Edition:
United States

Solvay restates financial information and updates guidance after polyamide discontinuation


Tuesday, 19 Sep 2017 01:10am EDT 

Sept 19 (Reuters) - SOLVAY ::SOLVAY RESTATES FINANCIAL INFORMATION FOLLOWING DISCONTINUATION OF POLYAMIDE AND UPDATES 2017 GUIDANCE.POLYAMIDE BUSINESS PERFORMED PARTICULARLY STRONGLY THIS YEAR AND ITS DISCONTINUATION REDUCES GROUP'S 2017 EBITDA GROWTH.WEAKENING OF MOST FOREIGN CURRENCIES VERSUS EURO ALSO REDUCES PROFIT REPORTED IN EUROS.BASED ON CURRENT EXCHANGE RATES, SOLVAY ESTIMATES 6% TO 8% UNDERLYING EBITDA GROWTH FOR FULL YEAR 2017.REMAINS ON TRACK TO ACHIEVE PREVIOUS GUIDANCE OF MORE THAN EUR 800 MILLION OF FREE CASH FLOW.RESTATES FINANCIAL INFORMATION FOLLOWING DISCONTINUATION OF POLYAMIDE AND UPDATES 2017 GUIDANCE.H1 RESTATED NET SALES EUR 5.18 BILLION VERSUS EUR 5.99 BILLION PREVIOUSLY ANNOUNCED.H1 RESTATED EBITDA EUR 1.18 BILLION VERSUS EUR 1.32 BILLION PREVIOUSLY ANNOUNCED. 

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