(Reuters) – Solvay has raised its second-quarter guidance, citing a strong performance driven by volumes and pricing as it weathers variable cost inflation.
The chemical group, which notably manufactures lithium derivatives for batteries, expects to achieve net sales of around 3.4 to 3.5 billion euros and an Ebitda (underlying profit before interest, taxes, depreciation and amortization) from 855 to 865 million euros for the second quarter of 2022.
On the Brussels Stock Exchange, the title gained 4% at the start of the morning.
The Belgian company also announced that it would raise its annual objectives when publishing its results on July 28.
Solvay joins other peers, such as the German chemicals giant, which beat forecasts in the second quarter, note analysts at Jefferies who believe that demand remains robust in its end markets of aerospace, automotive ( EV) and industry.
In May, Solvay had already raised its profit forecast for the full year 2022, after reporting record and better-than-expected results in the first quarter, under the combined effect of higher prices and an increase in sales volumes.
(Report Diana Mandia, written by Elena Vardon, edited by Kate Entringer)
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