Belgian chemical and pharmaceutical group Solvay SA“s chief executive, Christian Jourquin, said the “excellent” operating results in 2006 are achievable in 2007.
“I can confirm we can achieve the ex…
Belgian chemical and pharmaceutical group Solvay SA“s chief executive, Christian Jourquin, said the “excellent” operating results in 2006 are achievable in 2007. “I can confirm we can achieve the excellent operating results of last year”, he said in a conference call following the group“s 3Q 2007 results. He said this would be achievable if global macroeconomic conditions, energy costs and the euro-dollar exchange rate remain the same. He added that there would be “no slowdown” on the group“s main products. Vincent De Cuyper, general manager of the chemicals business said he remained positive on demand and price stability next year. He declined to comment specifically on reports that there are continuing negotiations for soda ash price increases in 2008, but said “it is expected they will go up”. Solvay posted forecast-beating 3Q results, which showed a rise in net profit to EUR 218 million from EUR 181 million in the same period a year earlier, exceeding analysts“ forecasts of EUR 149-179 million. Sales grew to EUR 2.399 billion from EUR 2.305 billion. Recurring EBIT (REBIT) came in at EUR 309 million from EUR 286 million in 2006. Analysts forecast REBIT at EUR 291-293 million.