Belgium’s Solvay Q4 adjusted net profit grows 79%; net sales up 4%

14 February 2013 07:32  [Source: ICIS news]

SINGAPORE (ICIS)--Solvay’s fourth-quarter 2012 adjusted net profit jumped by 79% year on year to €203m ($274m), with net sales rising 4%, the Belgian speciality chemicals producer said on Thursday.

Adjusted net sales for the three m1onths to December stood at €2.99bn, with operating profit up 78% to €349m, the company said in a statement.

Fourth-quarter recurring earnings before interest, tax, depreciation and amortisation (REBITDA) were up 22% to €430m, it said.

For the whole of 2012, Solvay’s net profit slipped 2% year on year to €710m, but net sales increased 2% to €12.4bn and REBITDA was up 2% €2.07bn, the company said.

The comparative figures for 2011 are pro-forma figures.

“Solvay is committed to deliver on its €3bn REBITDA ambition in 2016 at constant perimeter and will maintain selective investments to support its growth engines,” it said.

($1 = €0.74)

By: Pearl Bantillo
+65 6780 4359

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