Solvay Says 4Q Net Profit Fell; Warns of 737 MAX, Coronavirus 1Q Headwinds
26 Febrero 2020 - 1:05AM
Noticias Dow Jones
By Mauro Orru
Solvay SA said Wednesday that its net profit in the fourth
quarter of 2019 decreased, and warned that the coronavirus
epidemic, the production halt of the 737 MAX and challenges in the
oil-and-gas market could affect its first quarter of 2020.
The Belgian chemical company said net profit for the quarter
fell to 163 million euros ($177.0 million) from EUR208 million the
previous fourth quarter.
Net sales fell to EUR2.4 billion from EUR2.57 billion compared
with analysts' estimates of roughly EUR2.58 billion, according to
FactSet.
Earnings before interest and taxes for the quarter fell to
EUR306 million from EUR325 million the previous quarter, while
earnings before interest, taxes, depreciation, and amortization for
the same period decreased slightly to EUR525 million from EUR531
million.
"Our focus on customers and costs amid the challenging market
backdrop enabled us to achieve stable Ebitda As we look ahead, we
are taking additional efficiency measures to further align our
structure to our GROW strategy and confront continuing headwinds,"
Chief Executive Ilham Kadri said.
Solvay said it expects organic underlying Ebitda to fall between
0% and 3% year-on-year in 2020, and that it expects consequences in
the first quarter of 2020 from the 737 MAX production halt, the
coronavirus epidemic, and challenges in the oil-and-gas market.
The company said it recommended a dividend of EUR3.75 gross per
share, effectively leaving it unchanged from the previous year.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
February 26, 2020 01:50 ET (06:50 GMT)
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