Solvay experienced a continuation of the soft market environment, impacted by ongoing global tariff discussions and heightened geopolitical tensions in the second quarter,. This led to a progressive reduction of demand, and a slowdown in order books, particularly in certain soda ash end-markets and in the Coatis business unit. Visibility remains low and market conditions are expected to remain challenging throughout the second half of 2025

Solvay now expects underlying EBITDA to be between €880 million and €930 million, assuming current FX levels for the second half. This compares to the previous outlook that was to reach the lower half of the range from €1.0 billion to €1.1 billion.

Solvay confirms its Free Cash Flow from continued operations to Solvay shareholders to be around €300 million, with a maximum of €300 million of Capex, reflecting the management focus on cash generation and dividend cover.

In the second quarter of 2025, Solvay expects an underlying EBITDA of approximately €230 million, including a one-off revenue gain of around €20 million in the Special Chem business unit.

Due to the ongoing quiet period, Solvay will not further comment ahead of the Q2 2025 earnings release planned on July 30.