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Solvay: Robust, Resilient, Reliable With A 3.6% Dividend

Published Sat, 13 Apr 2019 11:35:00 -0400 on Seeking Alpha

Introduction
It has been almost a year since I last discussed Solvay (OTCQX:SVYSF) (OTCQX:SOLVY) (OTCPK: SVYZY) here on Seeking Alpha, and now, the company has released its full-year results over 2018. I think this is a good moment to have another look at the company to see if I need to add to my current position.

Source: Yahoo Finance
Solvay is the largest Belgian company in the chemical sector with a history of over 150 years. The company is part of the BEL-20 index, so it's usually a much better idea to trade in the company's stock using the facilities of the Euronext Brussels exchange. The ticker symbol in Brussels is SOLB, the average daily volume is approximately 230,000 shares for a monetary value of around 2.3M EUR per day.
2018 was a strong year, despite headwinds in the chemical sector
Whereas BASF (OTCQX:BASFY) (OTCQX:BFFAF) had a relatively weak year in 2018 due to some non-recurring issues, Solvay was thriving as its revenue and (the underlying) EBITDA increased by mid-single-digit percentages. Perhaps, even more important is the fact that the EBITDA margin remained relatively stable, further emphasizing the excellent operating performance. The reported EBITDA didn't increase, but that's mainly due to a negative FX impact.

Source: annual report 2018
With a full-year (underlying!) EBITDA of 2.23B EUR and a Q4 EBITDA of 506M EUR, Solvay can be very happy as, especially, the Q4 results were a relief, considering Solvay was able to... Read more

Stock name Last trade   P/E Earnings/Share Dividend/Share Dividend yield
BASF SE 20.36   0.0 0.00 0.00 0.00

BASF SE - BASFY
BASF SE - BASFY  


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