3 de mayo de 2016 / 5:21 / en 2 años

Solvay cuts costs to beat analysts' estimates in Q1

BRUSSELS, May 3 (Reuters) - Belgian chemicals group Solvay on Tuesday reported better-than-expected results for the first quarter, as it was able to lower costs.

Underlying core profit (EBITDA) rose 2 percent in the first quarter to 602 million euros ($694.35 million), above the 585 million euros expected in a Reuters poll of seven analysts.

The group repeated its outlook for high-single digit EBITDA growth in 2016.

Separately, the group said it had agreed to sell its stake in Solvay Indupa, a unit with factories in Argentina and Brazil, to Brazilian group Unipar Carbocloro.

The transaction was based on an enterprise value of $202.2 million, Solvay added.

$1 = 0.8670 euros Reporting by Robert-Jan Bartunek; Editing by Biju Dwarakanath

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