Solvay reported lower first-quarter sales in 2026

Munich, Germany — Solvay reported lower first-quarter sales in 2026 but maintained solid profitability, supported by cost reductions, portfolio optimization and one-time gains.

Net sales fell 8.5% on an organic basis to 997 million euros compared with the same period a year earlier, reflecting weaker volumes across most businesses and pricing pressure, particularly in soda ash and Coatis.

Underlying earnings before interest, taxes, depreciation and amortization declined 10.1% organically to 219 million euros, with an EBITDA margin of 21.9%.

The company said performance was supported by a one-off gain of 7 million euros from a favorable litigation outcome in its Performance Chemicals segment and benefits from optimization of its carbon dioxide-related portfolio, which together helped offset transformation-related expenses.

Underlying net profit from continuing operations fell to 78 million euros from 102 million euros a year earlier.

Free cash flow totaled 26 million euros, in line with seasonal expectations, while capital expenditures reached 69 million euros.

Solvay continued its cost-cutting program, generating 22 million euros in structural savings during the quarter. The company said cumulative savings since 2024 now stand at 233 million euros, in line with its targets.

Net debt rose slightly to 1.7 billion euros at the end of March, following dividend payments, resulting in a leverage ratio of 2.0 times.

Looking ahead, Solvay reaffirmed its full-year outlook, expecting underlying EBITDA between 770 million euros and 850 million euros and free cash flow of at least 200 million euros after transformation expenses.