Solvay’s figures gave a mixed picture. In general, the various businesses could not get hold of profitability gains stemming from higher volumes or operation excellence programmes. Adverse FX effects should not be only explanation. Neither our profitability expectations nor those of consensus have been met, but we value the recovery in some businesses and markets as positive.
28 Feb 2018
Volumes over FX – not everywhere
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Volumes over FX – not everywhere
Solvay SA (SOLB:WBO) | 0 0 0.5% | Mkt Cap: 11,953m
- Published:
28 Feb 2018 -
Author:
Martin Schnee -
Pages:
3
Solvay’s figures gave a mixed picture. In general, the various businesses could not get hold of profitability gains stemming from higher volumes or operation excellence programmes. Adverse FX effects should not be only explanation. Neither our profitability expectations nor those of consensus have been met, but we value the recovery in some businesses and markets as positive.