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    Ranulf Orr

    Director and Senior Equity Analyst at Redburn at Redburn Atlantic

    Ranulf Orr is a Director and Senior Equity Analyst at Redburn Atlantic, specializing in coverage of chemicals and materials companies such as Croda International and DSM-Firmenich. He has consistently provided industry-leading insights, including price target calls and earnings forecasts, with ratings recognized on investment platforms like TipRanks and reflected in consensus data for covered firms. Orr began his analyst career over a decade ago and previously worked at Citi before joining Redburn Atlantic, gaining a reputation for robust sector research and consensus-building. He holds core professional credentials in equity research, including applicable UK regulatory registrations, and is noted for his detailed coverage of European and global industry leaders.

    Ranulf Orr's questions to SOLVAY S A /ADR/ (SLVYY) leadership

    Ranulf Orr's questions to SOLVAY S A /ADR/ (SLVYY) leadership • Q1 2025

    Question

    Ranulf Orr of Redburn Atlantic requested clarification on the phasing of the €90 million cost savings contribution for 2025, noting a potential discrepancy between H1 and H2. He also asked where the announced CapEx reduction was being made and if it would affect growth projects.

    Answer

    CEO Philippe Kehren stated that the CapEx reduction comes from minimizing discretionary spending while continuing with essential projects (maintenance, safety, energy transition) and small, high-return growth initiatives. CFO Alexandre Blum addressed cost savings by reiterating the commitment to the full-year target and explaining that the company focuses on savings to mitigate the business environment, implying the phasing is dynamic rather than mechanical.

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    Ranulf Orr's questions to SOLVAY S A /ADR/ (SLVYY) leadership • Q1 2025

    Question

    Ranulf Orr of Redburn Atlantic requested clarification on the phasing of cost savings for the year and asked where the announced CapEx reduction was being made and if it would affect growth projects.

    Answer

    CFO Alexandre Blum stated that the company remains committed to its savings target and will use cost controls to mitigate the market environment, implying a dynamic rather than a fixed quarterly phasing. CEO Philippe Kehren specified that the CapEx reduction targets discretionary projects, while essential CapEx for maintenance, safety, and energy transition, along with small high-return growth projects, will continue.

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