Solvay (SOLB) Roadshow presentation summary

Company overview and business segments

• Operates in 41 countries with 43 production sites and around 8,400 employees, generating €4.3bn in net sales and €881m in EBITDA for 2025.

• Focuses on essential chemicals, positioned between commodity and specialty chemicals, serving diversified end-markets such as automotive, food, healthcare, electronics, and construction.

• Two main business segments: Basic Chemicals (Soda Ash & Derivatives, Peroxides) and Performance Chemicals (Silica, Coatis, Special Chem), with leading global positions in soda ash and bicarbonate.

Strategic priorities and transformation

• Strategy centers on market leadership, cost leadership, and sustainability, leveraging operational excellence, energy transition, process innovation, and capacity expansion.

• Targets €300–350m in annual cost savings by 2028 through digitalization, standardization, and footprint optimization.

• Accelerates energy transition with a robust roadmap to carbon neutrality, including coal phase-outs and new technologies like e.Solvay for soda ash production.

• Invests in process innovation, such as bio-circular silica and breakthrough electrochemical processes, reducing CO₂ emissions and resource consumption.

Financial performance and outlook

• Delivered €350m free cash flow in 2025, maintaining a healthy 20.7% EBITDA margin despite a challenging environment with lower volumes and pricing, especially in soda ash and Coatis.

• Achieved €211m in cost savings over two years, with a leverage ratio of 1.8x and a BBB- credit rating.

• 2026 guidance: underlying EBITDA between €770–850m, free cash flow minimum €200m, and capex capped at €300m.