Solvay share falls to two-year low, lagging indicator of the SBF 120
The Belgian chemicals company is experiencing a heavy trading session after revising its annual outlook downwards. A broker has adjusted its target price, while the stock finds itself at the bottom of its benchmark index.
A decline of more than 5% that pushes the share below €23
The Solvay share is down 5.22% at €23.60 at midday, the largest decline in the SBF 120, which is down 0.69%. During the session, it touched €22.58, a two-year low that erases the previous low of €23.54 reached in 2024. The current price has moved away from it, but remains below the €24.26 support level.
It is also below its three moving averages: the gap is 5.03% with the 20-day MA (€24.85) and 10.44% with the 200-day MA (€26.35). Over the week, the decline is 5.07%.
An EBITDA target lowered to €720-740 million
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The drop follows the revision announced on October 19: Solvay lowers its 2026 EBITDA target, now set between €720 and €740 million. The third quarter suffered from the Middle East conflict and the prolonged shutdown of the Sadara peroxides plant in Jubail, Saudi Arabia. The range is calculated excluding revenues or compensatory measures that Sadara could provide by year-end.
The quarterly figures remain preliminary. For its part, JP Morgan is cutting its price target from €30.00 to €28.50, leaving an upside of approximately 21% compared to the current price, with an overweight view according to analysts' views. Full results are expected on November 4.
Challenging market environment, excluding potential recovery measures from Sadara, updated guidance reflects Middle East impact
Risks mentioned
Middle East conflict impact of approximately €-25 million on underlying EBITDA in Q3 2026
Continued shutdown of the Peroxide plant at the Sadara complex in Jubail, Saudi Arabia accounted for €-15 million in Q3 2026
Challenging market environment affecting Group performance in Q3 2026
Opportunities identified
Joint venture contractual framework includes mechanisms designed to recover lost profitability from Sadara shutdown
Group exploring all available avenues to mitigate financial impact of shutdown
Transformation program and focus on cash generation and cost savings targets
Outlook / guidance
Expected EBITDA: 730 millions d'euros
Management commentary: In light of these developments, Solvay has reviewed its full-year 2026 guidance. Excluding potential revenue or recovery measures from Sadara for the remainder of 2026, the updated guidance is: Underlying EBITDA between €720 and €740 million
The information presented in this article is provided for informational purposes only and does not constitute an investment recommendation, an incentive to buy or sell a financial asset, or investment advice. Readers are invited to conduct their own research before making any decision.
Investments in the stock market involve risks, including the risk of capital loss. Past performance of an asset or market is no guarantee of future results. Any investment decision should be made taking into account your personal financial situation, objectives and risk tolerance.
