Financial Statements - Solvay

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10 Strategic Positions of Solvay Sales: EUR 9.5 billion – REBIT: EUR 965 million 29 433 employees Pharmaceuticals Main products Europe N. America World Fibrates 1 1 1 Antivertigo products 1 1 1 Pancreatic enzymes Antispasmodics 1 1 1 (irritable bowel syndrome) 2 2 1 Female hormone treatment 3 2 2 Male hormone treatment 3 1 1 Chemicals Main products Europe World Soda ash 1 1 Sodium bicarbonate 1 1 Hydrogen peroxide 1 1 Caustic soda 2 3 Plastics Main products Europe World Fluorinated polymers 1 3 Other Specialty Polymers Inergy Automotive Systems amongst the world leaders (fuel systems) amongst the 2 world leaders Vinyls 2 3 Pipelife (pipes & fi ttings) leader on its markets Source: Solvay, calculations based on information publicly available in external publications, in particular IMS, Harriman Chemsult, CMAI, SRI. Solvay Global Annual Report 2008 Pharmaceuticals Sales: EUR 2.7 billion – REBIT: EUR 509 million 9 660 employees Therapeutic fi elds Integrated franchises (R&D and commercial) • Cardiometabolics (dyslipidemia, type 2 diabetes, acute heart failure, diabetic nephropathy, pulmonary hypertension, atherosclerosis); • Neuroscience (psychosis, Parkinson’s disease, traumatic brain injury, bipolar disorder); • Niches in fl u vaccines and pancreatic enzymes Commercial franchises • Gastroenterology; • Women’s and men’s health. Strategic priorities (2010) • REBIT: EUR 640 million; • Operating margin* ≥ 20%; • Effi ciency improvements: EUR 300 million of annual synergies; • Investment focused on R&D. * REBIT/sales Pharmaceuticals • 20% of Pharmaceuticals sales from emerging countries • Acquisition of Innogenetics nv Mercosur Geographic Deployment and • Modernization of vinyls unit in Brazil • Energy plant being built in Argentina (Solalban)
Chemicals Sales: EUR 3.1 billion – REBIT: EUR 238 million 8 966 employees 4 clusters Minerals • Soda ash and specialties (bicarbonate); • Advanced Functional Minerals. Electrochemistry, fl uorinated products • Electrochemistry and derivatives (caustic soda, epichlorohydrin); • Fluorinated products. Oxygen • Hydrogen peroxide; • Persalts. Organic (Molecular Solutions) Strategic priorities • Intensifying our geographic expansion; • Pursuing technological innovation; • Growth in specialties (mainly bicarbonate and fl uorinated and organic specialities); • Competitiveness. Technological Innovation Platforms Russia/CIS • Major industrial project in vinyls (RusVinyl) • Inergy to start up in Russia soon Rest of world • Acquisition of Alexandria Sodium Carbonate Company in Egypt Plastics Sales: EUR 3.7 billion – REBIT: EUR 264 million 8 816 employees 2 clusters Specialties • Specialty Polymers (high and ultra-high performance polymers like fl uorinated Polymers, elastomers and fl uids, barrier materials, polyarylamides, polysulfones, high performance polyamides, liquid crystal polymers); • Inergy Automotive Systems (50/50 joint venture with Plastic Omnium). Vinyls • Vinyls (integrated electrolysis chain, VCM (monomer), PVC (polymer) and PVC compounds); • Pipelife (50/50 joint venture with Wienerberger). Strategic priorities • Permanently reinforcing the robustness of our businesses; • Focusing on: – society’s fundamental, long-term needs; – specifi c attractive growth regions; • Accelerating growth by taking advantage of opportunities linked to materials sciences; • Keeping innovation and R&D as absolute priorities. Asia • Thailand: vinyls capacity extension and investments in Chemistry (epichlorohydrin (EPICEROL ® ), hydrogen peroxide (HPPO)) • India: start-up of PEEK unit (Specialty Polymers) • China: start-up of Specialty Polymers plant (POLYMIST ® ) and Inergy plant • South Korea: production unit under construction for F1EC (fl uorinated specialty) Strategic Positions of Solvay 11 Solvay Global Annual Report 2008 Strategic Positions of Solvay
Page 1 and 2: Managing Challenges Solvay Global A
Page 3 and 4: Key fi gures - Solvay Group Financi
Page 5 and 6: February 1 Caprolactones Solvay con
Page 7 and 8: Apart from increasing our competiti
Page 9 and 10: and optional overtime and taking of
Page 11 and 12: ... and Long-Term Value Creation Th
Page 13: and using it without limits, the pi
Page 17 and 18: 2008 : operating result down 19% on
Page 19 and 20: EUR million 2007 2008 2008/2007 GRO
Page 21 and 22: Balance sheet Total Equity stood at
Page 23 and 24: Current profi t before taxes amount
Page 25 and 26: Robot in Weesp. This 384 wells plat
Page 27 and 28: Key fi gures [EUR million] 2006 200
Page 29 and 30: Flagship Products in 2008 Therapeut
Page 31 and 32: Sales of less important products In
Page 33 and 34: Sodium bicarbonate. Sodium bicarbon
Page 37 and 38: natural resources and limit waste d
Page 39 and 40: The Organic cluster: Molecular Solu
Page 41 and 42: Solvay specialty polymers The outst
Page 45 and 46: Technological leadership through Re
Page 47 and 48: production capacities have been inc
Page 49 and 50: New Business Development OLED. Orga
Page 51 and 52: future) reacts with atmospheric oxy
Page 53 and 54: Increasing cultural diversity. Solv
Page 55 and 56: New career management process In 20
Page 57 and 58: The 5x5 Matrix The 5x5 Matrix is th
Page 59 and 60: Investors: responding to growing in
Page 61 and 62: Financial Statements The following
Page 63 and 64: 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
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- Current tax represents the tax pa
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Other information All the Group’s
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The acquisitions in 2008 consist ma
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Alexandria Sodium Carbonate On 17 O
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(20) Capital increase / redemption
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Consolidated balance sheet (22) Int
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(24) Tangible assets (including fi
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(26) Other investments EUR million
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(29) Provisions EUR Million Employe
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The amounts recorded in the balance
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Actuarial assumptions used in deter
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- the risks attached to ongoing lit
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Fair value of fi nancial debts For
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) Balance sheet risk The Group’s
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Financial instruments IAS 39 defi n
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(32) Assets held for sale and liabi
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Management of Risks Acting responsi
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In reference to Raw Materials, in a
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Since 2007 a compliance organizatio
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Participation in venture capital fu
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Compensation report 1. Description
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affi liated to the Pension Regulati
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Companies leaving the Group Country
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SolVin France SA, Paris 75 Pl Vival
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Solvay Soda Ash Joint Venture, Hous
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FINLAND Pipelife Finland OY, Oulu 5
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Summary fi nancial statements of So
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STATUTORY AUDITOR’S REPORT To the
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Report on the application of the Co
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Introduction This report presents t
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The Board of Directors noted their
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notice of the meeting by mail at th
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Year of birth Year of 1st appointme
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eing a non-executive director of a
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4.5.2. The Audit Committee At Janua
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corresponding to the decision or re
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which remained valid for the 2008 f
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Manager, a member of the Executive
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EUR The Solvay share compared with
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ANNEX 1 Audit Committee Mission Sta
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during the 30 days preceding the st
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Executive Committee 1 | Christian J
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ABAF: Belgian Financial Analysts As
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Shareholders’ Diary - Tuesday May
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Financial Statements - Solvay

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