Solvay SA (XBRU:SOLB)

€ 33.65 -0.74 (-2.15%) Market Cap: 3.60 Bil Enterprise Value: 5.19 Bil PE Ratio: 1.82 PB Ratio: 2.48 GF Score: 61/100

Q3 2019 Solvay SA Earnings & Strategy Review Call Transcript

Nov 07, 2019 / 01:00PM GMT

Release Date Price: €19.69 (-4.12%)

Transcript

Operator

Welcome to Solvay's third quarter's earning and strategy update call. We're sorry to start a couple of minutes late due to a technical issue with the recording. Today, Karim will begin by reviewing our Q3 and 9 months results, and Ilham will then follow with an overview of Solvay's new group strategy, and then we will open up for Q&A.

For those who follow-up to the conf call, a copy of the webcast materials can be found on our website. Now I'd like to turn over the call to Karim.

Karim Hajjar

Solvay SA - CFO & Member of the Executive Committee

Thank you, Jeff. Good morning, and good afternoon. I will begin on Slide 4. As we anticipated, the macro headwinds we experienced in the first half of the year continued into the third quarter. They proved to be consistently stronger than economic indicators were telling us in the last 6 to 9 months. This impacted key markets, mainly automotive, electronics and oil and gas, which represents around 25% of our sales.

To illustrate the point, worldwide vehicle production for 2019 was predicted to

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