- Q3 2025 net sales were €1,044 million, down 6.8% organically.
- Underlying EBITDA was €232 million, with a 22.2% margin.
- Free Cash Flow reached €117 million, including €50 million from CO2 rights.
- Net debt stood at €1.7 billion, with a leverage ratio of 1.8x.
Financial Performance
In Q3 2025, Solvay reported underlying net sales of €1,044 million, marking a 6.8% organic decline compared to Q3 2024. The decrease was primarily due to challenging conditions in the Southeast Asian soda ash market and Coatis. Underlying EBITDA for the quarter was €232 million, a 6.9% year-on-year decrease, with a stable sequential performance from Q2 2025, resulting in a 22.2% EBITDA margin.
Cost Savings and Cash Flow
Structural cost-saving initiatives contributed €26 million in Q3 2025, bringing total savings to €81 million for the year and €191 million since 2024. Free Cash Flow amounted to €117 million in Q3, with the nine-month total reaching €214 million. This includes approximately €50 million from optimizing the CO2 emissions rights portfolio.
Profit and Debt
Underlying net profit from continuing operations was €90 million, down from €108 million in Q3 2024. The Board approved an interim dividend of €0.97 per share, payable on January 21, 2026. Underlying net debt stood at €1.7 billion, with a leverage ratio of 1.8x.
2025 Outlook
Solvay confirmed its 2025 outlook, expecting full-year underlying EBITDA between €880 million and €930 million, and Free Cash Flow around €300 million, with a maximum of €300 million in Capex. Cumulative cost savings are projected to exceed €200 million by year-end.
