Use of provisions for additional voluntary contributions pension plans)
+X
0
-155
-3,114
-3,269
-3,114
0
0
0
0
0
0
-155
0
0
-3,269
-3,114
ERROR:#VALUE!
Use of provisions for additional voluntary contributions pension plans)
+X
Remeasu- rements (forex)
+X
0
0
-3,269
-3,269
-3,269
0
0
0
0
0
0
0
0
0
-3,269
-3,269
ERROR:#VALUE!
Remeasu- rements (forex)
+X
In/outflow from M&A
+X
0
0
-3,269
-3,269
-3,269
0
0
0
0
0
0
0
0
0
-3,269
-3,269
ERROR:#VALUE!
In/outflow from M&A
+X
Changes in scope & other
+X
0
-322
-3,269
-3,591
-3,269
0
0
0
0
0
0
-322
0
0
-3,591
-3,269
ERROR:#VALUE!
Changes in scope & other
X
December 31, 2022
X
0
-3,591
0
-3,591
0
-1,791
-1,800
0
0
0
0
0
0
0
-3,591
0
ERROR:#VALUE!
December 31, 2022
0
IFRS debt
S
0
-1,791
0
-1,791
0
-1,791
0
0
0
0
0
0
0
0
-1,791
0
ERROR:#VALUE!
ERROR:#VALUE!
0
Hybrid bonds
S
0
-1,800
-1,791
-3,591
-1,791
-1,800
0
0
0
0
0
0
0
0
-3,591
-1,791
ERROR:#VALUE!
ERROR:#VALUE!
Operational deleveraging
+X
0
695
ERROR:#VALUE!
ERROR:#VALUE!
Operational impact
+X
0
0
ERROR:#VALUE!
pivot September 30, 2022 FCF to Solvay share- holders Dividends to Solvay share- holders Use of provisions for additional voluntary contributions pension plans) Remeasu- rements (forex) In/outflow from M & A Changes in scope & other December 31, 2022 0 -2714.6689985252615 -2714.6689985252615 -3113.9289985252617 -3268.9289985252617 -3268.9289985252617 -3268.9289985252617 0 block 1 September 30, 2022 FCF to Solvay share- holders Dividends to Solvay share- holders Use of provisions for additional voluntary contributions pension plans) Remeasu- rements (forex) In/outflow from M & A Changes in scope & other December 31, 2022 -2008.6089985252615 0 0 0 0 0 0 -1791.3877883735854 block 2 September 30, 2022 FCF to Solvay share- holders Dividends to Solvay share- holders Use of provisions for additional voluntary contributions pension plans) Remeasu- rements (forex) In/outflow from M & A Changes in scope & other December 31, 2022 -1800 0 0 0 0 0 0 -1800 block 3 0 0 0 0 0 0 0 0 block +3 0 0 0 0 0 0 0 0 block +2 September 30, 2022 FCF to Solvay share- holders Dividends to Solvay share- holders Use of provisions for additional voluntary contributions pension plans) Remeasu- rements (forex) In/outflow from M & A Changes in scope & other December 31, 2022 0 0 0 0 0 0 0 0 block +1 September 30, 2022 FCF to Solvay share- holders Dividends to Solvay share- holders Use of provisions for additional voluntary contributions pension plans) Remeasu- rements (forex) In/outflow from M & A Changes in scope & other December 31, 2022 0 0 0 0 0 0 0 0 block -3 0 0 0 0 0 0 0 0 block -2 0 0 0 0 0 0 0 0 block -1 0 -1093.94 -399.26 -155 0 0 -322.4587898483237 0 bottom label location September 30, 2022 FCF to Solvay share- holders Dividends to Solvay share- holders Use of provisions for additional voluntary contributions pension plans) Remeasu- rements (forex) In/outflow from M & A Changes in scope & other December 31, 2022 0 -2714.6689985252615 -2714.6689985252615 -3113.9289985252617 -3268.9289985252617 -3268.9289985252617 -3268.9289985252617 0 top label location 0 0 0 0 0 0 0 0 -3808.6089985252615 -3808.6089985252615 -3113.9289985252617 -3268.9289985252617 -3268.9289985252617 -3268.9289985252617 -3591.3877883735854 -3591.3877883735854 #VALUE! #VALUE! #VALUE! #VALUE!
CHART Net Debt YTD-old 2
T
Cash generation
chart
-1
(in € million)
T
X-axis
shown
# decimals
data
start
end
pivot
block 1
block 2
block 3
block +1
block +2
block +3
block -1
block -2
block -3
top label location
bottom label location
top label
bottom label
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
X
December 31, 2021
X
0
-3,949
0
-3,949
0
-2,149
-1,800
0
0
0
0
0
0
0
-3,949
0
ERROR:#VALUE!
December 31, 2021
0
IFRS debt
S
0
-2,149
0
-2,149
0
-2,149
0
0
0
0
0
0
0
0
-2,149
0
ERROR:#VALUE!
ERROR:#VALUE!
0
Hybrid bonds
S
0
-1,800
-2,149
-3,949
-2,149
-1,800
0
0
0
0
0
0
0
0
-3,949
-2,149
ERROR:#VALUE!
ERROR:#VALUE!
+X
Operational deleveraging
+X
0
695
-3,949
-3,255
-3,255
0
0
0
0
0
0
-695
0
0
-3,949
-3,255
ERROR:#VALUE!
ERROR:#VALUE!
0
FCF to Solvay share- holders
+S
0
1,094
-3,949
-2,855
-2,855
0
0
0
0
0
0
-1,094
0
0
-3,949
-2,855
ERROR:#VALUE!
ERROR:#VALUE!
0
Dividends to Solvay share- holders
+S
0
-399
-2,855
-3,255
-2,855
0
0
0
0
0
0
-399
0
0
-3,255
-2,855
ERROR:#VALUE!
ERROR:#VALUE!
+X
Voluntary pension contributions
+X
0
-155
-3,255
-3,410
-3,255
0
0
0
0
0
0
-155
0
0
-3,410
-3,255
ERROR:#VALUE!
Voluntary pension contributions
+X
In/outflow from M&A
+X
0
82
-3,410
-3,328
-3,328
0
0
0
0
0
0
-82
0
0
-3,410
-3,328
ERROR:#VALUE!
In/outflow from M&A
+X
Remeasu- rements (forex), changes in scope & other
+X
0
-264
-3,328
-3,592
-3,328
0
0
0
0
0
0
-264
0
0
-3,592
-3,328
ERROR:#VALUE!
ERROR:#VALUE!
0
Remeasu- rements (forex)
+S
0
-72
-3,328
-3,400
-3,328
0
0
0
0
0
0
-72
0
0
-3,400
-3,328
ERROR:#VALUE!
ERROR:#VALUE!
0
Changes in scope & other
+S
0
-192
-3,400
-3,592
-3,400
0
0
0
0
0
0
-192
0
0
-3,592
-3,400
ERROR:#VALUE!
ERROR:#VALUE!
X
December 31, 2022
X
0
-3,591
0
-3,591
0
-1,791
-1,800
0
0
0
0
0
0
0
-3,591
0
ERROR:#VALUE!
December 31, 2022
0
IFRS debt
S
0
-1,791
0
-1,791
0
-1,791
0
0
0
0
0
0
0
0
-1,791
0
ERROR:#VALUE!
ERROR:#VALUE!
0
Hybrid bonds
S
0
-1,800
-1,791
-3,591
-1,791
-1,800
0
0
0
0
0
0
0
0
-3,591
-1,791
ERROR:#VALUE!
ERROR:#VALUE!
Operational deleveraging
+X
0
695
ERROR:#VALUE!
ERROR:#VALUE!
Operational impact
+X
0
0
ERROR:#VALUE!
pivot December 31, 2021 #VALUE! Voluntary pension contributions In/outflow from M & A #VALUE! December 31, 2022 0 -3254.7019453292351 -3254.7019453292351 -3327.7019453292351 -3327.7019453292351 0 block 1 December 31, 2021 #VALUE! Voluntary pension contributions In/outflow from M & A #VALUE! December 31, 2022 -2149.3819453292354 0 0 0 0 -1791.3877883735854 block 2 December 31, 2021 #VALUE! Voluntary pension contributions In/outflow from M & A #VALUE! December 31, 2022 -1800 0 0 0 0 -1800 block 3 0 0 0 0 0 0 block +3 0 0 0 0 0 0 block +2 December 31, 2021 #VALUE! Voluntary pension contributions In/outflow from M & A #VALUE! December 31, 2022 0 0 0 0 0 0 block +1 December 31, 2021 #VALUE! Voluntary pension contributions In/outflow from M & A #VALUE! December 31, 2022 0 0 0 0 0 0 block -3 0 0 0 0 0 0 block -2 0 0 0 0 0 0 block -1 0 -694.68000000000006 -155 -82 -264 0 bottom label location December 31, 2021 #VALUE! Voluntary pension contributions In/outflow from M & A #VALUE! December 31, 2022 0 -3254.7019453292351 -3254.7019453292351 -3327.7019453292351 -3327.7019453292351 0 top label location 0 0 0 0 0 0 -3949.3819453292354 -3949.3819453292354 -3409.7019453292351 -3409.7019453292351 -3591.7019453292351 -3591.3877883735854 #VALUE! #VALUE! #VALUE! #VALUE!
CHART Net Debt YTD - 2020
T
Cash generation
chart
-1
(in € million)
T
X-axis
shown
# decimals
data
start
end
pivot
block 1
block 2
block 3
block +1
block +2
block +3
block -1
block -2
block -3
top label location
bottom label location
top label
bottom label
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
X
December 31, 2021
X
0
-3,949
0
-3,949
0
-2,149
-1,800
0
0
0
0
0
0
0
-3,949
0
ERROR:#VALUE!
December 31, 2021
0
IFRS debt
S
0
-2,149
0
-2,149
0
-2,149
0
0
0
0
0
0
0
0
-2,149
0
ERROR:#VALUE!
ERROR:#VALUE!
0
Hybrid bonds
S
0
-1,800
-2,149
-3,949
-2,149
-1,800
0
0
0
0
0
0
0
0
-3,949
-2,149
ERROR:#VALUE!
ERROR:#VALUE!
0
Operational deleveraging
0
0
695
-3,949
-3,949
-3,949
0
0
0
0
0
0
0
0
0
-3,949
-3,949
ERROR:#VALUE!
+X
FCF to Solvay share- holders
+X
0
1,094
-3,949
-2,855
-2,855
0
0
0
0
0
0
-1,094
0
0
-3,949
-2,855
ERROR:#VALUE!
FCF to Solvay share- holders
+X
Dividends to Solvay share- holders
+X
0
-399
-2,855
-3,255
-2,855
0
0
0
0
0
0
-399
0
0
-3,255
-2,855
ERROR:#VALUE!
Dividends to Solvay share- holders
+X
Voluntary pension contributions
+X
0
-155
-3,255
-3,410
-3,255
0
0
0
0
0
0
-155
0
0
-3,410
-3,255
ERROR:#VALUE!
Voluntary pension contributions
+X
In/outflow from M&A
+X
0
82
-3,410
-3,328
-3,328
0
0
0
0
0
0
-82
0
0
-3,410
-3,328
ERROR:#VALUE!
In/outflow from M&A
+X
Remeasu- rements (forex), changes in scope & other
+X
0
-264
-3,328
-3,592
-3,328
0
0
0
0
0
0
-264
0
0
-3,592
-3,328
ERROR:#VALUE!
ERROR:#VALUE!
0
Remeasu- rements (forex)
+S
0
-72
-3,328
-3,400
-3,328
0
0
0
0
0
0
-72
0
0
-3,400
-3,328
ERROR:#VALUE!
ERROR:#VALUE!
0
Changes in scope & other
+S
0
-192
-3,400
-3,592
-3,400
0
0
0
0
0
0
-192
0
0
-3,592
-3,400
ERROR:#VALUE!
ERROR:#VALUE!
X
December 31, 2022
X
0
-3,591
0
-3,591
0
-1,791
-1,800
0
0
0
0
0
0
0
-3,591
0
ERROR:#VALUE!
December 31, 2022
0
IFRS debt
S
0
-1,791
0
-1,791
0
-1,791
0
0
0
0
0
0
0
0
-1,791
0
ERROR:#VALUE!
ERROR:#VALUE!
0
Hybrid bonds
S
0
-1,800
-1,791
-3,591
-1,791
-1,800
0
0
0
0
0
0
0
0
-3,591
-1,791
ERROR:#VALUE!
ERROR:#VALUE!
Operational deleveraging
+X
0
695
ERROR:#VALUE!
ERROR:#VALUE!
Operational impact
+X
0
0
ERROR:#VALUE!
pivot December 31, 2021 FCF to Solvay share- holders Dividends to Solvay share- holders Voluntary pension contributions In/outflow from M & A #VALUE! December 31, 2022 0 -2855.4419453292353 -2855.4419453292353 -3254.7019453292351 -3327.7019453292351 -3327.7019453292351 0 block 1 December 31, 2021 FCF to Solvay share- holders Dividends to Solvay share- holders Voluntary pension contributions In/outflow from M & A #VALUE! December 31, 2022 -2149.3819453292354 0 0 0 0 0 -1791.3877883735854 block 2 December 31, 2021 FCF to Solvay share- holders Dividends to Solvay share- holders Voluntary pension contributions In/outflow from M & A #VALUE! December 31, 2022 -1800 0 0 0 0 0 -1800 block 3 0 0 0 0 0 0 0 block +3 0 0 0 0 0 0 0 block +2 December 31, 2021 FCF to Solvay share- holders Dividends to Solvay share- holders Voluntary pension contributions In/outflow from M & A #VALUE! December 31, 2022 0 0 0 0 0 0 0 block +1 December 31, 2021 FCF to Solvay share- holders Dividends to Solvay share- holders Voluntary pension contributions In/outflow from M & A #VALUE! December 31, 2022 0 0 0 0 0 0 0 block -3 0 0 0 0 0 0 0 block -2 0 0 0 0 0 0 0 block -1 0 -1093.94 -399.26 -155 -82 -264 0 bot tom label location December 31, 2021 FCF to Solvay share- holders Dividends to Solvay share- holders Voluntary pension contributions In/outflow from M & A #VALUE! December 31, 2022 0 -2855.4419453292353 -2855.4419453292353 -3254.7019453292351 -3327.7019453292351 -3327 .7019453292351 0 top label location 0 0 0 0 0 0 0 -3949.3819453292354 -3949.3819453292354 -3254.7019453292351 -3409.7019453292351 -3409.7019453292351 -3591.7019453292351 -3591.3877883735854 #VALUE! #VALUE! #VALUE! #VALUE!
Short
Underlying key figures
(in € million)
Q4 2022
Q4 2021
% yoy
FY 2022
FY 2021
% yoy
Net sales
3,286
2,703
+21.6%
13,426
10,105
+32.9%
EBITDA
736
572
+28.6%
3,229
2,356
+37.0%
EBITDA margin
22.4%
21.2%
+1.2pp
24.0%
23.3%
+0.7pp
EBIT
517
374
+38.4%
2,426
1,600
+51.6%
Net financial charges
-39
-54
+27.3%
-202
-235
+13.7%
Income tax expenses
-76
-59
-27.9%
-453
-287
-57.9%
Tax rate
21.8%
23.5%
-1.7pp
Profit (loss) from discontinued operations
-3
1
n.m.
2
2
-25.7%
(Profit) / loss attributable to non-controlling interests
-4
-11
-67.7%
-29
-41
-29.1%
Profit / (loss) attributable to Solvay shareholders
396
250
+58.2%
1,743
1,040
+67.6%
Basic earnings per share (in €)
3.81
2.41
+58.0%
16.80
10.05
+67.3%
of which from continuing operations
3.85
2.41
+59.7%
16.79
10.02
+67.5%
Capex in continuing operations
458
324
+41.4%
1,022
736
+38.8%
FCF to Solvay shareholders from continuing operations
170
150
+13.3%
1,094
843
+29.8%
FCF to Solvay shareholders
170
149
+14.4%
1,094
830
+31.8%
FCF conversion ratio (LTM)
34.4%
37.6%
-3.2pp
Net financial debt
3,591
3,949
-
3,591
3,949
-9.1%
Underlying leverage ratio
1.1
1.7
-33.7pp
1.1
1.7
-33.7%
CFROI
8.1%
6.9%
+1.2pp
ROCE
16.0%
11.4%
+4.7pp
Research & innovation
349
298
+17.3%
Research & innovation intensity
2.6%
2.9%
-0.3pp
Key
FY key figures
IFRS
Underlying
(in € million)
FY 2022
FY 2021
% yoy
FY 2022
FY 2021
% yoy
Net sales
13,426
10,105
+32.9%
13,426
10,105
+32.9%
EBITDA
3,144
2,038
+54.2%
3,229
2,356
+37.0%
EBITDA margin
24.0%
23.3%
+0.7pp
EBIT
2,221
1,190
+86.6%
2,426
1,600
+51.6%
Net financial charges
-70
-96
+26.7%
-202
-235
+13.7%
Income tax expenses
-217
-110
n.m.
-453
-287
-57.9%
Tax rate
21.8%
23.5%
-1.7pp
Profit (loss) from discontinued operations
-
5
n.m.
2
2
-25.7%
(Profit) / loss attributable to non-controlling interests
-29
-41
-30.6%
-29
-41
-29.1%
Profit / (loss) attributable to Solvay shareholders
1,905
948
n.m.
1,743
1,040
+67.6%
Basic earnings per share (in €)
18.37
9.15
n.m.
16.80
10.05
+67.3%
of which from continuing operations
18.36
9.11
n.m.
16.79
10.02
+67.5%
Dividend [1]
4.05
3.85
+5.2%
4.05
3.85
+5.2%
Capex in continuing operations
1,022
736
+38.9%
FCF to Solvay shareholders from continuing operations
1,094
843
+29.8%
FCF to Solvay shareholders
1,094
830
+31.8%
FCF conversion ratio (LTM)
34.4%
37.6%
-3.2pp
Net financial debt
3,591
3,949
-9.1%
Underlying leverage ratio
1.1
1.7
-33.7%
CFROI
8.1%
6.9%
+1.2pp
ROCE
16.0%
11.4%
+4.7pp
Research & innovation
349
298
+17.3%
Research & innovation intensity
2.6%
2.9%
-0.3pp
Q4 key figures
IFRS
Underlying
(in € million)
Q4 2022
Q4 2021
% yoy
Q4 2022
Q4 2021
% yoy
Net sales
3,286
2,703
+21.6%
3,286
2,703
+21.6%
EBITDA
566
562
+0.8%
736
572
+28.6%
EBITDA margin
22.4%
21.2%
+1.2pp
EBIT
342
388
-11.9%
517
374
+38.4%
EBIT margin
15.7%
13.8%
+1.9pp
Net financial charges
-7
-10
+30.5%
-39
-54
+27.3%
Income tax expenses
81
-1
n.m.
-76
-59
-27.9%
Tax rate
Profit (loss) from discontinued operations
-
-
n.m.
-3
1
n.m.
Profit / (loss) attributable to Solvay shareholders
412
366
+12.7%
396
250
+58.2%
Basic earnings per share (in €)
3.97
3.53
+12.5%
3.81
2.41
+58.0%
of which from continuing operations
3.98
3.53
+12.6%
3.85
2.41
+59.7%
Dividend [1]
3.98
3.53
+12.6%
3.85
2.41
+59.7%
Capex in continuing operations
458
324
+41.4%
FCF to Solvay shareholders from continuing operations
170
150
+13.3%
FCF to Solvay shareholders
170
149
+14.4%
FCF conversion ratio (LTM)
Net financial debt
3,591
3,949
-9.1%
Underlying leverage ratio
1.1
1.7
-33.7pp
Segment bridge
Net sales FY
Underlying
(in € million)
FY 2021
Scope
Forex conversion
Volume & mix
Price
FY 2022
Solvay
10,105
-70
651
137
2,604
13,426
Materials
2,903
-1
171
278
724
4,075
Chemicals
3,357
-22
220
-93
1,035
4,496
Solutions
3,838
-47
260
-51
845
4,846
FP
-
-
-
-
-
-
CBS
7
-
-1
3
-
9
Net sales Q4
Underlying
(in € million)
Q4 2021
Scope
Forex conversion
Volume & mix
Price
Q4 2022
Solvay
2,703
-2
153
-169
602
3,286
Materials
751
3
34
25
221
1,034
Chemicals
891
-4
58
-66
224
1,103
Solutions
1,058
-1
60
-129
158
1,146
CBS
2
-
-
-
-
3
Segment
Segment review
Underlying
(in € million)
Q4 2022
Q4 2021
% yoy
% organic
FY 2022
FY 2021
% yoy
% organic
Net sales
3,286
2,703
+21.6%
+15.2%
13,426
10,105
+32.9%
+25.6%
Materials
1,034
751
+37.7%
+31.2%
4,075
2,903
+40.4%
+32.6%
Specialty Polymers
787
555
+41.7%
-
3,121
2,173
+43.6%
-
Composite Materials
247
195
+26.2%
-
954
730
+30.7%
-
Chemicals
1,103
891
+23.8%
+16.7%
4,496
3,357
+33.9%
+26.5%
Soda Ash & Derivatives
572
385
+48.8%
-
2,221
1,509
+47.2%
-
Peroxides
198
175
+13.0%
-
773
636
+21.6%
-
Coatis
186
207
-10.3%
-
870
745
+16.8%
-
Silica
147
124
+18.4%
-
631
467
+35.4%
-
Solutions
1,146
1,058
+8.3%
+2.6%
4,846
3,838
+26.3%
+19.6%
Novecare
436
433
+0.7%
-
1,905
1,546
+23.2%
-
Special Chem
255
210
+21.1%
-
1,040
840
+23.8%
-
Technology Solutions
190
143
+32.6%
-
740
560
+32.2%
-
Aroma Performance
121
135
-10.4%
-
575
473
+21.4%
-
Oil & Gas
145
137
+5.7%
-
586
418
+40.3%
-
Corporate & Business Services
3
2
+9.3%
+6.2%
9
7
+31.4%
+41.4%
EBITDA
736
572
+28.6%
+18.7%
3,229
2,356
+37.0%
+28.7%
Materials
306
207
+48.1%
+36.1%
1,290
879
+46.8%
+36.9%
Chemicals
282
286
-1.5%
-9.9%
1,188
1,009
+17.7%
+10.1%
Solutions
174
180
-3.1%
-11.2%
944
701
+34.7%
+25.0%
Corporate & Business Services
-27
-101
+73.4%
-
-194
-232
+16.6%
-
EBITDA margin
22.4%
21.2%
+1.2pp
-
24.0%
23.3%
+0.7pp
-
Materials
29.6%
27.5%
+2.1pp
-
31.7%
30.3%
+1.4pp
-
Chemicals
25.5%
32.1%
-6.6pp
-
26.4%
30.1%
-3.6pp
-
Solutions
15.2%
17.0%
-1.8pp
-
19.5%
18.3%
+1.2pp
-
Capex in continuing operations
458
324
+41.3%
-
1,022
736
+38.8%
-
Materials
400
251
+59.4%
Chemicals
284
212
+34.0%
Solutions
242
172
+40.7%
Corporate & Business Services
96
101
-5.1%
Cash conversion
37.8%
43.4%
-5.6pp
-
68.3%
68.8%
-0.4pp
-
Materials
69.0%
71.4%
-2.4pp
Chemicals
76.1%
79.0%
-2.9pp
Solutions
74.4%
75.5%
-1.1pp
CFROI
8.1%
6.9%
+1.2pp
Materials
11.6%
9.0%
+2.6pp
Chemicals
9.4%
10.5%
-1.0pp
Solutions
8.7%
7.2%
+1.5pp
Research & innovation
349
298
+17.3%
Materials
186
138
+35.3%
Chemicals
29
28
+3.8%
Solutions
115
103
+12.3%
Corporate & Business Services
19
30
-36.0%
Research & innovation intensity
2.6%
2.9%
-0.3pp
Materials
4.6%
4.7%
-0.2pp
Chemicals
0.6%
0.8%
-0.2pp
Solutions
2.4%
2.7%
-0.3pp
Tax
Underlying tax rate
(in € million)
FY 2022
FY 2021
Profit / (loss) for the period before taxes
a
2,224
1,366
Earnings from associates & joint ventures
b
161
159
Interests and realized foreign exchange gains (losses) on the RusVinyl joint venture
c
-15
-16
Income taxes
d
-453
-287
Underlying tax rate
e = -d/(a-b-c)
21.8%
23.5%
R&I
Research & innovation
(in € million)
FY 2022
FY 2021
IFRS research & development costs
a
-357
-325
Grants netted in research & development costs
b
33
26
Depreciation, amortization & impairments included in research & development costs
c
-98
-100
Capex in research & innovation
d
-57
-46
Research & innovation
e = a-b-c+d
-349
-298
Materials
-186
-138
Chemicals
-29
-28
Solutions
-115
-103
Corporate & Business Services
-19
-30
Net sales
f
13,426
10,105
Materials
4,075
2,903
Chemicals
4,496
3,357
Solutions
4,846
3,838
Corporate & Business Services
9
7
Research & innovation intensity
g = -e/f
2.6%
2.9%
Materials
4.6%
4.7%
Chemicals
0.6%
0.8%
Solutions
2.4%
2.7%
Capex
Capital expenditure (capex)
(in € million)
Q4 2022
Q4 2021
FY 2022
FY 2021
Acquisition (-) of tangible assets
a
-400
-274
-815
-561
Acquisition (-) of intangible assets
b
-27
-22
-94
-75
Payment of lease liabilities
c
-30
-28
-113
-99
Capex
d = a+b+c
-458
-324
-1,022
-736
Capex in discontinued operations
e
-
-
-
-
Capex in continuing operations
-458
-324
-1,022
-736
Materials
-400
-251
Chemicals
-284
-212
Solutions
-242
-172
Corporate & Business Services
-96
-101
Underlying EBITDA
e
736
572
3,229
2,356
Materials
306
207
1,290
879
Chemicals
282
286
1,188
1,009
Solutions
174
180
944
701
Corporate & Business Services
-27
-101
-194
-232
Cash conversion
f = (d+e)/e
37.8%
43.4%
68.3%
68.8%
Materials
69.0%
71.4%
Chemicals
76.1%
79.0%
Solutions
74.4%
75.5%
FCF
Free cash flow (FCF)
(in € million)
Q4 2022
Q4 2021
FY 2022
FY 2021
Cash flow from operating activities
a
645
412
2,006
1,499
of which voluntary pension contributions
b
-
-134
-155
-236
of which cash flow related to internal portfolio management and excluded from Free Cash Flow
c
-32
-5
-67
-7
Cash flow from investing activities
d
-406
-214
-831
-470
Acquisition (-) of subsidiaries
e
-
-
-
-22
Acquisition (-) of investments - Other
f
-8
-14
-14
-22
Loans to associates and non-consolidated companies
g
-18
1
-23
4
Sale (+) of subsidiaries and investments
h
43
56
94
169
Recognition of factored receivables
i
-26
-
-26
-
Payment of lease liabilities
j
-30
-28
-113
-99
FCF
k = a-b-c+d-e-f-g-h-i+j
249
266
1,255
1,043
FCF from discontinued operations
l
-
-1
-
-12
FCF from continuing operations
m = k-l
249
267
1,255
1,056
Net interests paid
n
-51
-53
-62
-95
Coupons paid on perpetual hybrid bonds
o
-27
-27
-82
-75
Dividends paid to non-controlling interests
p
-
-37
-17
-43
FCF to Solvay shareholders
q = k+n+o+p
170
149
1,094
830
FCF to Solvay shareholders from discontinued operations
q
-
-1
-
-12
FCF to Solvay shareholders from continuing operations
r = q-q
170
150
1,094
843
FCF to Solvay shareholders from continuing operations (LTM)
s
1,094
843
1,094
843
Dividends paid to non-controlling interests from continuing operations (LTM)
t
-17
-43
-17
-43
Underlying EBITDA (LTM)
u
3,229
2,356
3,229
2,356
FCF conversion ratio (LTM)
v = (s-t)/u
34.4%
37.6%
34.4%
37.6%
NWC
Net working capital
2022
2021
(in € million)
December 31
December 31
Inventories
a
2,109
1,745
Trade receivables
b
2,026
1,805
Other current receivables
c
1,629
2,004
Trade payables
d
-2,296
-2,131
Other current liabilities
e
-1,499
-2,051
Net working capital
f = a+b+c+d+e
1,969
1,372
Sales
g
3,907
3,277
Annualized quarterly total sales
h = 4*g
15,626
13,108
Net working capital / sales
i = f / h
12.6%
10.5%
Year-to-date average
j = µ(Q1,Q2,Q3,Q4)
12.5%
12.7%
Net debt
Net financial debt
2022
2021
(in € million)
December 31
December 31
Non-current financial debt
a
-2,450
-2,576
Current financial debt
b
-510
-773
IFRS gross debt
c = a+b
-2,959
-3,349
Underlying gross debt
d = c+h
-4,759
-5,149
Other financial instruments (current + non-current)
e
236
259
Cash & cash equivalents
f
932
941
Total cash and cash equivalents
g = e+f
1,168
1,199
IFRS net debt
i = c+g
-1,791
-2,149
Perpetual hybrid bonds
h
-1,800
-1,800
Underlying net debt
j = i+h
-3,591
-3,949
Underlying EBITDA (LTM)
k
3,229
2,356
Adjustment for discontinued operations
l
-
-
Adjusted underlying EBITDA for leverage calculation
m = k+l
3,229
2,356
Underlying leverage ratio
l = -j/k
1.1
1.7
IS
Consolidated income statement
IFRS
(in € million)
Q4 2022
Q4 2021
FY 2022
FY 2021
Sales
3,907
3,277
16,071
11,434
of which revenues from non-core activities
621
574
2,645
1,330
of which net sales
3,286
2,703
13,426
10,105
Cost of goods sold
-2,951
-2,582
-12,042
-8,508
Gross margin
956
695
4,029
2,926
Commercial costs
-66
-77
-317
-287
Administrative costs
-298
-267
-1,088
-946
Research & development costs
-95
-88
-357
-325
Other operating gains & losses
-72
23
171
-80
Earnings from associates & joint ventures
29
49
171
158
Result from portfolio management & major restructuring
-43
102
-105
-133
Result from legacy remediation & major litigations
-70
-48
-284
-123
EBIT
342
388
2,221
1,190
Cost of borrowings
-30
-28
-118
-107
Interest on loans & short term deposits
7
2
17
9
Other gains & losses on net indebtedness
-1
-3
3
-4
Cost of discounting provisions
19
17
40
1
Result from equity instruments measured at fair value
-3
2
-13
6
Profit / (loss) for the period before taxes
335
378
2,151
1,094
Income taxes
81
-1
-217
-110
Profit / (loss) for the period from continuing operations
416
377
1,934
985
attributable to Solvay share
413
366
1,905
943
attributable to non-controlling interests
3
11
29
41
Profit / (loss) for the period from discontinued operations
-
-
-
5
Profit / (loss) for the period
416
377
1,934
989
attributable to Solvay share
412
366
1,905
948
attributable to non-controlling interests
3
11
29
41
Weighted average of number of outstanding shares, basic
103,758,289
103,634,388
103,744,461
103,527,423
Weighted average of number of outstanding shares, diluted
104,932,706
103,850,300
104,143,206
103,787,842
Basic earnings per share (in €)
3.97
3.53
18.37
9.15
of which from continuing operations
3.98
3.53
18.36
9.11
Diluted earnings per share (in €)
3.93
3.52
18.30
9.13
of which from continuing operations
3.93
3.52
18.29
9.09
SoCI
Consolidated statement of comprehensive income
IFRS
(in € million)
Q4 2022
Q4 2021
FY 2022
FY 2021
Profit / (loss) for the period
416
377
1,934
989
Gains and losses on hedging instruments in a cash flow hedge
-67
-89
80
-16
Currency translation differences from subsidiaries & joint operations
-575
147
284
486
Share of other comprehensive income of associates and joint ventures
-178
4
21
30
Recyclable components
-820
61
385
500
Gains and losses on equity instruments measured at fair value through other comprehensive income
1
6
-25
33
Remeasurement of the net defined benefit liability [9]
-142
109
155
562
Share of other comprehensive income of associates and joint ventures
-
-
-
-
Non-recyclable components
-141
116
130
594
Income tax relating to recyclable and non-recyclable components
55
21
-67
-78
Other comprehensive income/(loss), net of related tax effects
-906
198
447
1,017
Total comprehensive income/(loss)
-491
575
2,381
2,006
attributable to Solvay share
-492
561
2,351
1,956
attributable to non-controlling interests
1
14
30
50
BS
Consolidated statement of financial position
2022
2021
(in € million)
December 31
December 31
Intangible assets
2,048
2,103
Goodwill
3,472
3,379
Property, plant and equipment
5,311
4,943
Right-of-use assets
474
466
Equity instruments measured at fair value
71
114
Investments in associates & joint ventures
809
637
Other investments
37
42
Deferred tax assets
932
779
Loans & other assets [1]
466
724
Other financial instruments
30
30
Non-current assets
13,651
13,216
Inventories
2,109
1,745
Trade receivables
2,026
1,805
Income tax receivables
108
109
Dividends receivables
-
-
Other financial instruments
206
229
Other receivables [1]
1,629
2,004
Cash & cash equivalents
932
941
Assets held for sale
-
-
Current assets
7,010
6,833
Total assets
20,661
20,049
Share capital
1,588
1,588
Share premiums
1,170
1,170
Other reserves
7,846
5,982
Non-controlling interests
61
112
Total equity
10,664
8,851
Provisions for employee benefits
1,057
1,574
Other provisions
743
724
Deferred tax liabilities
558
462
Financial debt
2,450
2,576
Other liabilities
303
331
Non-current liabilities
5,111
5,666
Other provisions
297
302
Financial debt
510
773
Trade payables
2,296
2,131
Income tax payables
119
115
Dividends payables
165
160
Other liabilities
1,499
2,051
Liabilities associated with assets held for sale
-
-
Current liabilities
4,885
5,531
Total equity & liabilities
20,661
20,049
SoCiE
Consolidated statement of changes in equity
Revaluation reserve (fair value)
(in € million)
Share capital
Share premiums
Treasury shares
Perpetual hybrid bonds
Retained earnings
Currency translation differences
Equity instruments measured at fair value
Cash flow hedges
Defined benefit pension plans
Total other reserves
Non-controlling interests
Total equity
Balance on December 31, 2020
1,588
1,170
-286
1,786
4,985
-1,153
12
14
-919
4,439
106
7,304
Profit / (loss) for the period
-
-
-
-
948
-
-
-
-
948
41
989
Items of other comprehensive income
-
-
-
-
-
508
25
-11
486
1,008
9
1,017
Comprehensive income
-
-
-
-
948
508
25
-11
486
1,956
50
2,006
Cost of share-based payment plans
-
-
-
-
8
-
-
-
-
8
-
8
Dividends
-
-
-
-
-389
-
-
-
-
-389
-43
-432
Coupons of perpetual hybrid bonds
-
-
-
-
-75
-
-
-
-
-75
-
-75
Sale (acquisition) of treasury shares
-
-
54
-
-12
-
-
-
-
42
-
42
Other
-
-
-
-
3
-
-14
-
12
1
-2
-1
Balance on December 31, 2021
1,588
1,170
-232
1,786
5,467
-645
23
3
-421
5,982
112
8,851
Balance on December 31, 2021
1,588
1,170
-232
1,786
5,467
-645
23
3
-421
5,982
112
8,851
Profit / (loss) for the period
-
-
-
-
1,905
-
-
-
-
1,905
29
1,934
Items of other comprehensive income
-
-
-
-
-
304
-19
73
88
446
2
447
Comprehensive income
-
-
-
-
1,905
304
-19
73
88
2,351
30
2,381
Cost of share-based payment plans
-
-
-
-
14
-
-
-
-
14
-
14
Dividends
-
-
-
-
-403
-
-
-
-
-403
-18
-421
Coupons of perpetual hybrid bonds
-
-
-
-
-82
-
-
-
-
-82
-
-82
Sale (acquisition) of treasury shares
-
-
7
-
-
-
-
-
-
7
-
7
Other
-
-
-
-
-48
23
-
-
1
-24
-63
-87
Balance on December 31, 2022
1,588
1,170
-225
1,786
6,854
-318
4
76
-332
7,846
61
10,664
CFS
Consolidated statement of cash flows
IFRS
(in € million)
Q4 2022
Q4 2021
FY 2022
FY 2021
Profit / (loss) for the period
416
377
1,934
989
Adjustments to profit / (loss) for the period
237
172
1,417
1,245
Depreciation, amortization & impairments
224
174
923
849
Earnings from associates & joint ventures
-29
-49
-171
-158
Additions & reversals of provisions
94
100
336
464
Other non-operating and non-cash items
18
-64
42
-113
Net financial charges
11
10
69
94
Income tax expenses
-81
1
217
110
Changes in working capital
211
106
-576
-92
Uses of provisions
-98
-87
-328
-303
Use of provisions for additional voluntary contributions (pension plans)
-
-134
-155
-236
Dividends received from associates & joint ventures
5
53
19
129
Income taxes paid (excluding income taxes paid on sale of investments)
-126
-76
-305
-233
Cash flow from operating activities
645
412
2,006
1,499
of which cash flow related to internal portfolio management and excluded from Free Cash Flow
-32
-5
-67
-7
Acquisition (-) of subsidiaries
-
-
-
-22
Acquisition (-) of investments - Other
-8
-14
-14
-22
Loans to associates and non-consolidated companies
-18
1
-23
4
Sale (+) of subsidiaries and investments
43
56
94
169
Acquisition (-) of tangible and intangible assets (capex)
-427
-296
-909
-637
of which property, plant and equipment
-400
-274
-815
-561
of which intangible assets
-27
-22
-94
-75
Sale (+) of property, plant and equipment & intangible assets
4
14
21
30
Dividends from equity instruments measured at fair value through other comprehensive income
-
1
2
5
Changes in non-current financial assets
-
24
-
2
Cash flow from investing activities
-406
-214
-831
-470
Acquisition (-) / sale (+) of treasury shares
1
1
7
42
Increase in borrowings
89
42
248
248
Repayment of borrowings [1]
-306
-422
-796
-614
Changes in other financial assets [2]
199
-39
27
-130
Payment of lease liabilities
-30
-28
-113
-99
Net interests paid
-51
-53
-62
-95
Coupons paid on perpetual hybrid bonds
-27
-27
-82
-75
Dividends paid
-
-37
-417
-431
of which to Solvay shareholders
-
-
-399
-388
of which to non-controlling interests
-
-37
-17
-43
Acquisitions of non-controlling interests [3]
-8
-
-117
-
Other [4]
-94
-105
112
50
Cash flow from financing activities
-228
-668
-1,191
-1,104
Net change in cash and cash equivalents
10
-469
-15
-76
Currency translation differences
-22
469
7
7
Opening cash balance
944
941
941
1,009
Closing cash balance
932
941
932
941
CFS discont ops
Statement of cash flow from discontinued operations
IFRS
(in € million)
Q4 2022
Q4 2021
FY 2022
FY 2021
Cash flow from operating activities
-
-1
-
-12
Cash flow from investing activities
-
-
-
-
Cash flow from financing activities
-
-
-
-
Net change in cash and cash equivalents
-
-1
-
-12
Reconciliation
Reconciliation of segment, underlying and IFRS data
Underlying profit from continuing operations (basic)
Profit sous-jacent des activités poursuivies (base)
Onderliggende winst uit voortgezette bedrijfsactiviteiten (basis)
6.98
5.95
5.07
6.02
7.59
0
Underlying profit for the period (diluted)
Profit de la période sous-jacent (dilué)
Onderliggende winst van de periode (verwaterd)
-
-
7.41
8.07
8.07
7.35
7.35
7.35
8.17
9.02
0
Underlying profit from continuing operations (diluted)
Profit sous-jacent des activités poursuivies (dilué)
Onderliggende winst uit voortgezette bedrijfsactiviteiten (verwaterd)
-
-
-
-
6.93
5.91
5.04
6.01
7.53
A4
IFRS profit for the period (basic)
Profit de la période IFRS (base)
IFRS winst van de periode (basis)
i = .../e [2]
7.10
7.10
3.25
3.25
0.96
4.85
4.85
3.86
3.86
3.86
6.01
10.27
0
IFRS profit from continuing operations (basic)
Profit IFRS des actiivités contiunées (base)
IFRS winst uit voortgezette bedrijfsactiviteiten (basis)
7.06
-
3.22
-
0.95
5.57
4.42
4.45
3.52
-
5.34
7.97
A4
IFRS profit for the period (diluted)
Profit de la période IFRS (dilué)
IFRS winst van de periode (verwaterd)
j = .../f [2]
7.06
7.06
3.22
3.22
0.96
4.81
4.81
3.83
3.83
3.83
5.99
10.19
0
IFRS profit from continuing operations (diluted)
Profit IFRS des activités poursuivies (dilué)
IFRS winst uit voortgezette bedrijfsactiviteiten (verwaterd)
-
-
-
-
3.29
5.53
4.39
4.42
3.50
-
5.33
7.92
A4
Gross dividend [3]
Dividende brute [3]
Brutodividend [3]
k
3.07
3.07
3.20
3.20
3.40
3.30
3.60
A4
Net dividend [3]
Dividende nette [3]
Nettodividend [3]
l = k*(1-…%) [4]
2.40
2.40
2.55
2.41
2.52
0
Adjusted gross dividend
DIvidende brute ajusté
Aangepast brutodividend
3.01
3.01
3.20
3.30
3.60
0
Adjusted net dividend
Dividende nette ajusté
Aangepast nettodividend
2.26
2.26
2.40
2.41
2.52
0
Payout ratio
Ratio de distribution
Uitkeringsgraad
45.1%
98.5%
352.7%
68.1%
35.1%
0
Underlying payout ratio
Ratio de distribution sous-jacent
Onderliggende uitkeringsgraad
45.5%
40.6%
39.6%
A4
Share price data (in €)
Chiffres du cours de l'action (en €)
Cijfers van de aandelenkoers (in €)
A4
Highest [5]
Le plus haut [5]
Hoogste [5]
m
109.80
121.05
129.15
141.10
132.00
A4
Lowest [5]
Le plus bas [5]
Laagste [5]
n
62.11
97.20
100.15
88.01
106.30
A4
Average [5]
Moyenne [5]
Gemiddelde [5]
o = v/u
87.33
109.42
114.35
105.74
118.69
A4
At the end of the year
A la fin de l'exercice
Op het einde van het jaar
p
109.35
115.00
112.40
98.43
115.90
0
Adjusted share price, high
Cours de l'action ajusté, haut [3]
Aangepaste koers van het aandeel, hoog [3]
103.19
113.77
121.38
132.61
132.00
0
Adjusted share price, low
Cours de l'action ajusté, bas [3]
Aangepaste koers van het aandeel, laag [3]
58.37
91.35
94.13
82.72
106.30
0
Adjusted share price, average
Cours de l'action ajusté, moyenne [3]
Aangepaste koers van het aandeel, gemiddelde [3]
82.08
102.84
107.47
99.38
118.69
0
Adjusted share price, year end
Cours de l'action ajusté, fin de l'année
Aangepaste koers van het aandeel, einde jaar
102.77
108.08
105.64
92.51
115.90
A4
Underlying price/earnings
Ratio cours/résultat sous-jacent
Onderliggende koers/winst verhouding
q = p/h
12.8
A4
IFRS price/earnings
Ratio cours/résultat IFRS
IFRS koers/winst verhouding
r = p/i
15.4
35.4
116.6
20.3
11.3
A4
Gross dividend yield
Rendement sur dividende brute
Bruto dividendrendement
s = k/p
2.9%
2.8%
3.0%
3.4%
3.1%
A4
Net dividend yield
Rendement sur dividende nette
Netto dividendrendement
t = l/p
2.2%
2.1%
2.3%
2.4%
2.2%
A4
Stock market data [6]
Chiffres du marché boursier [6]
Effectenmarktcijfers [6]
A4
Annual volume (in 1000 shares)
Volume annuel (en 1000 actions)
Jaarlijks volume (in 1000 aandelen)
u
77,144
53,643
48,600
82,718
62,642
A4
Annual volume (in € million)
Volume annuel (en M€)
Jaarlijks volume (in € mln)
v
6,737
5,870
5,557
9,218
7,435
A4
Market capitalisation, end of year (in € million)
Capitalisation boursière (en M€)
Marktkapitalisatie, einde jaar (in € mln)
w = p*d
9,072.3
9,564.7
9,327.2
10,214.1
11,997.8
A4
Velocity
Taux de rotation
Omloopsnelheid
x = u/a
91.1%
63.3%
57.4%
78.1%
59.2%
A4
Velocity adjusted for free float
Taux de rotation ajusté du flottant
Omloopsnelheid aangepast voor free-float
y = u/(a-b-c)
134.4%
93.1%
84.7%
115.4%
88.2%
A4
0
[1] 2015 data are not presented on pro forma basis, i.e. exclude Cytec. [2] The numerator can be found under the same label in the historic key financial data table in section 1 of the Business review. [3] Recommended 2017 dividend, pending General Shareholders meeting on May 8, 2018. [4] Belgian withholding tax applicable in year of dividend payment, i.e. the following year: 25% in 2013-2015, 27% in 2016, 30% from 2017 onward. [5] The 2015 share price data use the share price adjusted by a factor 93.98% for the period until December 3, 2015. The adjustment reflects the distribution of rights during the capital increase completed in December 2015. [6] The stock market data are based on all trades registered by Euronext.
0
[1] Les chiffres de l'exercice 2015 ne sont pas présentés sur base pro forma, c'est-à-dire excluent Cytec. [2] Le numérateur peut être trouvé sous le même libellé dans le tableau des chiffres clés financiers historiques de la section 1 du Business review. [3] Le dividende de l'exercice 2016 est recommandé, en attendant l'Assemblée générale du 8 mai 2018. [4] Précompte mobilier belge applicable dans l'année de paiement du dividende, soit l'année suivante: 25% en 2013-2015, 27% en 2016, 30% à partir de 2017. [5] Les chiffres du cours de l'action en 2015 utilisent le cours ajusté d'un facteur de 93,98% pour la période jusqu'au 3 décembre 2015. Cet ajustement refléte la distribution des droits lors de l'augmentation de capital réalisée en décembre 2015. [6] Les données boursières sont basées sur l'ensemble des transactions enregistrées par Euronext.
Croissance qualifiée de "mid-to-high single-digit" en moyenne par an
Groei met midden-tot-hoog enkelvoudig cijfer gemiddeld per jaar
þ
+8.6%
+9.7%
+7.5%
-
0
Underlying profit for the period per share (basic)
Profit de la période sous-jacent par action (de base)
Onderliggende winst van de periode per aandeel (basis)
Average yoy growth
Croissance annuelle moyenne
Gemiddelde jaarlijkse groei
+25.6%
+11.8%
+25.9%
+39.2%
-
PR4
FCF (total)
FCF
Vrije kasstroom
Exceed €2.4 billion cumulatively over 3 years
En excès de 2.4 milliards d'€ cumulatif sur les 3 années
Meer dan € 2.4 mld cumulatief over 3 jaar
þ
2.7
1.0
0.9
0.9
0.5
0
Free cash flow to Solvay shareholders from continuing operations
Free cash flow aux actionnaires Solvay des activités poursuivies
Vrije kasstroom aan Solvay-aandeelhouders uit voortgezette bedrijfsactiviteiten
Average yoy growth
Croissance annuelle moyenne
Gemiddelde jaarlijkse groei
+19.6%
+49.6%
+9.3%
n.m.
-
PR4
CFROI
CFROI
CFROI
Increase by 0.5pp - 1.0pp over 3 years
Augmentation de +0.5pp - +1.0pp sur 3 années
Vermeerdering met +0.5pp - +1.0pp over 3 jaar
þ
+0.8pp
-
+0.6pp
+0.3pp
-
PR4
Greenhouse gas intensity
Intensité des émissions de gaz à effets de serre
Intensiteit van de uitstoot van broeikasgassen
Reduce by -20% over 3 years
Réduction de -20% sur 3 années
Vermindering met -20% over 3 jaar
þ
-24.1%
-0.2%
-5.8%
-19.3%
-
0
Greenhouse gas emissions
Emissions de gaz à effets de serre
Uitstoot van broeikasgassen
Average yoy reduction
Réduction annuelle moyenne
Gemiddelde jaarlijkse vernmindering
-0.1
-
-0.1
-0.1
-
PR4
Sustainable solutions (SPM)
Solutions durables (SPM)
Duurzame bedrijfsoplossingen (SPM)
Increase to 40% of net sales by 2018
Augmentation à 40% du chiffre d'affaires net d'ici 2018
Vermeerdering tot 40% over 3 jaar
þ
50%
50%
49%
43%
33%
PR4
Occupational accidents at Group sites
Accidents de travail sur les sites du Groupe
Arbeidsongevallen in de vestigingen van de Groep
Reduce by -10% over 3 years
Réduction de -10% sur 3 années
Vermindering met -10% over 3 jaar
þ
-29.9%
-16.9%
-15.6%
-
-
PR4
Employee engagement
Engagement des collaborateurs
Engagement van de medewerkers
Maintain at 75% by 2018
Maintien à 75% d'ici 2018
Aanhouden aan 75% tegen 2018
þ
76%
76%
75%
77%
75%
PR4
Employees involved in societal actions
Collaborateurs impliqués dans des actions sociétales
Medewerkers die zich maatschappelijk inzetten
Increase to more than 25% by 2018
augmentation à plus de 25% d'ici 2018
Vermeerdering tot meer dan 25% tegen 2018
þ
33%
33%
33%
23%
20%
PR4
TABLE Sust long
26.70
PR4E
PR4F
PR4N
PR4E
PR4F
PR4N
PR4E
PR4F
PR4N
PR4
0
0
PR4E
PR4F
PR4N
PR4
PR4
PR4
PR4
PR4
R4E
Key value indicators
Mid-term objectives
Achieved
FY 2018
FY 2017
FY 2016
FY 2015
R4E
2016 - 2018
2016 - 2018
pro forma
R4F
Chiffres clés de valeur
Objectifs à moyen terme
Réalisé
2018
2017
2016
2015
R4F
2016 - 2018
2016 - 2018
pro forma
R4N
Kernwaardecijfers
Doelstellingen op middellange termijn
Verwezenlijkt
2018
2017
2016
2015
R4N
2016 - 2018
2016 - 2018
pro forma
R4
Underlying EBITDA
EBITDA sous-jacent
Onderliggende EBITDA
(in € million)
(en M€)
(in € mln)
as published
tel que publié
zoals gepubliceerd
a
2,230
2,230
2,284
2,336
R4
restated
retraité
herwerkt
b
2,230
2,075
2,125
R4
at constant scope & forex
à taux de change & périmètre constant
bij constante perimeter en wisselkoers
c
2,034
2,077
R4
Average growth [1]
Croissance moyenne
Gemiddelde groei
(in %)
(en %)
(in %)
restated
retraité
herwerkt
= a(0) / b(-1) - 1
+5.0%
-
+7.5%
+7.5%
R4
at constant scope & forex
à taux de change & périmètre constant
bij constante perimeter en wisselkoers
= a(0) / c(-1) - 1
mid-to-high single-digit
+9.8%
+9.7%
+9.9%
R4
for average calculation
pour calcul moyen
voor gemiddelde berekening
= a(0) / c(-1) - 1
mid-to-high single-digit
"mid-to-high single-digit"
met midden-tot-hoog enkelvoudig cijfer
+8.6%
+9.7%
+7.5%
0
Underlying profit for the period per share (basic)
Profit de la période sous-jacent par action (de base)
Onderliggende winst van de periode per aandeel (basis)
(in €)
(en €)
(in €)
as published
tel que publié
zoals gepubliceerd
d
10.57
9.08
8.19
7.40
0
Average growth
Croissance moyenne
Gemiddelde groei
(in %)
(en %)
(in %)
as published
tel que publié
zoals gepubliceerd
= d(0) / d(-1) - 1
+12.7%
+16.4%
+10.8%
+10.7%
0
Underlying profit from continuing operations per share (basic)
Profit sous-jacent des activités poursuivies par action (de base)
Onderliggende winst uit voortgezette bedrijfsactiviteiten per aandeel (basis)
(in €)
(en €)
(in €)
as published
tel que publié
zoals gepubliceerd
d
8.48
7.59
7.06
6.98
0
(in €)
(en €)
(in €)
restated
retraité
herwerkt
e
7.59
6.02
5.07
0
Average growth
Croissance moyenne
Gemiddelde groei
(in %)
(en %)
(in %)
restated
retraité
herwerkt
= d(0) / e(-1) - 1
+25.6%
+11.8%
+25.9%
+39.2%
0
Research & innovation
Recherche & innovation
Onderzoek & innovatie
(in € million)
(en M€)
(in € mln)
as published
tel que publié
zoals gepubliceerd
-343
-352
-325
-350
-
0
Capex
Investissements
Kapitaalinvesteringen
(in € million)
(en M€)
(in € mln)
as published
tel que publié
zoals gepubliceerd
-833
-822
-981
-1,160
0
Average growth
Croissance moyenne
Gemiddelde groei
(in %)
(en %)
(in %)
as published
tel que publié
zoals gepubliceerd
= d(0) / d(-1) - 1
-10.1%
+1.4%
-16.2%
-15.5%
0
Capex from continuing operations
Invstissements des activités poursuivies
Kapitaalinvesteringen uit voortgezette bedrijfsactiviteiten
(in € million)
(en M€)
(in € mln)
as published
tel que publié
zoals gepubliceerd
-711
-716
-929
-1,092
0
(in € million)
restated
retraité
herwerkt
e
-716.33
-839.20
-1,056.84
0
Average growth
Croissance moyenne
Gemiddelde groei
(in %)
(en %)
(in %)
restated
retraité
herwerkt
= d(0) / e(-1) - 1
-9.2%
-0.8%
-14.6%
-12.1%
R4
FCF (total) [2]
FCF
Vrije kasstroom
(in € million)
(en M€)
(in € mln)
as published
tel que publié
zoals gepubliceerd
> 2,400
> 2 400
> 2 400
2,736
989
871
876
492
0
Average growth
Croissance moyenne
Gemiddelde groei
as published
tel que publié
zoals gepubliceerd
= d(0) / d(-1) - 1
+30.3%
+13.6%
-0.5%
+78.0%
0
Free cash flow from continuing operations
Free cash flow des activités poursuivies
Vrije kasstroom uit voortgezette bedrijfsactiviteiten
(in € million)
as published
tel que publié
zoals gepubliceerd
f
2,347
830
782
736
500
0
restated
retraité
herwerkt
g
782
658
394
0
Average growth
Croissance moyenne
Gemiddelde groei
restated
retraité
herwerkt
= f(0) / g(-1) - 1
+37.3%
+6.1%
+18.9%
+86.8%
0
FCF to Solvay shareholders
FCF aux actionnaires Solvay
Vrije kasstroom aan Solvay-aandeelhouders
(in € million)
(en M€)
(in € mln)
as published
tel que publié
zoals gepubliceerd
1,718
725
466
527
148
0
Average growth
Croissance moyenne
Gemiddelde groei
as published
tel que publié
zoals gepubliceerd
= d(0) / d(-1) - 1
+100.1%
+55.8%
-11.6%
+256.0%
0
Free cash flow to Solvay shareholders from continuing operations
Free cash flow aux actionnaires Solvay des activités poursuivies
Vrije kasstroom aan Solvay-aandeelhouders uit voortgezette bedrijfsactiviteiten
(in € million)
as published
tel que publié
zoals gepubliceerd
f
1,368
566
378
424
156
0
restated
retraité
herwerkt
g
378
346
-1
0
Average growth
Croissance moyenne
Gemiddelde groei
(in %)
(en %)
(in %)
restated
retraité
herwerkt
= f(0) / g(-1) - 1
+19.6%
+49.6%
+9.3%
n.m.
0
Dividend (recommended)
Dividende (recommendé)
Dividend (aanbevolen)
(in €)
(en €)
(in €)
as published
tel que publié
zoals gepubliceerd
h
3.75
3.60
3.45
3.30
0
Average growth
Croissance moyenne
Gemiddelde groei
(in %)
(en %)
(in %)
as published
tel que publié
zoals gepubliceerd
= h(0) / h(-1) - 1
+4.4%
+4.2%
+4.3%
+4.5%
0
Underlying net debt
Dette nette financière
Financiële nettoschuld
(in € million)
(en M€)
(in € mln)
as published
tel que publié
zoals gepubliceerd
-5,105
-5,346
-6,556
-6,579
0
Average reduction
Décroissance moyenne
Gemiddelde daling
(in %)
(en %)
(in %)
as published
tel que publié
zoals gepubliceerd
= h(0) / h(-1) - 1
-7.8%
-4.5%
-18.5%
-0.3%
R4
CFROI
CFROI
CFROI
(in %)
(en %)
(in %)
as published
tel que publié
zoals gepubliceerd
6.9%
6.9%
6.3%
6.1%
R4
Total improvement (+)
Amélioration totale (+)
Totale verbetering (+)
(in pp)
(en pp)
(in pp)
as published
tel que publié
zoals gepubliceerd
+0.5pp - +1.0pp
+0.5pp - +1.0pp
+0.5pp - +1.0pp
+0.8pp
-
+0.6pp
+0.3pp
0
Cash conversion (average)
Conversion en cash
Kasstroomomzetting
(in %)
(en %)
(in %)
as published
tel que publié
zoals gepubliceerd
> 60%
> 60%
> 60%
65.1%
68.1%
67.9%
59.3%
53.2%
0
Total improvement (+)
Amélioration totale (+)
Totale verbetering (+)
(in pp)
(en pp)
(in pp)
as published
tel que publié
zoals gepubliceerd
+0.5pp - +1.0pp
+0.5pp - +1.0pp
+0.5pp - +1.0pp
+14.9pp
+0.3pp
+8.6pp
+6.1pp
0
EBITDA margin
Marge d'EBITDA
EBITDA-marge
(in %)
(en %)
(in %)
as published
tel que publié
zoals gepubliceerd
21.7%
22.0%
21.0%
18.1%
0
Total improvement (+)
Amélioration totale (+)
Totale verbetering (+)
(in pp)
(en pp)
(in pp)
as published
tel que publié
zoals gepubliceerd
+0.5pp - +1.0pp
+0.5pp - +1.0pp
+0.5pp - +1.0pp
+3.6pp
-0.3pp
+1.0pp
+2.8pp
0
Research & innovation intensity
Intensité de recherche & innovation
Onderzoek- & innovatie-intensiteit
(in %)
(en %)
(in %)
as published
tel que publié
zoals gepubliceerd
3.3%
3.4%
3.2%
3.2%
-
0
Total improvement (+)
Amélioration totale (+)
Totale verbetering (+)
(in pp)
(en pp)
(in pp)
as published
tel que publié
zoals gepubliceerd
+0.5pp - +1.0pp
+0.5pp - +1.0pp
+0.5pp - +1.0pp
+3.4pp
+0.2pp
-
+3.2pp
0
Underlying leverage ratio [3]
Ratio de levier sous-jacent
Onderliggende hefboomgraad
as published
tel que publié
zoals gepubliceerd
2.0
2.2
2.6
2.8
0
Total improvement (-)
Amélioration totale (-)
Totale verbetering (-)
(in pp)
(en pp)
(in pp)
as published
tel que publié
zoals gepubliceerd
-80.3pp
-15.5pp
-43.5pp
-21.4pp
0
Key extra-financial data
Mid-term objectives
Achieved
FY 2018
0
2016 - 2018
0
Chiffres extra financiers clés
Objectifs à moyen terme
Réalisé
2018
0
-
0
Extra-financiële kerncijfers
Doelstellingen op middellange termijn
Verwezenlijkt
2018
0
-
R4
Greenhouse gas intensity
Intensité des émissions de gaz à effets de serre
Intensiteit van de uitstoot van broeikasgassen
(in kg CO2e / € EBITDA)
(en kg CO2e / € EBITDA)
(in kg CO2e / € EBITDA)
as published
tel que publié
zoals gepubliceerd
≤ 5.8
≤ 5,8
≤ 5,8
5.5
5.5
5.5
5.9
7.3
R4
Total improvement (-)
Amélioration totale (-)
Totale verbetering (-)
(in %)
(en %)
(in %)
-20.0%
-20.0%
-20.0%
-24.1%
-0.2%
-5.8%
-19.3%
R4
Sustainable solutions (SPM)
Solutions durables (SPM)
Duurzame bedrijfsoplossingen (SPM)
(in % of net sales)
(en % du chiffre d'affaires net)
(in % netto-omzet)
as published
tel que publié
zoals gepubliceerd
≥ 40%
≥ 40%
≥ 40%
50.0%
50.0%
49.0%
43.0%
33.0%
R4
Total improvement (+)
Amélioration totale (+)
Totale verbetering (+)
(in pp)
(en pp)
(in pp)
+7.0pp
+7.0pp
+7.0pp
+17.0pp
+1.0pp
+6.0pp
+10.0pp
R4
Occupational accidents at Group sites [3]
Accidents de travail sur les sites du Groupe
Arbeidsongevallen in de vestigingen van de Groep
(in # accidents / m working h)
(en # accidents / Mh de travail)
(in # werkongevallen / mln werkuren)
as published
tel que publié
zoals gepubliceerd
≤ 0.69
≤ 0,69
≤ 0,69
0.54
0.54
0.65
0.77
0.77
R4
Total improvement (-)
Amélioration totale (-)
Totale verbetering (-)
(in %)
(en %)
(in %)
-10.0%
-10.0%
-10.0%
-29.9%
-16.9%
-15.6%
-
R4
Employee engagement
Engagement des collaborateurs
Engagement van de medewerkers
(index on 100% scale)
(indexe sur échelle de 100%)
(index op schaal van 100%)
as published
tel que publié
zoals gepubliceerd
≥ 75%
≥ 75%
≥ 75%
76.0%
76.0%
75.0%
77.0%
75.0%
R4
Total improvement (+)
Amélioration totale (+)
Totale verbetering (+)
(in pp)
(en pp)
(in pp)
-
-
-
+1.0pp
+1.0pp
-2.0pp
+2.0pp
R4
Employees involved in societal actions
Collaborateurs impliqués dans des actions sociétales
Medewerkers die zich maatschappelijk inzetten
(in % of employees)
(en % des collaborateurs)
(in % van de medewerkers)
as published
tel que publié
zoals gepubliceerd
≥ 25%
≥ 25%
≥ 25%
33.0%
33.0%
33.0%
23.0%
20.0%
R4
Total improvement (+)
Amélioration totale (+)
Totale verbetering (+)
(in pp)
(en pp)
(in pp)
+5.0pp
+5.0pp
+5.0pp
+13.0pp
-
+10.0pp
+3.0pp
R4
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Disclaimer
Solvay SA published this content on 03 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 06 March 2023 08:29:03 UTC.
Following the spinoff of its Specialty Chemicals business Syensqo in December 2023, Solvay SA is focused on providing chemical products and intermediates to customers in a broad range of consumer and industrial end-markets. Originally founded in 1863, Solvay's current portfolio is operated through five divisions: Soda Ash and Derivatives, Peroxides, Silica, Special Chem and Coatis. Solvay SA offers customer-proximate regional locations, large scale as well as competitive cost curve positioning due to the vertical integration in its main businesses, process technology and product know-how. The company has a balanced global footprint with 12 major R&I centres as well as 45 industrial sites in 41 countries across the world.
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