Separated from Solvay, the Syensqo entity succeeds in its IPO
The Brussels Stock Exchange was awaiting this major event with interest and after the green light from its shareholders, Solvay has approved Syensqo’s IPO. Taking advantage of the attractiveness of specialty chemicals activities, Syensqo had a good inaugural listing cycle.
On Friday, December 8, 2023, shareholders approved the spin-off between Solvay and Syensqo, a new entity focused on specialty chemicals. Two independent companies and the executive committee say they have approached the project « as an initial public offering for Syensqo and as a new birth for Solvay ».
160 years of history for Solvay
« This new chapter in our more than 160-year history promises to be exciting and will continue a precious legacy. It will advance two new stories for the benefit of all of our dedicated stakeholders that I have personally served as a member of the Board since 1998 », highlights Nicolas Boël, Chairman of Solvay.
Syensqo benefits from the financial attractiveness of the specialty polymers and composites activities
Syensqo has set the stage well for marketplaces specifying its financial objectives for 2028. Net sales are expected to grow by 5% to 7% between 2024 and 2028, while the EBITDA margin is expected to be around 25% in 2028. The Roce is expected to rise to around 15% by 2028. On the same day dedicated to financial analysts, the group also detailed its roadmap for sustainable development, called « ONE Planet ». On December 11 and 12, 2023, Syensqo’s stock market debut was good, several financial analysts pointing out that the specialty polymers and composites activities within the portfolio had significant growth and margin potential.
