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    Martin Roediger • Kepler Cheuvreux

    Martin Roediger's questions to Solvay SA (SLVYY) leadership

    Martin Roediger's questions to Solvay SA (SLVYY) leadership • Q2 2024

    Question

    Martin Roediger asked for clarification on the sequential net pricing effect on EBITDA from Q1 to Q2 and whether the Q2 depreciation and amortization charge is a good run rate for the future.

    Answer

    CFO Alexandre Blum advised that the full-year depreciation and amortization run rate is approximately EUR 330 million. Regarding net pricing, he noted that a sequential comparison is difficult but the year-over-year negative impact was larger in Q2 because Q2 2023 was a peak. He added that an improved product mix in Q2 provided a slight benefit.

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    Martin Roediger's questions to Solvay SA (SLVYY) leadership • Q1 2024

    Question

    Martin Roediger of Kepler Cheuvreux inquired about the components of fixed cost savings, the Q2 EBITDA outlook, and the reasons for a significant drop in capital employed, particularly in investments in associates and joint ventures.

    Answer

    CEO Philippe Kehren confirmed that the EUR 19 million in Q1 savings were structural and separate from temporary central cost reductions. Regarding Q2, he anticipates a market environment similar to Q1 with a continued focus on cost control. CFO Alexandre Blum later clarified that the decrease in capital employed was due to the calculation methodology, the deconsolidation of a Russian joint venture, and the cessation of certain third-party energy activities.

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