Financial Statements - Solvay

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126 Solvay Global Annual Report 2008 CHINA Inergy Automotive Systems (Wuhan) Co., Ltd, Wuhan 50 Pl Inergy Automotive Systems Consulting (Beijing) Co., Ltd, Beijing 50 Pl THAILAND Inergy Automotive Systems Thailand Ltd, Bangkok 50 Pl Vinythai Public Company Ltd, Bangkok 49.9 Pl INDIA Inergy Automotive Systems India Pvt Ltd, Mumbai 50 Pl SOUTH KOREA Inergy Automotive Systems Co. Ltd, Kyungju 50 Pl Solvay & CPC Barium Strontium Korea Co. Ltd, Onsan 75 Ch JAPAN Inergy Automotive Systems KK, Tokyo 50 Pl SOUTH AFRICA Inergy Automotive Systems South Africa (Pty) Ltd, Brits 50 Pl VIRGIN ISLANDS Pipelife Holding (HK) Ltd, Tortola 50 Pl
Summary fi nancial statements of Solvay SA The annual fi nancial statements of Solvay SA are presented in summary format below. In accordance with the Companies’ Code, the annual fi nancial statements of Solvay SA, the management report and the statutory auditor’s report will be deposited with the National Bank of Belgium. These documents are also available free of charge on the internet or upon request from: Solvay SA rue du Prince Albert 33 B - 1050 Brussels The Statutory Auditor has expressed a reservation with regard to the decision of 2006 to maintain the value of Solvay Finance (Luxembourg) at the historical value of the investments contributed to it. The reserve relates solely to the accounts of Solvay SA and does not in any way concern the Group’s consolidated accounts. Balance sheet of Solvay SA (summary) EUR Million ASSETS 2007 2008 Fixed assets 3 579 4 266 Start-up expenses and intangible assets 73 40 Tangible assets 59 63 Financial assets 3 447 4 163 Current assets 2 668 2 356 Inventories 34 32 Trade receivables 119 86 Other receivables 2 515 1 072 Short-term investments and cash equivalents 0 1 166 Total assets SHAREHOLDERS’ EQUITY AND LIABILITIES 6 247 6 622 Shareholders’ equity 4 017 4 145 Capital 1 271 1 271 Issue premiums 18 18 Reserves 1 948 1 948 Net income carried forward 780 908 Investment grants 0 0 Provisions and deferred taxes 248 240 Financial debt 1 537 1 782 – due in more than one year 814 996 – due within one year 723 786 Trade liabilities 96 93 Other liabilities 349 362 Total shareholders’ equity and liabilities 6 247 6 622 Financial 127 Solvay Global Annual Report 2008 Financial
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Managing Challenges Solvay Global A
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Key fi gures - Solvay Group Financi
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February 1 Caprolactones Solvay con
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Apart from increasing our competiti
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and optional overtime and taking of
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... and Long-Term Value Creation Th
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and using it without limits, the pi
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Chemicals Sales: EUR 3.1 billion -
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2008 : operating result down 19% on
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EUR million 2007 2008 2008/2007 GRO
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Balance sheet Total Equity stood at
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Current profi t before taxes amount
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Robot in Weesp. This 384 wells plat
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Key fi gures [EUR million] 2006 200
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Flagship Products in 2008 Therapeut
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Sales of less important products In
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Sodium bicarbonate. Sodium bicarbon
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natural resources and limit waste d
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The Organic cluster: Molecular Solu
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Solvay specialty polymers The outst
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Technological leadership through Re
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production capacities have been inc
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New Business Development OLED. Orga
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future) reacts with atmospheric oxy
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Increasing cultural diversity. Solv
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New career management process In 20
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The 5x5 Matrix The 5x5 Matrix is th
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Investors: responding to growing in
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Financial Statements The following
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Consolidated balance sheet EUR Mill
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Minority interests The increase in
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• IFRIC 15 Agreements for the con
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9. Research and Development costs R
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Key assumptions & key sources of es
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General description of the segments
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Information per primary segment for
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For the Pharmaceuticals Sector, whi
Page 79 and 80: - Current tax represents the tax pa
Page 81 and 82: Other information All the Group’s
Page 83 and 84: The acquisitions in 2008 consist ma
Page 85 and 86: Alexandria Sodium Carbonate On 17 O
Page 87 and 88: (20) Capital increase / redemption
Page 89 and 90: Consolidated balance sheet (22) Int
Page 91 and 92: (24) Tangible assets (including fi
Page 93 and 94: (26) Other investments EUR million
Page 95 and 96: (29) Provisions EUR Million Employe
Page 97 and 98: The amounts recorded in the balance
Page 99 and 100: Actuarial assumptions used in deter
Page 101 and 102: - the risks attached to ongoing lit
Page 103 and 104: Fair value of fi nancial debts For
Page 105 and 106: ) Balance sheet risk The Group’s
Page 107 and 108: Financial instruments IAS 39 defi n
Page 109 and 110: (32) Assets held for sale and liabi
Page 111 and 112: Management of Risks Acting responsi
Page 113 and 114: In reference to Raw Materials, in a
Page 115 and 116: Since 2007 a compliance organizatio
Page 117 and 118: Participation in venture capital fu
Page 119 and 120: Compensation report 1. Description
Page 121 and 122: affi liated to the Pension Regulati
Page 123 and 124: Companies leaving the Group Country
Page 125 and 126: SolVin France SA, Paris 75 Pl Vival
Page 127 and 128: Solvay Soda Ash Joint Venture, Hous
Page 129: FINLAND Pipelife Finland OY, Oulu 5
Page 133 and 134: STATUTORY AUDITOR’S REPORT To the
Page 135 and 136: Report on the application of the Co
Page 137 and 138: Introduction This report presents t
Page 139 and 140: The Board of Directors noted their
Page 141 and 142: notice of the meeting by mail at th
Page 143 and 144: Year of birth Year of 1st appointme
Page 145 and 146: eing a non-executive director of a
Page 147 and 148: 4.5.2. The Audit Committee At Janua
Page 149 and 150: corresponding to the decision or re
Page 151 and 152: which remained valid for the 2008 f
Page 153 and 154: Manager, a member of the Executive
Page 155 and 156: EUR The Solvay share compared with
Page 157 and 158: ANNEX 1 Audit Committee Mission Sta
Page 159 and 160: during the 30 days preceding the st
Page 161 and 162: Executive Committee 1 | Christian J
Page 163 and 164: ABAF: Belgian Financial Analysts As
Page 165 and 166: Shareholders’ Diary - Tuesday May
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Financial Statements - Solvay

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