Solvay, an international chemical company, has announced updates for strategic transformation, reaffirmed its financial guidance for 2016 and unveiled medium-term value objectives that will accelerate its drive to create sustainable and long-term value as a multi-specialty chemical company at its Capital Markets Day in London, held on September 29, 2016.
Senior executives discussed with investors and analysts market developments and Solvay's leading positions and innovative solutions. Presentations covered growth opportunities in advanced materials for sustainable mobility, including batteries for electric vehicles and composites in aircraft and cars. They also covered the unique capabilities of advanced formulations in surface chemistry and fluid behaviours, which focus on yield and efficiency optimisation while reducing environmental footprint.Solvay, an international chemical company, has announced updates for strategic transformation, reaffirmed its financial guidance for 2016 and unveiled medium-term value objectives that will accelerate its drive to create sustainable and long-term value as a multi-specialty chemical company at its Capital Markets Day in London, held on September 29, 2016.#
The Group's new objectives for the three-years to 2018 encompass both sustainability and financial targets. The sustainability targets will reinforce long lasting market leadership positions and include commitments to reduce greenhouse gas intensity by a fifth and raise the proportion of sustainable solutions to 40 per cent of Group sales.
These commitments will help to enhance financial value delivery from 2016 to 2018. Objectives, at constant scope and foreign exchange rates, include annual mid-to-high single-digit EBITDA growth. This objective reflects a continued focus on excellence programmes, with operational excellence alone delivering a further € 450 million. The company aims a cumulative free cash flow generation exceeding € 2.4 billion and an increase of cash flow return on investment by 50-100 basis points.
Jean-Pierre Clamadieu, chief executive officer of Solvay said, “Solvay's profound transformation over the past three years demonstrates we are well on track in making the Group more global, resilient, sustainable, and innovative. Our client base has changed very significantly in past years and we are becoming more and more a strategic partner with mission critical solutions which are key parts of our customer leading programs. The transformation towards a multi-specialty chemical company will continue. Our new mid-term targets encompass sustainability as well as financial delivery, to create value that stands the test of time.” (GK)
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