Solvay SA (SVYSF) Q2 2023 Earnings Call Transcript

Solvay SA (OTCQX:SVYSF) Q2 2023 Earnings Conference Call August 3, 2023 8:00 AM ET

Company Participants

Jodi Allen – Investor Relations

Ilham Kadri – Chief Executive Officer

Karim Hajjar – Chief Financial Officer

Conference Call Participants

JP Pandya – On Field Research

Chetan Udeshi – JPMorgan

Wim Hoste – KBC

Peter Clark – Societe General

Andreas Heine – Stifel


Dear analysts and investors, welcome to Solvay Quarter 2 2020 Results. Solvay, the floor is yours.

Jodi Allen

Hello, everyone, and welcome to Solvay’s Second Quarter 2023 Earnings Call. I’m Jodi Allen, Head of Investor Relations, and I’m joined today by our CEO, Ilham Kadri; and our CFO, Karim Hajjar. Today’s call is being recorded and will be accessible for replay on the Investor Relations section of our website later today. I would like to remind you that the presentation includes forward-looking statements that are subject to risks and uncertainties. You may refer to the slides related to today’s broadcast, which are available on our website.

And with that, I’ll turn the call over to Ilham.

Ilham Kadri

Thank you, Jody, and good afternoon, everyone. Our results this quarter and for the first half were aligned with our expectations. In early May, we shared our view that volumes would remain down, and we express confidence in our ability to maintain strong margins. Despite the continued challenging macro environment, we continue to deliver on our forecast.

Navigating this environment is not easy, and I’m proud of our teams who are staying the course, focusing on all actions that are within our control and staying close to our customers. When you look at the details of our results, you will see the tangible impact of their efforts on our pricing and costs.

Sales were down 9% organically versus second quarter 2022, contributing to a

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