Solvay Group - Second quarter 2011 results

SOLVAY GROUP
                         2(nd) QUARTER BUSINESS REVIEW
 
Excellent operating result in the 2(nd) quarter of 2011:
REBITDA (EUR 304 million) up by 12% compared to the 2(nd) quarter of 2010
 
  * Increase in sales volume (+4%) reflecting very sustained overall global
    activity
  * Higher sales prices (+11%) compensating for rise in energy costs
  * Operating margin - REBITDA on sales - stable at 18%
  * Net result of EUR 111 million, greatly improved from last year
  * Launch of a friendly cash offer for Rhodia on June 15, 2011
 
Quote of the CEO
 
The 2(nd) quarter of 2011 has been excellent for Solvay with demand supporting
volume growth of 4% while we achieved prices 11% ahead of the same period last
year. Taken together this led to REBITDA and REBIT from continuing operations up
by 12% and 27% respectively. We continue to trade in line with our expectations.
 
Outlook
 
The Solvay Group is attentive to the macro-economic developments and the
evolution of the energy and ethyl­ene costs. In the context of the current
business climate and based on its strategy of sustainable and profitable growth,
Solvay expects to improve its annual operating result, both in Chemical and
Plastic activities in 2011.
 
The full press release is available on http://www.solvay.com/
 
Solvay Group - Second quarter 2011 results: 
http://hugin.info/133981/R/1534026/467412.pdf
 
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Source: Solvay S.A. via Thomson Reuters ONE
 
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