Full-year 2025 results
Media conference call
February 24, 2026
Alexandre Blum
Chief Financial Officer
Philippe Kehren
Chief Executive Officer
One ambition
A leader in Essential Chemistry
Solvay's strategy to remain Essential
Purpose
"We are essential chemistry, making progress possible for generations"
Core value driversMarket leadership Cost leadership Sustainability
Strategic leversOperational excellence
Energy transition Process innovation Production
capacity
Key enablersOperating model People & culture
Sustainable cash flows and attractive returns
2
Four strategic levers
Operational excellence
Energy transition
Process innovation Production capacity
Full-year 2025 results
aligned with market expectations
€4.3bn
uNET SALES
€881m
uEBITDA
€350m
1
FCF
€101m
COST SAVINGS
€1.6bn
uNET DEBT
-6% organic | -13% organic 21% margin | €292m investments | €211m since early 2024 | 1.8x leverage |
3 1 to Solvay Shareholders from continuing operations
Fourth quarter 2025 performance
versus a high comparative base in Q4 2024
€20 million cost savings achieved in Q4
Net sales | % org. | EBITDA | % org. | Margins | % | |
Global | €1bn | -10% | €169m | -30% | 17% | -5.6pp |
Basic Chemicals | €635m | -8% | €160m | -20% | 25% | -4.2pp |
Performance Chemicals | €359m | -12% | €50m | -18% | 14% | -1.5pp |
4
Basic Chemicals include the Soda Ash & D erivatives, and Pero xides busi nesses.
Performance Chemicals include the Coatis, Silica and Special Chem businesses.
2025 ESG performance
Solvay is on track to meet its targets
2021 | 2024 | 2025 | Progress vs 2021 | Targets | |
Scope 1 & 2 GHG emissions (Mt) 1 | 9.1 | 7.6 | 6.4 | -29% | -30% by 2030 ; carbon neutrality by 2050 |
Scope 3 GHG emissions (Mt) | 13.2 | 12.1 | 11.5 | -13% | -20% by 2030 |
Coal phase out ( of sites) | 5 | 3 | 3 | -2 | All sites by 2030, except Devnya |
Biodiversity2 | n.a. | n.a. | 16% | n.a. | 30% of land under conservation by 2030 |
20233 | 2024 | 2025 | Progress vs 2023 | Targets | |
Safety (RI) | 45 | 41 | 44 | -1 | Aim for zero accident |
Diversity (% of women mid/senior management) | 26.3% | 27.3% | 28.8% | +2.5pts | 30% by 2030; aim for gender parity |
Living wage | n.a. | n.a. | 100% | n.a. | 100% by 2026 |
1 Enhanced methodology in 2025 to estimate SF6 emissions with improved accuracy.
5 Baseline and 2024 figures have been restated accordingly.
2 16% of permeable land is under conservation or restoration. Nature-positive impact yet to be quantified.
3 Revised baseline from 2021 to 2023 for social KPIS as it is more relevant due to the demerger of Syensqo
Addressing competitiveness
Operational excellence
Scaling digitalized maintenance across our factories
Expansion from 4,500 sensors in
2025 to 9,000 by 2027
Energy transition
Electrical furnace in Collonges, France
Waste-to-energy in Dombasle, France
Renewable hydrogen in Rosignano, Italy
Biomass in Torrelavega, Spain
Optimizing our footprint
Povoa, Portugal (2024)
Warrington, UK (2024)
Torrelavega, Spain (2024-26)
Salindres, France (2025)
Bad Wimpfen, Germany (2026)
Garbsen, Germany (2028)
Advocating for industry
In Europe:
Align ETS / CBAM with industrial reality Competitive energy access
Floor price for rare earths
In Brazil:
Fair and balanced market conditions
Rare earths
Expanding our offering to heavy rare earths, and ready to scale production to meet 30% of EU needs.
Circular silica
Advancing worldwide circular strategy, with the inauguration of Europe's first bio-circular facility in Livorno, Italy.
Electronic grade H2O2
Supporting the semiconductor industry with , which relies on this ultra-pure chemical for integrated circuit manufacturing.
Underlying EBITDA
Between €770 million and €850 million1Free Cash Flow2
Minimum €200 millionCapex limited to
Maximum €300 millionAssuming a 1.20 EUR/USD exchange rate
Free Cash Flow to Solvay shareholders from continuing operations
The guidance for 2026 is net of €90 million of transformation expenses
2026
outlook
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Q&A
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media.relations@solvay.com