Solvay's earnings miss estimates on oil, gas slump

摘要

Solvay reports that its adjusted net income dropped 74% in the fourth quarter of 2015 compared with the corresponding quarter of 2014, to ?55 million on sales down 1.3%, to ?2.5 billion. Adjusted recurring Ebitda (Rebitda) increased 3.6% year-on-year (YOY) in the fourth quarter, to ?429 million, slightly below analysts' consensus estimate of ?431 million provided by Vara Research (Frankfurt). Solvay's fourth-quarter adjusted earnings per share of ?0.65 was well below the consensus estimate of ?0.93.