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Solvay Q1 profit climbs 23.3% YOY

Solvay SA said its first-quarter normalized net income was €1.36 per share, compared with the S&P Capital IQ consensus estimate of €1.48 per share.

EPS rose 23.3% year over year from €1.10.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was €113.8 million, a gain of 23.3% from €92.3 million in the prior-year period.

The normalized profit margin rose to 4.8% from 3.5% in the year-earlier period.

Total revenue climbed 6.3% year over year to €2.76 billion from €2.60 billion, and total operating expenses grew 6.8% on an annual basis to €2.51 billion from €2.35 billion.

Reported net income increased 72.5% year over year to €119.0 million, or €1.42 per share, from €69.0 million, or 82 cents per share.