Financial Statements - Solvay

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General Glossary 158 Solvay Global Annual Report 2008 3S: Solvay Shared Services, the Group’s shared services center for Finance and Human Resources ABAF: Belgian Financial Analysts Association (Association Belge des Analystes Financiers) ACDV: Association chimie du végétal ADR: American Depositary Receipt AII: Agence de l’innovation industrielle BAT: Best Available Technologies BRIC: Brazil, Russia, India, China BSC: Business Support Centre CARB: California Air Resources Board CC: Competence Centre CEFIC: European Chemical Industry Council Central Europe: Hungary, Poland, Czech Republic, Romania, Slovakia, Germany, Austria, Slovenia, Bulgaria CEO: Chief Executive Offi cer CIS: Community of Independent States consisting of Armenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldavia, Russia, Tajikistan, Turkmenistan, Ukraine, Uzbekistan COPE: Center for Organics Photonics and Electronics Eastern Europe: Belarus, Estonia, Latvia, Lithuania, Moldavia, Romania, Russia, Ukraine ECHA: European Chemicals Agency EIB: European Investment Bank EPA: Environmental Protection Agency ESC: European Society of Cardiology Europe-27: Austria, Belgium, Bulgaria, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, United Kingdom FDA: Food and Drug Administration FTE: Full time equivalent GISSI-HF: GISSI Heart Failure HDL-cholesterol: High density lipoprotein – “good” cholesterol HPPO: Hydrogen Peroxide to Propylene Oxide HR: Human Resources ILO: International Labour Organization Kt: Kilotonne LCD: Liquid Cristal Display LDL-cholesterol: Low density lipoprotein – “bad” cholesterol MEA: Membrane Electrode Assembly Mercosur: South American Common Market (Republics of Argentina, Brazil, Paraguay and Uruguay) NAFTA: North American Free Trade Agreement (Canada, United States, Mexico) NBD: New Business Development OLED: Organic Light Emitting Diodes PAA: Peracetic acid PEEK: Polyether-ether-ketone PEMFC: Proton Exchange Membrane Fuel Cells PPSU: Polyphenylsulfone PTFE: Polytetrafl uoroethylene PVC: Polyvinyl chloride PVC-S: Suspension process PVDC: Polyvinylidene chloride PVDF: Polyvinylidene fl uoride R&D: Research and Development REACH: Registration, Evaluation and Authorization of Chemicals RFID: Radio-Frequency Identifi cation SAP: Systems, Applications and Products for data processing SBU: Strategic Business Unit SBT: Solvay Biochemicals Thailand SEP: Solvay Engineered Polymers SPE: Society of Plastics Engineers SSOM: Solvay Stock Option Management STOP: Safety, Training, Observation, Prevention TSBM: Twin-Sheet Blow-Molding. Fuel systems manufacturing systems which combines the advantages of blow molding with that of thermoforming UIC: Union des industries chimiques ULES: Ultra-low-Emissions Systems VCM: Vinyl chloride monomer Western Europe: Germany, Andorra, Austria, Belgium, Denmark, Spain, Finland, France, Greece, Ireland, Iceland, Italy, Liechtenstein, Luxembourg, Malta, Norway, Netherlands, Portugal, United Kingdom, San Marino, Switzerland, Sweden, Vatican
ABAF: Belgian Financial Analysts Association (Association Belge des Analystes Financiers) Cash fl ow: Net income plus total depreciation, amortization, impairments and other write-downs Corporate and Support Activities: Non-allocated items Corporate & Business Support: Non-allocated items, after larger direct allocations from 2007 onwards Dividend yield (net): Net dividend divided by the closing price on December 31 Dividend yield (gross): Gross dividend divided by the closing price on December 31 Earnings per share: Net income (Solvay’s share) divided by the weighted average number of shares, after deducting treasury shares bought in to cover stock option programs Earnings per share (excluding discontinued operations): As earnings per share, but excluding discontinued activities from the net income (Solvay share) Earnings per share (diluted): Net income (Solvay share) divided by the weighted average number of shares, after deducting treasury shares bought in to cover stock option programs, and adding back other potential sources of dilution Earnings per share (diluted, excluding discontinued operations): As diluted earnings per share, but excluding discontinued activities from the net income (Solvay share) EBIT: Earnings before interests and taxes Equity (per share): equity divided by the average number of shares for calculating IFRS results Idem for REBITDA IFRS: International Financial Reporting Standards REBIT: Operating result, i.e. EBIT before non-recurring items REBITDA: REBIT before recurrent depreciation and amortization ROE: Return on equity Velocity: Total number of shares traded during the year divided by the total number of listed shares, using the Euronext defi nition Velocity adjusted by free fl oat: Velocity adjusted as a function of the percentage of listed shares held by the public, using the Euronext defi nition Financial Glossary 159 Solvay Global Annual Report 2008 Glossaries
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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
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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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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 and 130: FINLAND Pipelife Finland OY, Oulu 5
Page 131 and 132: Summary fi nancial statements of So
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: Executive Committee 1 | Christian J
Page 165 and 166: Shareholders’ Diary - Tuesday May
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