Solvay raises full-year guidance

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Published: Oct 24, 2022, 06:06 GMT+00:00

(Reuters) - Belgian chemicals group Solvay raised its full-year guidance on Monday, saying it sees higher-than-expected third-quarter core profit.

(Reuters) – Belgian chemicals group Solvay raised its full-year guidance on Monday, saying it sees higher-than-expected third-quarter core profit.

The group expects its earnings before interest, tax, depreciation and appreciation (EBITDA) for 2022 to be around 28% organic growth compared to 2021, compared to the previous guidance of 14% to 18%.

Solvay said it sees its third quarter net sales reaching around 3.6 billion euros ($3.54 billion) and underlying EBITDA to come in at around 900 million euros, which it says is significantly higher than previous estimates.

($1 = 1.0163 euros)

(Reporting by Elena Vardon; Editing by Kim Coghill)

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