Solvay Sa · EURONEXT:SOLB
Solvay Sa — Solvay Sa Act — Q1 2026 Earnings Presentation
21 slides from Solvay Sa's earnings presentation, May 7, 2026
Slide 1: First Quarter 2026 Results
First Quarter 2026 Results May 7, 2026 Philippe KEHREN Alexandre BLUM CEO CFO
Slide 2: Forenote
Forenote This presentation may contain forward-looking information. Forward-looking statements describe expectations, plans, strategies, goals, future events or intentions. The achievement of forward-looking statements contained in this presentation is subject to risks and uncertainties relating to
Slide 3: Table of Contents
TABLE OF CONTENTS 01 Introduction Philippe Kehren 02 Financials Alexandre Blum 03 Energy management Philippe Kehren at Solvay 04 Outlook Philippe Kehren 05 Q&A
Slide 4: Introduction
Philippe KEHREN 01 INTRODUCTION 4
Slide 5: Safety at the heart of our operations
Safety at the heart of our operations 0.5 15 0.45 13 0.4 0.33 0.33 11 0.35 0.30 0.31 0.30 0.29 0.29 9 0.3 0.27 0.24 0.25 7 0.2 4 4 5 0.15 3 3 3 3 0.1 1 1 0.05 0 0 1 0 -1 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 2024 2024 2024 2024 2025 2025 2025 2025 2026 High severity reportable injuries Reportable Injury Rate
Slide 6: Q1 2026 results
Q1 2026 results Showcasing resilience in a difficult macro environment € 997m € 219m € 22m € 26m € 1.7bn Underlying Underlying Underlying NET SALES EBITDA COST SAVINGS FREE CASH FLOW1 NET DEBT -9% (organic basis) -10% (organic basis) €233m since 2024 normal seasonality 2.0x leverage 21.9% margin 1.
Slide 7: Financials
Alexandre BLUM 02 FINANCIALS
Slide 8: Q1 underlying Net Sales bridge
Q1 underlying Net Sales bridge Volumes and prices slightly down year-on-year Volumes down yoy (-3.3%) 1,122 - -31 -37 -56 Soda ash volumes flat 997 Scope Limited volumes erosion in other businesses Forex Volume conversion Price & mix Lower pricing (-5.0%) Main impacts from Soda Ash seaborne and Coat
Slide 9: Q1 underlying EBITDA bridge
Q1 underlying EBITDA bridge Healthy EBITDA margin maintained in challenging environment MARGIN -0.3pp MARGIN Volume & mix 22.3% 21.9% €+38m CO2 emissions rights optimization +21 -13 250 - -7 -23 -10 Net pricing 219 Coatis : Negative net pricing y-o-y Scope Net Forex Volume pricing conversion & mix F
Slide 10: Basic Chemicals results
Basic Chemicals results Q1 2026 (€m) % YoY % YoY organic Soda Ash & Deriv. 397 -9% -7% Peroxides 213 -9% -6% uNet Sales 610 -9% -7% uEBITDA 129 -20% -17% uEBITDA Margin 21.2% Q1 Soda Ash & Soda ash volumes flat, pricing down especially in the seaborne market Derivatives Bicarbonate very resilient Hi
Slide 11: Performance Chemicals results
Performance Chemicals results Q1 2026 (€m) % YoY % YoY organic Silica 129 -10% -7% Coatis 115 -16% -16% Special Chem 142 -15% -11% Net Sales 387 -14% -11% uEBITDA 84 -11% -8% uEBITDA Margin 21.6% Q1 Silica Lower tire volumes vs a strong base in Q1 2025 Highlights Coatis Steady volumes but pricing do
Slide 12: FCF generation of €26m
FCF generation of €26m Capex Positive Q1 cash generation, in line with usual seasonality €-69m, strict discipline in Capex spending 219 -69 Working Capital €-45m consistent with usual seasonality -45 despite a record low year-end WC position Capex -59 Working capital Provisions -16 €-59m still above
Slide 13: Capital structure
Capital structure Healthy balance sheet and leverage ratio S&P RATING: BBB- Stable outlook -101 -9 7 -1,674 -1,597 26 In/outflow Other from M&A Underlying net debt: FCF to Dividends Solvay to Solvay share- share- holders holders €1.7 Bn Employee benefits liabilities: €0.6 Bn Environmental liabilitie
Slide 14: Energy management at Solvay
Philippe KEHREN 03 ENERGY MANAGEMENT AT SOLVAY
Slide 15: Energy exposure
Energy exposure Energy consumption (GWh) Reducing reliance on fossil fuel Reduced energy consumption 20,000 18,000 4% 7% € 540m -4% 16,000 26% 14,000 30% 12,000 Solvay total energy spend1 Energy consumption vs 2023 10,000 34% (down -29% in 2 years) Reflecting volume impact but 8,000 38% also continu
Slide 16: Energy spend by region
Energy spend by region Europe coal phase-out Concentration in Europe reflecting the Group’s industrial footprint leading the energy transition roadmap EUROPE NORTH Europe’s energy spend by type AMERICA 67% (-3pp vs 2023) 14% ASIA-PAC • Europe accounts for the & MEA Group’s remaining coal exposure an
Slide 17: Energy and raw materials risk management
For Information Energy and raw materials risk management Proven expertise to mitigate price risk in a volatile environment • Energy transition projects to reduce structural dependence on imported fossil fuel ENERGY • Customer contracts for energy-intensive activities mostly include energy cost pass-
Slide 18: Outlook
Philippe KEHREN OUTLOOK SOLVAY
Slide 19: 2026 guidance
2026 Underlying EBITDA Free Cash Flow2 Capex limited to Between Minimum Maximum €770 million and €200 million €300 million €850 million1 1 Assuming a 1.20 EUR/USD exchange rate 2 Free Cash Flow to Solvay shareholders from continuing operations The guidance for 2026 is net of €90 million of transform
Slide 20: Q&A
Q&A SOLVAY
Slide 21: Thank you
THANK YOU Visit solvay.com Contact media relations Contact investor relations 21