Solvay’s revenue slightly increased by 0.5% to €1.134 billion in the fourth quarter of 2024 compared to the same period in 2023,
However, according to the annual results presented by the chemical group on Thursday, the group fell by 4% to €4.686 billion for the entire year due to declining prices.
Underlying EBITDA followed a similar trend, rising by 2.2% to €256 million in the fourth quarter, while dropping to €1.052 billion (-8.2%) for the year 2024.
"Despite a market environment showing few signs of recovery, our position as a key player in the chemical industry, coupled with our dominant presence in key markets, allowed us to achieve a strong financial performance in 2024, demonstrating our resilience once again," commented CEO Philippe Kehren.
This success is underpinned by continuous year-on-year volume growth in activities such as bicarbonate and peroxides, as well as significant cost savings from ongoing transformation and digitalisation efforts.
These savings exceeded the group’s forecast of €80 million, reaching €110 million, and are expected to hit €200 million this year as management aims to “continue focusing on transforming the company”.
The company will propose a gross dividend of €2.43 per share.
In 2025, Solvay expects its underlying EBITDA to remain stable, ranging between €1 billion and €1.1 billion.
