Solvac (SOLV) H2 2024 earnings summary

Executive summary

• Net income for 2024 was €104.7 million, down €22.6 million year-over-year, mainly due to the absence of an interim dividend from Syensqo.

• Total dividend proposed for 2024 is €5.81 gross per share, unchanged from 2023.

• Cash income from dividends received from Solvay and Syensqo remained stable at €132.1 million.

Financial highlights

• Net income decreased to €104.7 million from €127.3 million in 2023.

• Financial income dropped by €24 million to €110.9 million, reflecting lower dividends.

• Operating costs, excluding non-recurring items, remained stable; non-recurring costs fell to €0.5 million.

• Administrative expenses were €3.1 million; financial charges increased to €3.5 million due to higher financing needs and interest rates.

Outlook and guidance

• The total dividend for 2024 is proposed at €5.81 gross per share, subject to AGM approval, maintaining payout stability.

• Dividend income from Solvay and Syensqo for 2024 is expected to remain at €4.05 per share, equal to 2023.