Financial Statements - Solvay

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Activities Group sales 2008 = EUR 9 490 million 3640 3120 2600 2080 1560 1040 520 0 2 601 2 591 2 699 2 998 3 031 3 096 3 950 3 800 3 695 Pharmaceuticals Chemicals Plastics Group REBIT 2008 = EUR 965 million [Including “Corporate & Business Support”: EUR -46 million] 480 420 360 300 240 180 120 60 0 451 457 509 315 345 238 409 Pharmaceuticals Chemicals Plastics Group employees in 2008 [Dec. 31, 2008]: 29 433 people A global presence Group sales 2008 = EUR 9 490 million 31 % 9 % 3 % 57 % � Europe 51 % European Union (27) 6 % Other European countries � The Americas 22 % Nafta 9 % Mercosur � Asia-Pacific � Rest of world Customer markets Group sales 2008 = EUR 9 490 million Human health 30 % Construction and architecture 14 % Automobile industry 9 % Chemical industry 9 % Glass industry 6 % Electricity and electronics 5 % Water and the environment 4 % 441 264 � 2006 � 2007 � 2008 � 2006 � 2007 � 2008 Group employees in 2008 [Dec. 31, 2008]: 29 433 people 5 667 2 474 1 109 20 183 Sales by Sector in 2008 39 % 26 % 24 % 33 % 28 % REBIT* by Sector in 2008 *Excluding “Corporate & Business Support”: EUR -46 million 8 816 1 991 8 966 50 % Employees by Sector in 2008 9 660 � Europe 18 848 European Union (27) 1 335 Other European countries � The Americas 4 164 Nafta 1 503 Mercosur � Asia-Pacific � Rest of world Paper 4 % Detergents, cleaning and hygiene products 3 % Packaging 3 % Consumer goods 2 % Human and animal food processing 1 % Other industries 9 % � Pharmaceuticals � Chemicals � Plastics � Pharmaceuticals � Chemicals � Plastics � Pharmaceuticals � Chemicals � Plastics � Corporate
February 1 Caprolactones Solvay confi rms sale of its Caprolactones business to Perstorp. February 29 Bifeprunox Solvay Pharmaceuticals acknowledges Wyeth Pharmaceuticals’ decision to terminate the collaboration agreement on bifeprunox. May 14 SOLVAIR ® Select 300 Solvay launches new SOLVAIR ® Select 300 fl ue gas treatment product for air pollution control in USA. May 21 Sustainable technologies Solvay joins Capricorn Cleantech venture capital fund, exploring new business developments in sustainable technologies. September 4 Argentina Solvay Indupa announces alliance with Albanesi group to build new power plant at Bahia Blanca (Argentina) to secure competitive and reliable energy sourcing. December 2 REACH Solvay completes pre-registration of 400 substances under the European REACH regulations. March 3 TRICOR ® Fournier Laboratories Ireland Ltd and Laboratoires Fournier SA fi le actions against Teva in the USA for infringement of patents protecting TRICOR ® . March 6 Polypropylene Solvay fi nalizes sale of polypropylene compounding activity to LyondellBasell. September 11 Vinythai Vinythai increases PVC production capacity in Thailand and strengthens its position as a world-class vinyls producer. September 24 Polytetrafl uoroethylene Solvay inaugurates in China its second world-class production plant for polytetrafl uoroethylene (PTFE) micronized powder. October 15 Sustainable Development In its eighth Sustainable Development report, Solvay sets ambitious, quantifi ed targets to curb the environmental impact of the Group’s businesses and products. March 12 SIMCOR ® FDA (Food and Drug Administration) approval of Abbott’s SIMCOR ® marks start of co-promotion of this new medicine by Solvay. April 25 Innogenetics Solvay Pharmaceuticals SA launches successful friendly bid for Innogenetics nv. June 19 Tavaux site The Tavaux (France) site receives green light from French authorities for biomass thermal power plant to come into operation in 2011. June 26 China Inergy Automotive Systems starts operations in China. September 25 Cooperation Solvay Solexis enters cooperation agreement with Strategic Polymer Sciences to develop ultra-high energy density capacitor materials. October 17 Egypt Solvay acquires Alexandria Sodium Carbonate Company in Egypt, continuing its expansion into growing Egyptian, Middle Eastern and North African markets. November 17 SLV319 Solvay Pharmaceuticals discontinues R&D activities on its SLV319 anti-obesity compound. December 3 Fuel cells Solvay takes stake in fuel cell developer ACAL Energy to invest in innovative low-cost and high-reliability fuel cell technology. December 12 Innogenetics Solvay Pharmaceuticals now owns all of Innogenetics nv, which is delisted. 2008 Highlights May 8 Bernburg site Beginning in 2010, Solvay will use refuse-derived secondary solid fuels in the thermal power plant under construction at its Bernburg (Germany) site. August 13 “Zero emission” Umicore and Solvay support zero-emission car racing team by sponsoring fuel cell-powered racing kart. September 29 Energy Solvay invests EUR 55 million to reduce energy consumption and environmental impact of its electrolytic unit at Tavaux (France). October 6 CEFIC Solvay CEO Christian Jourquin elected President of CEFIC, the European Chemical Industry Council. November 27 Charter Solvay’s management and European Works Council sign charter on Sustainable Development and corporate social responsibility. December 16 TRILIPIX Solvay welcomes FDA approval for TRILIPIX , jointly developed by Solvay and Abbott, the fi rst and only fi brate authorized in combination with a statin to control cholesterol. 1 Solvay Global Annual Report 2008 2008 Highlights
Page 1 and 2: Managing Challenges Solvay Global A
Page 3: Key fi gures - Solvay Group Financi
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 14: and using it without limits, the pi
Page 15 and 16: Chemicals Sales: EUR 3.1 billion -
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
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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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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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