Belgian chemicals & pharmaceuticals group Solvay SA is expected to post strong 1Q results on 8 May 2007, driven by good performance at its industrial businesses, according to analysts polled by Thomson Financial News. REBIT (earnings before interest & taxation from on-going operations) is forecast at EUR 285-303M (EUR 293M), sales are seen at between EUR 2.2370-2.415BN, (EUR 2.357BN), while net profit is forecast down from 2006 at EUR 185-200M (238M), "We await solid results in the industrial divisions (although these divisions already performed at a good profitability level in 1Q 2006)," KBC Securities' analyst Wim Hoste said in a note to clients. The fall in net profit is due to an absence of non-recurring items, whereas the 1Q 2007 benefited from the EUR 102M capital gain on the sale of industrial foils, the analyst explained.
