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Solvay SA (SOLB) investor relations material
Solvay SA Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary6 Nov, 2025
Executive summary
Q3 2025 net sales were €1.04 billion, down 7% year-over-year, with volumes declining 4% due to weak Coatis and soda ash seaborne markets, especially in Southeast Asia.
Underlying EBITDA for Q3 was €232 million, down 7%, with a margin of 22.2%, but stable sequentially.
Free cash flow for Q3 was €117 million, totaling €214 million for the first nine months, supported by a €50 million gain from CO2 emission rights optimization.
The company is executing a transformation strategy focused on operational excellence, digitalization, and cost savings, with €191 million in gross savings delivered since 2024 and a target of €350 million by 2028.
Interim dividend of €0.97 per share was approved, stable year-over-year, payable January 2026.
Financial highlights
Net sales declined 7% year-over-year in Q3, mainly due to lower volumes in Coatis and soda ash export markets.
Underlying EBITDA fell 7% to €232 million, with a margin of 22.2%.
Free cash flow year-to-date reached €214 million, on track to meet the full-year outlook.
CapEx for Q3 was €81 million, with a nine-month total of €214 million, on track to stay within the €300 million annual target.
Net debt decreased to €1.7 billion, with a leverage ratio of 1.8x.
Outlook and guidance
Full-year 2025 underlying EBITDA is expected between €880 million and €930 million.
Free cash flow from continuing operations is projected at around €300 million, with CapEx capped at €300 million.
Cumulative cost savings expected to exceed €200 million by year-end 2025.
No short-term improvement in the macro environment is anticipated; focus remains on cost savings and operational adjustments.
Q3 operational EBITDA excluding CO2 gain
Strategy for Soda Ash & Coatis market headwinds
Future impact of restructuring and cost savings
CO2 monetization: What drives future opportunities?
Rare earth: What triggers full EUR100M investment?
Performance Chemicals: Path to EBITDA improvement?
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Frequently asked questions
Solvay SA specializes in advanced materials and specialty chemicals. The company's products and solutions are utilized across a variety of sectors, including aeronautics, automotive, natural resources, environment, electrical, electronics, agrochemicals, food, consumer goods, construction, healthcare, and industrial applications. Solvay also has a focus on ustainability and eco-friendly materials, as made evident in its wide range of specialty polymers, essential chemicals, and chemical materials. The company's strategy focuses on partnering with customers worldwide to innovate and develop solutions catering to diverse end markets. The company is headquartered in Brussels, Belgium, and its shares are listed on the Euronext stock exchange.
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