Financial Statements - Solvay

Consolidated balance sheet
EUR Million Notes 2007 2008
ASSETS
Non-current assets 6 999 7 752
Intangible assets (22) 662 726
Goodwill (23) 1 210 1 667
Tangible assets (24) 3 885 4 218
Available-for-sale investments (25) 318 30
Other investments (26) 148 187
Deferred tax assets (12b) 524 649
Loans and other non-current assets (28) 252 273
Current assets 4 180 4 513
Inventories (27) 1 255 1 255
Trade receivables (28) 1 711 1 666
Income tax receivables 73 92
Other receivables (28) 566 555
Cash and cash equivalents (30) 575 883
Assets held for sale (32) 0 61
Total assets 11 180 12 264
EQUITY & LIABILITIES
Total equity 4 459 4 745
Share capital 1 271 1 271
Reserves 3 032 3 179
Minority interests 156 296
Non-current liabilities 3 963 4 185
Long-term provisions: employee benefi ts (29) 1 119 1 106
Other long-term provisions (29) 966 922
Deferred tax liabilities (12b) 245 258
Long-term fi nancial debt (30) (31) 1 565 1 852
Other non-current liabilities 68 46
Current liabilities 2 758 3 334
Short-term provisions: employee benefi ts (29) 68 43
Other short-term provisions (29) 161 80
Short-term fi nancial debt (30) (31) 317 627
Trade liabilities 1 246 1 337
Income tax payable 86 49
Other current liabilities 880 1 183
Liabilities associated with assets held for sale (32) 0 14
Total equity & liabilities 11 180 12 264
RATIOS
Return on equity (ROE) 18.4 9.5
Net debt to equity ratio 29.3 33.7
ROE = net income of the Group / total equity before allocation of fair value differences directly to equity.
Net debt to equity ratio = net debt / total equity.
Net debt = short and long-term fi nancial debt less cash and cash equivalents.
Explanatory notes are found after the fi nancial statements.
Financial
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Solvay Global Annual Report 2008
Financial