Solvay 2017 Production Boosts Profit Growth
Belgian specialty chemicals maker Solvay reported that its profit (EBITDA) rose 7.5% from a year earlier to € 2.23 billion with sales up 6% to € 10.1 billion.
Solvay said volume rose 8%, "far outweighed" a 7% increase in fixed costs and rising raw material and energy prices.
This result also reflects the one-time synergies of 38 million euros in Cytec's business. This year's profit before interest, tax, depreciation and amortization profit margin remained at 22%.
Solvay's advanced materials business, which includes specialty polymers, increased sales by 8% to 1.202 billion euros.
Solvay said the increase was largely due to the growing demand for high-performance polymers from automobiles and smart devices, while slightly higher sales of airline composites this year.
The supplier expects its advanced materials business to continue to grow in 2018, largely due to the increased demand in its end markets, including aerospace, automotive, electronics, batteries and healthcare.