NOTE F8 Discontinued operations
- Index
- 1 NOTE F1 Segment information
- 2 NOTE F2 Consolidated income statement by nature
- 3 NOTE F3 Revenue from non-core activities
- 4 NOTE F4 Other operating gains and losses
- 5 NOTE F5 Results from portfolio management and reassessments, legacy remediation and major litigations
- 6 NOTE F6 Net financial charges
- 7 NOTE F7 Income taxes
- 8 NOTE F8 Discontinued operations
- 9 NOTE F9 Profit for the year
- 10 NOTE F10 Earnings per share
Accounting policy
A discontinued operation is a component of the Group which the Group has disposed of or which is classified as held for sale (see note F25 Assets held for sale), and which:
- represents a separate major line of business or geographical area of operations,
- is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations, or
- is a subsidiary acquired exclusively with a view to resale.
A component of the Group consists of operations and cash flows, which can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the Group.
In the consolidated statement of comprehensive income, the consolidated statement of cash flows and disclosures, discontinued operations are presented again for prior periods.
2017 |
Polyamides |
Acetow |
Emerging Biochemicals |
Other |
Total |
|||||
Net sales |
1,558 |
204 |
41 |
|
1,803 |
|||||
Breakdown discontinued operations |
|
|
|
|
|
|||||
EBIT |
121 |
220 |
25 |
(54) |
311 |
|||||
Financial result |
(3) |
(1) |
|
|
(4) |
|||||
Tax |
(60) |
(6) |
|
|
(67) |
|||||
Profit (loss) from discontinued operations |
58 |
213 |
25 |
(54) |
241 |
|||||
|
|
|
|
|
|
|||||
attributable to: |
|
|
|
|
|
|||||
Solvay share |
58 |
213 |
20 |
(54) |
237 |
|||||
non-controlling interests |
|
|
4 |
|
4 |
The €(54) million in the column Other results mainly from post-closing warranties related to the disposal of the Pharma business and the adjustment for the Indupa purchase price.
The EBIT for Polyamides includes M&A costs and impairment on intangible assets for €45 million. The EBIT for Acetow includes the capital gain for €180 million. The EBIT for Emerging Biochemicals includes the capital gain for €24 million.
2016 |
Polyamides |
Indupa |
Acetow |
Emerging Biochemicals |
Other |
Total |
||||||||
|
||||||||||||||
Net sales |
1,315 |
478 |
531 |
404 |
|
2,729 |
||||||||
Breakdown discontinued operations |
|
|
|
|
|
|
||||||||
Loss recognized as result of remeasurement to fair value less costs to sell |
|
(63) |
|
|
|
(63) |
||||||||
EBIT(1) |
104 |
(95) |
116 |
30 |
16 |
172 |
||||||||
Financial result |
(4) |
(31) |
(4) |
(2) |
|
(42) |
||||||||
Tax |
(12) |
(3) |
(33) |
|
|
(48) |
||||||||
Profit (loss) from discontinued operations |
88 |
(129) |
79 |
28 |
16 |
82 |
||||||||
|
|
|
|
|
|
|
||||||||
attributable to: |
|
|
|
|
|
|
||||||||
Solvay share |
88 |
(126) |
79 |
12 |
16 |
69 |
||||||||
non-controlling interests |
|
(3) |
|
16 |
|
13 |
||||||||