Solvay fourth quarter and full-year 2023 results - Seite 2

	Fourth quarter				Full year
Underlying (in € million)	2023	2022	% yoy	% organic	2023	2022	% yoy	% organic
Net sales	1,131	1,359	-16.8%	-18.9%	4,880	5,539	-11.9%	-12.6%
EBITDA	238	335	-28.8%	-24.5%	1,246	1,359	-8.3%	+0.2%
EBITDA margin	21.1%	24.6%	-3.6pp	-	25.5%	24.5%	+1.0pp	-
FCF	8	-19	n.m.		561	479	+17.3%
FCF conversion ratio (LTM)					45.4%	36.5%	+8.9pp
ROCE					20.4%	22.9%	-2.5pp

Philippe Kehren, Solvay CEO

“Solvay is well positioned for its new chapter. We approach it with clear objectives and determination to achieve them.

In 2023, despite macroeconomic challenges, we recorded high-quality results and I want to express my gratitude to all Solvay employees for this achievement. I also take this opportunity to thank all the teams, both at Solvay and Syensqo, who worked so hard on making the Partial Demerger a success.

Solvay already started to deploy its new strategy, supported by a solid balance sheet and a clear cash usage prioritization. I’m also very pleased with the significant progress we are making in our ESG roadmap and we remain committed to executing our energy transition, recognizing its critical importance for the planet, our communities, our customers and our competitiveness. As we look ahead into 2024, the macroeconomic environment remains uncertain, yet we view the future with confidence as we deploy our new operating model and carefully invest to deliver on our promises.”