Solvay’s implementation of higher sales prices really helped to protect the group’s margins as the divisions gave a more mixed picture. The on-average higher raw material prices could be passed on, but had a negative effect on working capital, which additionally had to adsorb Solvay’s financing of customers. The Q3 figures fit into our broad picture, despite the slightly higher profitability. Consensus was broadly met under ‘underlying aspects’, but gave a different picture on the IRFS level.
08 Nov 2018
Higher prices protect margins
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Higher prices protect margins
Solvay SA (SOLB:WBO) | 0 0 0.5% | Mkt Cap: 11,953m
- Published:
08 Nov 2018 -
Author:
Martin Schnee -
Pages:
3
Solvay’s implementation of higher sales prices really helped to protect the group’s margins as the divisions gave a more mixed picture. The on-average higher raw material prices could be passed on, but had a negative effect on working capital, which additionally had to adsorb Solvay’s financing of customers. The Q3 figures fit into our broad picture, despite the slightly higher profitability. Consensus was broadly met under ‘underlying aspects’, but gave a different picture on the IRFS level.