Historical key financial data
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As published |
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In € million |
|
2013 |
2014 |
2015(1) |
2016 |
2017 |
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Income statement data |
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Sales |
a |
10,367 |
10,629 |
11,047 |
11,403 |
10,891 |
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Net sales |
b |
9,938 |
10,213 |
10,578 |
10,884 |
10,125 |
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Underlying EBITDA |
c |
1,663 |
1,783 |
1,955 |
2,284 |
2,230 |
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Underlying EBITDA margin |
d |
17% |
17% |
18% |
21% |
22% |
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IFRS EBIT |
e |
647 |
652 |
833 |
962 |
976 |
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Underlying profit for the period |
f |
|
|
|
907 |
992 |
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IFRS profit for the period |
g |
315 |
13 |
454 |
674 |
1,116 |
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Underlying profit attributable to Solvay share |
h |
507 |
622 |
680 |
846 |
939 |
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IFRS profit attributable to Solvay share |
i |
270 |
80 |
406 |
621 |
1,061 |
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Cash flow data |
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|
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Capex |
k |
(810) |
(987) |
(1,037) |
(981) |
(822) |
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of which from continuing operations |
l |
(708) |
(861) |
(969) |
(929) |
(716) |
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Cash conversion |
m = (c+l)/c |
57% |
52% |
50% |
59% |
68% |
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Free cash flow |
n |
524 |
656 |
387 |
876 |
871 |
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Balance sheet data |
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Net working capital |
p |
1,217 |
1,101 |
1,557 |
1,396 |
1,414 |
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Net working capital/sales |
q = µ(p/a)(2) |
12.9% |
13.5% |
13.4% |
15.3% |
13.8% |
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Underlying net debt(3) |
r = s+t |
(2,302) |
(1,978) |
(6,579) |
(6,556) |
(5,346) |
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Perpetual hybrid bonds |
s |
(1,200) |
(1,200) |
(2,200) |
(2,200) |
(2,200) |
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IFRS net debt |
t |
(1,102) |
(778) |
(4,379) |
(4,356) |
(3,146) |
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Total equity |
u |
7,453 |
6,778 |
9,668 |
9,956 |
9,752 |
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Equity attributable to non-controlling interests |
v |
378 |
214 |
245 |
250 |
113 |
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Perpetual hybrid bonds in equity |
w |
1,194 |
1,194 |
2,188 |
2,188 |
2,188 |
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Equity attributable to Solvay share |
x = u-v-w |
5,881 |
5,369 |
7,234 |
7,518 |
7,451 |
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Underlying leverage ratio(4) |
y = -r/c |
1.4 |
1.1 |
2.8 |
2.6 |
2.2 |
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Other key data |
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CFROI |
A |
6.9% |
6.9% |
6.9% |
6.3% |
6.9% |
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Research & innovation |
B |
(280) |
(287) |
(320) |
(350) |
(325) |
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Research & innovation intensity |
C = -B/b |
2.8% |
2.8% |
3.0% |
3.2% |
3.2% |
The table above presents the historical figures of the Group as published at the reference date. These data have not been affected by possible subsequent restatements due to perimeter changes, IFRS/IAS standards evolution, etc.
Over the reference periods, the following main changes have occurred:
- 2012: Latin American chlorovinyls activities (Indupa) presented as discontinued and assets held for sale
- 2013:
- European chlorovinyls activities presented as discontinued and assets held for sale
- Acquisition of Chemlogics, consolidated as from November 1
- 2014:
- Application of IFRS 11
- Eco Services activities presented as discontinued and assets held for sale, and divested on December 2
- 2015:
- European chlorovinyls activities contributed to the Inovyn joint venture (50% Solvay, 50% Ineos) on July 1
- Acquisition of 100% of the shares of Cytec Industries Inc. on December 9. Cytec opening balance sheet has been fully consolidated within the Solvay group as from December 31, 2015. Cytec’s results and cash flows for the period between December 9 and December 31 are not material, except for acquisition-related expenses presented as portfolio management and reassessment. Consequently, Cytec did not contribute to the Group’s profit or cash flows in 2015.
- 2016:
- Divestment of Solvay's share in Inovyn joint venture on July 7
- Acetow and Vinythai businesses presented as discontinued operations and as assets held for sale
- Divestment of Latin American chlorovinyls activities (Indupa) on December 27
- 2017:
- Vinythai transaction completed end of February
- Acetow transaction completed end of May
- Divestment of Polyamide business classified as discontinued operations and assets and liabilities held for sale at the end of September 2017.