m; 9M included a €28m one-off insurer settlement gain.
Outlook and guidance
FY2026 underlying EBITDA guidance is €720m–€740m, excluding potential Sadara revenue or recovery measures; guidance assumes EUR/USD of 1.20 and is net of €40m transformation expenses.
FY2026 free cash flow guidance was €120m–€150m in prepared remarks; the CFO later cited €120m–€140m assuming no HPPO compensation. Guidance is net of ~€90m transformation expenses.
FY2026 capex is expected below €300m, including €15m–€20m for La Rochelle rare earth separation capacity expansion.
Structural cost savings remain on track for €300m by year-end 2026; transformation costs are expected to fall to ~€50m in 2027 and be almost fully eliminated from 2028.
- Q2 2026 sales and EBITDA declined sharply, but full-year guidance and rare earths investments remain on track.SOLB
Q2 2026 - Q1 2026 sales and EBITDA declined, but margins and 2026 guidance remain resilient.SOLB
Q1 2026 - Strong 2025 results with robust cash flow, cost savings, and accelerated sustainability initiatives.SOLB
Roadshow presentation - 2025 delivered strong cash flow and margins; 2026 outlook cautious with EBITDA €770–850m.SOLB
Q4 2025 - Sales and EBITDA declined amid soft demand, but margins and cash flow stayed resilient.SOLB
Q2 2025 - 2024 EBITDA reached €1.052bn as transformation and sustainability priorities advance.SOLB
Investor update - Q3 2024 delivered resilient sales and EBITDA, with guidance confirmed at the high end.SOLB
Q3 2024 - Sequential EBITDA and margin gains offset year-over-year declines, with guidance upgraded.SOLB
Q2 2024 - Q1 2025 sales and EBITDA fell, but margins held and 2025 guidance is reaffirmed.SOLB
Q1 2025
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