Solvay June 2023 Call Highlights
As I said before, the best is ahead of us. While it isn’t the main topic of the day, it would be remiss of me not to say a few words on the current trading environment. Like most of the companies in our industry, we are seeing sharper volume declines across the majority of our businesses signaling that there is no end in sight yet to the destocking we’ve been seeing for the past few months.
The good news is that our gross margins are holding up well. You will remember that we indicated the decline in EBITDA in Q2 sequentially of around 5% to 10%. And based on what we see today in this environment, we expect it to be much closer to the 10 than the 5, indeed. Looking beyond the second quarter, visibility remains limited beyond the next 3 months, and there are no signs of any recovery at this stage.
The Materials segment includes the highly valued, high-margin specialty polymers and composites businesses that supply unique materials that are critical to customers, yet comprise a small overall cost to them. This segment also includes our growth platforms for batteries, green hydrogen, biotech and thermoplastic composites. As you know very well, it’s an industry leader focused on bringing new solutions to customers that address critical performance needs, allowing our customers to become more sustainable.
As you know very well, our Materials segment is a highly attractive business serving automotive, aerospace, electronics and health care markets. It’s a high barrier to entry business, delivering industry-leading margins greater than 30%. And it is an innovation machine. It has 1,000 patent families in the segment, with more than 205 in the past 2 years alone. And with many exciting opportunities in front of us, it’s positioned to continue to deliver well above market growth.
Dongyue Profit warning
Dongyue Group Sees Significant Decrease In Net Profit Attributable For Six Months
DONGYUE GROUP LTD SEES SIGNIFICANT DECREASE IN ITS NET PROFIT ATTRIBUTABLE TO OWNERS OF COMPANY FOR SIX MONTHS.DECREASE IN GROUP’S PROFIT DUE TO SIGNIFICANT DECREASE IN AVERAGE MARKET PRICES OF SOME OF GROUP’S MAJOR PRODUCTS.RECORDED SIGNIFICANT DECREASE BY APPROXIMATELY 83% IN NET PROFIT ATTRIBUTABLE FOR FIVE MONTHS ENDED 31 MAY.
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