Pharmaceuticals Sector - Solvay

60
Solvay Global Annual Report 2005
Statement of changes in equity
EUR million
Capital Issue
premiums
Reserves Own Currency
shares translation
differences
Direct
allocations
to equity
Capital
and
reserves
Minority
interests
Total
shareholders’
equity
Balance at 31/12/2003 1 269 14 1 864 -119 -422 35 2 641 869 3 510
Net profi t for the period 489 489 52 541
Dividends -198 -198 -30 -228
Currency translation differences -85 -85 -4 -89
Acquisitions/sale of own shares -3 -3 -3
Net gains and losses not
recognized in the income statement
46 46 46
Issue of share capital 0 0
Other -8 -8 23 15
Balance at 31/12/2004 1 269 14 2 147 -122 -507 81 2 882 910 3 792
Net profi t for the period 789 789 27 816
Cost of share options 4 4 4
Dividends -210 -210 -7 -217
Currency translation differences 224 224 19 243
Acquisitions/sale of own shares -9 -9 -9
Net gains and losses not
recognized in the income statement
98 98 98
Issue of share capital 1 4 5 5
Other -9 -9 -803 -812
Balance at 31/12/2005 1 270 18 2 721 -131 -283 179 3 774 146 3 920
The closing balance sheet exchange rate for the US dollar fell from 1.3621 at the end of 2004 to 1.1797 at the end
of 2005. The stronger dollar is the main reason for the reduction in negative currency translation differences in equity
from EUR 507 million to EUR 283 million, with a positive impact of EUR 224 million on the 2005 fi gures.
Gains and losses not recognized in the income statement refl ect the marking to market of derivative fi nancial
instruments and listed securities. The variation in 2005 was EUR 98 million positive as a result of the rising stock
market prices of our investments in Fortis and Sofi na.
Minority interests fell by EUR 764 million following the redemption in 2005 of the EUR 800 million of preferred shares
subscribed by the banks at the time of the Ausimont acquisition at the end of 2001.
Gains and losses not recognized in the income statement consist of EUR 185 million in respect of listed shares
(“securities available for sale”) in IFRS and EUR - 6 million for interest rate swaps.
Information on the dividend proposed to the Annual General Meeting of shareholders can be found on page 110.
The table below shows the number of shares:
number of shares (in thousands) (1)
Shares issued and fully paid in at 1/1/2005 84 623
Capital increase 73
Shares issued and fully paid in at 31/12/2005 84 696
Own shares held by Solvay S.A. at 31/12/2005 1 903
Shares authorized but not yet issued 5
Par value (per share) 15 EUR/share
(1) See also the consolidated data per share on page 110.