Pharmaceuticals Sector - Solvay

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Key fi gures - Solvay Group Financial data 2002 IFRS 2003 2004 [6] 2005 EUR million EUR million USD million [5] Operational situation External sales 7 919 7 557 7 271 8 562 10 101 REBITDA [1] 1 284 1 101 1 146 1 338 1 578 REBIT [2] 844 673 741 912 1 076 REBIT/sales 11% 9% 10% 11% 11% Net income 494 430 541 816 963 Total depreciation and amortization [3] 554 429 449 464 547 Cash fl ow 1 048 859 990 1 280 1 510 Capital expenditure 645 555 564 1 930 2 277 Research expenditure 399 404 408 472 557 Personnel costs [6] 1 833 1 802 1 698 1 920 2 265 Added value [6] Financial situation 3 089 2 826 2 902 3 438 4 056 Shareholders’ equity 3 542 3 510 3 792 3 920 4 624 Net debt 1 318 1 120 795 1 680 1 982 Net debt/shareholders’ equity 37% 32% 21% 43% 43% Return on Equity (ROE) 14% 12% 15% 22% 22% Gross distribution to Solvay shareholders Persons employed 199 199 210 221 261 Persons employed at January 1 [4] 30 302 30 139 26 926 28 730 – [1] REBIT before recurring depreciation and amortization. [2] REBIT = Recurring EBIT. [3] Including non-recurring depreciation and amortization of 114 in 2002, 1 in 2003, 23 in 2004 and 20 in 2005. [4] In full-time equivalents (FTE) at January 1 of the following year. [5] Exchange rate: EUR 1: USD 1.1797 at 31/12/2005. [6] Restated fi gures. Expenditure on the future Total Group capital expenditure, acquisitions and R&D 2005 = EUR 2 402 million [including EUR 1.2 billion for the acquisition of Fournier Pharma] [EUR million]. 2500 2250 2000 1750 1500 1250 1000 750 500 250 0 1 044 399 645 959 972 404 555 408 564 472 1 930 2 402 1 427 555 872 2002 2003 2004 2005 2006 Budget g Capital expenditure & acquisitions g R&D Total capital expenditure & acquisitions by Sector in 2005 [EUR million] 261 27 293 79 1 346 R&D by Sector in 2005 [EUR million] 351 g Pharmaceuticals g Chemicals g Plastics
Activities Group sales 2005 = EUR 8 562 million 3640 3120 2600 2080 1560 1040 520 0 1 832 1 745 2 270 2 785 2 386 2 433 3 507 3 215 3 093 Pharmaceuticals Chemicals Plastics Group REBIT 2005 = EUR 912* million * Including EUR -64 million of unallocated items in 2005. 420 360 300 240 180 120 60 0 243 236 302 182 180 285 225 374 Pharmaceuticals Chemicals Plastics Group employees* at January 1, 2006: 28 730 people * Excluding discontinued operations. ** Including Fournier Pharma employees. A global presence Group sales 2005 = EUR 8 562 million 34 % 7% 3 % 56 % Customer markets Group sales 2005 = EUR 8 562 million g Europe 51% European Union (25) 5% Other European countries g Asia-Pacific g The Americas 26% Nafta 8% Mercosur g Rest of world Human health 28% Automobile industry 13% Chemical industry 12% Construction and architecture 11% Glass industry 7% Electricity and electronics 4% Water and the environment 4% 1 425 6 459 389 41 20 805 g 2003 g 2004 g 2005 g 2003 g 2004 g 2005 Sales by Sector in 2005 41% 40% 26% 33% REBIT by Sector in 2005 1 531 8 474 29% 8 721 31% Employees by Sector in 2005 10 004** Group employees* at January 1, 2006: 28 730 people * Excluding discontinued operations. g Europe 19 480 European Union (25) 1 325 Other European countries g Asia-Pacific g The Americas 5 000 Nafta 1 459 Mercosur g Rest of world Detergents, cleaning and hygiene products 3% Packaging 3% Paper 3% Consumer goods 3% Human and animal food processing 1% Other industries 8% g Pharmaceuticals g Chemicals g Plastics g Pharmaceuticals g Chemicals g Plastics g Pharmaceuticals g Chemicals g Plastics g OC+CCs+BSCs
Page 1 and 2: Driven by the future Growth, Compet
Page 3: Highlights January 2005 Solvay fi n
Page 7 and 8: Our Vision - Independent industrial
Page 9 and 10: here to stay, in our view irreversi
Page 11 and 12: Board of Directors and Corporate Go
Page 13 and 14: 4 Executive Committee and General M
Page 15 and 16: Such a strategy is possible only wi
Page 17 and 18: Specialities Solvay Specialties fro
Page 19 and 20: Key fi gures [EUR million] Pharmace
Page 21 and 22: Cardiometabolic Cardiovascular dise
Page 23 and 24: Cardiometabolics Fenofi brate, TRIC
Page 25 and 26: “ DUODOPA® entered Solvay’s pr
Page 27 and 28: Pharmaceuticals Sector Therapeutic
Page 29 and 30: Key fi gures [EUR million] Chemical
Page 31 and 32: Growth To speed up its growth, the
Page 33 and 34: Initiatives have also been launched
Page 35 and 36: “ The ‘Soil Remediation Reagent
Page 37 and 38: Key fi gures [EUR million] Plastics
Page 39 and 40: Innovation “Twin-Sheet Blow Mould
Page 41 and 42: Plastics 37 Solvay Global Annual Re
Page 43 and 44: which it was able to take advantage
Page 45 and 46: New Business Development Priority t
Page 47 and 48: Meeting The Science Days organized
Page 49 and 50: Human Resources The Group’s fi ve
Page 51 and 52: “ At the end of this seminar, all
Page 53 and 54: Sustainable Development 2005 saw th
Page 55 and 56:
Accident frequency rate Persons wor
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Management Report New records for S
Page 59 and 60:
Expenditure on the future by Sector
Page 61 and 62:
Financial Statements The following
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Consolidated balance sheet EUR mill
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IFRS valuation rules The main accou
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9. Impairment Every year the Group
Page 69 and 70:
Notes to the fi nancial statements
Page 71 and 72:
(2) Financial data by region These
Page 73 and 74:
and the estimated fi nancial conseq
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The deferred taxes recorded in the
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2005 Millions EUR Acquisitions Disp
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Neopharma On January 19, 2005 the S
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(around 300 persons) with a view to
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In 2005 the impairment tests on goo
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Solvay Group purchased 100% of the
Page 87 and 88:
Post-employment benefi t plans are
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Actuarial assumptions used in deter
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Analysis of total fi nancial debt b
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In this way, at the end of 2005, th
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The following amounts relating to J
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PORTUGAL Fournier Farmaceutica Port
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List of fully consolidated Group co
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Solvay Salz Holding GmbH, Hannover
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CANADA Fournier Pharma, Inc., Montr
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GREAT BRITAIN Inergy Automotive Sys
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Summary fi nancial statements of So
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Statutory auditor’s report to the
Page 111 and 112:
The Solvay share compared with the
Page 113 and 114:
Contacts: The Investor Relations Te
Page 115 and 116:
Shareholders’ Diary - May 9, 2006
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Pharmaceuticals Sector - Solvay

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