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Company News

CORRECTED-Solvay beats Q2 estimates, confirms outlook

(Corrects EBIDTA drop in paragraph 2)

July 31 (Reuters) - Belgian chemicals group Solvay reported higher-than-expected second-quarter sales and earnings on Wednesday, driven by growth in aerospace, mining, agriculture and aroma sectors and helped by foreign currency.

Second-quarter earnings before interest, tax, depreciation, and amortization (EBITDA) fell 5.2% from a year earlier to 624 million euros, above a consensus provided by the company of 594 million euros ($662 million).

Solvay’s second-quarter revenue of 2.65 billion euros was also slightly above a consensus forecast of 2.62 billion euros and the maker of lithium derivatives for batteries upheld its 2019 guidance. (Reporting by Silvia Recchimuzzi in Gdynia Editing by Tomasz Janowski)

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