Solvay's 2010 Results
| Strong growth of the operating result for Chemicals and Plastics activities REBIT for continuing activities up by 75% in the 4th quarter of 2010 (EUR 155 million) and by 94% overall for the year (EUR 602 million) ü Group sales (EUR 7,109 million); sales for continuing activities (EUR 6,796 million) up by 19% compared to 2009, in the context of a more sustained global activity (+14% in the 4th quarter) ü Group operating result[1] (EUR 633 million[2]), of which EUR 602 million for continuing activities Ø Overall, the operating result benefited from better sales volumes and significant efforts to control costs Ø Chemicals (EUR 312 million): up by 16% compared to 2009 thanks to improvement in sales volumes across all activities Ø Plastics (EUR 360 million): up by EUR 274 million compared to 2009 especially thanks to significant increase in sales volumes in Specialty Polymers ü Horizon reorganization project: Board approval on February 16th 2011; non-recurring charge of EUR 74 million in the 4th quarter 2010 ü Net income of Group (EUR 1,823 million) significantly improved thanks to the capital gains realized on the sale of the pharmaceuticals activities and on the sale of Inergy Automotive Systems ü Dividend proposed: EUR 3.0667 gross (EUR 2.3 net) per share (up by 4.5% compared to 2009) |
Please find enclosed
· a summary of the press release announcing the Solvay's 2010 results
· the full press release
Press release, summary and slides are available on
www.solvay-investors.com
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[1]The cost of discounting provisions (EUR 64 million in 2009 and EUR 52 million in 2010) was transferred to financing rather than operating charges in line with IAS19, considering the financial nature of this item.
[2]Includes the operating result of the five segments of the Group (Chemicals, Plastics, New Business Development, Corporate and Business Support and Pharmaceuticals (until February 15, 2010)).
