![]() Solvay, which makes lithium derivatives for batteries, said first-quarter net turnover rose 3.6% year-on-year to 3.17 billion euros, driven primarily by higher prices in automotive, electric vehicle and electronic markets, higher prices in soda ash, in agriculture and coating markets. "We see probably a bit of recovery in the second half of the year from the volume perspective," Kadri told reporters. "We have been favouring pricing against volumes so going forward in the second quarter, volumes are not going to recover much compared to quarter one," CEO Ilham Kadri said. The company forecast earnings before interest, tax, depreciation and amortisation (EBITDA) for 2023 to grow within a range of 2% to 5% compared to 2022, and expects free cash flow at around 750 to around 900 million euros ($996 million). Solvay said its ongoing lower volumes were offset by higher pricing in all its segments and pointed to some recovery in volumes in the second half of 2023. BRUSSELS, May 4 (Reuters) - Belgian chemicals group Solvay reported higher-than-expected first-quarter results on Thursday and lifted its full-year profit and cash outlooks, but lower volumes hit its shares. ![]()
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