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Edge14 Aug 2026
Deutsche Qualität: The Story of Birkenstock
From an 18th-century German shoemaker to a global footwear brand, how Birkenstock turned an orthopedic insole into the world's most popular sandal.
Solvay
Solvay (SOLB) investor relations material
Solvay Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary29 Jul, 2026
Executive summary
Q2 2026 underlying net sales were €1,031 million, down 7.4% organically year-over-year, mainly due to weak soda ash pricing and the Middle East conflict disrupting operations.
Underlying EBITDA fell 19.5% organically to €187 million, with margin at 18.1%, impacted by the Middle East conflict and absence of a €20 million one-off gain from Q2 2025.
Bicarbonate and electronic-grade peroxides performed well, while soda ash export markets faced persistent pricing pressure; Coatis showed sequential improvement.
Transformation and cost-saving initiatives delivered tangible safety improvements and €26 million in structural cost savings in Q2 2026.
Free cash flow for H1 2026 was €15 million, with Q2 at €-11 million; capex for H1 reached €141 million.
Financial highlights
Q2 2026 underlying net sales: €1,031 million (-7.4% organic yoy); EBITDA: €187 million (-19.5% organic yoy); EBITDA margin: 18.1%.
H1 2026 underlying net sales: €2,028 million (-8.0% organic yoy); EBITDA: €406 million (-14.7% organic yoy); net profit: €139 million (-29.2% yoy).
Free cash flow to shareholders in H1 2026 was €15 million; Q2 2026 was -€11 million due to seasonality and concentrated cash outflows.
Capex for H1 2026 was €141 million, focused on HSE, maintenance, and energy transition projects.
Net debt stood at €1.8 billion at end of June 2026, leverage ratio at 2.3x, temporarily higher due to dividend payment.
Outlook and guidance
Full-year 2026 guidance confirmed: underlying EBITDA expected between €770 million and €850 million, including €20 million negative currency impact and €40 million transformation expenses.
Free cash flow to shareholders expected to be at least €200 million (net of €90 million transformation expenses), with capex around €300 million.
Guidance assumes the Saudi peroxides plant restarts before end of Q3 2026.
Cumulative structural cost savings targeted at €300 million by end of 2026.
Temporary transformation expenses will continue to impact free cash flow through 2027.
Bridge to achieve the €200m FCF target
Impact of Jubail plant restart on H2 guidance
Strategic value of La Rochelle rare earth project
Drivers of the 2.3x underlying leverage ratio
Timeline for dysprosium and terbium separation
Impact of Syensqo TSA exit on corporate costs
Seaborne soda ash pricing impact on margins
HPPO plant restart and Peroxides volume recovery
Rare Earths capacity and market share targets
Sadara plant restart impact on 2026 guidance
Partial view of Summaries dataset, powered by Quartr API
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Latest events from Solvay
- Q1 2026 sales and EBITDA declined, but margins and 2026 guidance remain resilient.SOLB
Q1 2026 - Strong 2025 results with robust cash flow, cost savings, and accelerated sustainability initiatives.SOLBRoadshow presentation
- 2025 delivered strong cash flow and margins; 2026 outlook cautious with EBITDA €770–850m.SOLBQ4 2025
- Q3 sales and EBITDA fell 7%, but margins, cash flow, and guidance remained robust.SOLBQ3 2025
- Sales and EBITDA declined amid soft demand, but margins and cash flow stayed resilient.SOLBQ2 2025
- Q3 2024 delivered resilient sales and EBITDA, with guidance confirmed at the high end.SOLBQ3 2024
- Sequential EBITDA and margin gains offset year-over-year declines, with guidance upgraded.SOLBQ2 2024
- Q1 2025 sales and EBITDA fell, but margins held and 2025 guidance is reaffirmed.SOLBQ1 2025
- 2024 saw resilient EBITDA, strong cost savings, and reaffirmed growth and sustainability targets.SOLBQ4 2024
Next Solvay earnings date
Q3 20264 Nov, 2026
Solvay
Next Solvay earnings date
Q3 20264 Nov, 2026
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