Ranulf Orr's questions to Solvay SA (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.