Solvay
2017 Annual Integrated Report
Solvay
2017 Annual Integrated Report
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Solvay

2017 Annual Integrated Report

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  • Understanding Solvay
    • In short
      • About this report
      • Key figures
      • 10 highlights of 2017
    • Vision & Strategy
      • Shaping our future through innovation
      • Stakeholders speak – Employees
      • Chairmen’s message
      • A customer-centric strategy
      • Stakeholders speak – Customers
    • Business environment
      • Keeping pace with changing global trends
      • Innovative solutions for our markets
      • Stakeholders speak – Planet
    • Our sustainable value creation model
      • Our model for creating sustainable value
      • Our approach to Risk Management
      • Stakeholders speak – Suppliers
    • Governance
      • Two complementary governance bodies
        • Leadership team
      • Driving sustainability
      • A balanced remuneration policy
      • Stakeholders speak – Investors
    • Performance and outlook
      • Our scorecard
      • Recognition from the rating agencies
      • Our outlook for 2018
      • Stakeholders speak – Local Communities
  • Governance
    • Introduction
    • Capital, shares and shareholders
    • Relations with shareholders and investors
      • Performance of the Solvay share
      • Engaged financial communication
      • Roadshows and meetings for institutional stakeholders
      • Individual investors
    • Board of Directors and Board Committees
      • Board of Directors
        • Structure and composition
        • Functioning of the Board of Directors
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      • Board Committees
        • The Audit Committee
        • The Finance Committee
        • The Compensation Committee
        • The Nominations Committee
    • Executive Committee
    • Compensation report
      • Governance
      • Board of Directors compensation
      • Executive Committee compensation
      • Stock options and PSU alloted in 2017 to Executive Committee members
      • Most important provisions of their contractual relationships with the Company and/or an affiliated company, including the provisions relating to compensation in the event of early departure
    • Main characteristic of risk management and internal control systems
    • External audit
    • Items to be disclosed pursuant to the Belgian Royal Decree
    • Declaration by the Persons Responsible
  • Risks
    • Introduction
    • Risk management process
    • Main risks
      • Security
      • Climate related physical risk
      • Industrial safety
      • Transport accident
      • Ethics and compliance
      • Climate transition - emerging risk
      • Cyber risk
      • Chemical product usage
    • Other risks
    • Important litigation
      • Antitrust proceedings
      • HSE-related proceedings
      • Pharmaceutical activities
  • Business review
    • Overview of the consolidated results
      • Key financial figures
      • Historical key financial data
    • Preparation background
      • Comparability of results
      • Reconciliation of underlying Income Statement indicators
      • Alternative performance metrics (APM)
      • Description of the operational segments
    • Notes to the underlying Group figures
      • NOTE B1 Net sales
      • NOTE B2 Underlying raw material & energy costs
      • NOTE B3 Underlying EBITDA
      • NOTE B4 Underlying depreciation & amortization
      • NOTE B5 Underlying net financial charges
      • NOTE B6 Underlying income taxes
      • NOTE B7 Underlying profit from discontinued operations
      • NOTE B8 CAPEX
      • NOTE B9 Free Cash Flow
      • NOTE B10 Net working capital
      • NOTE B11 Underlying net debt
      • NOTE B12 CFROI
      • NOTE B13 Research & Innovation
    • Notes to the underlying figures per segment
      • NOTE B14 Advanced Materials
      • NOTE B15 Advanced Formulations
      • NOTE B16 Performance Chemicals
      • NOTE B17 Corporate & Business Services
    • Reconciliation of underlying with IFRS figures
      • NOTE B18 IFRS EBITDA
      • NOTE B19 IFRS EBIT
      • NOTE B20 IFRS Net financial charges
      • NOTE B21 IFRS Income taxes
      • NOTE B22 IFRS Profit from discontinued operations
      • NOTE B23 IFRS Profit for period
    • Notes to the figures per share
      • NOTE B24 Earnings per share
      • NOTE B25 Dividend
    • Outlook 2018
  • Extra-financial statements
    • Overview of the consolidated results
      • Priority aspects
      • Highly material aspects
      • Moderate materiality aspects
    • Sustainability management
      • Solvay Way approach and management
        • Solvay Way commitments and practices
      • Sustainable Portfolio Management
    • Basis of preparation
      • Reporting practices
      • Materiality analysis
        • Process
      • Stakeholder engagement
        • Membership of associations
    • Business model and innovation
      • Sustainable business solutions
        • Research and innovation
        • Health and environmental impacts of products
      • Product stewardship
        • Transport safety
    • Environment
      • Greenhouse gas emissions
      • Energy
      • Air quality
      • Water and wastewater
      • Waste and hazardous materials
    • Human capital
      • Employee health and safety
        • Occupational safety
        • Industrial hygiene
        • Health management
      • Employee engagement and wellbeing
      • Diversity and inclusion
      • Recruitment, development and retention
    • Social capital
      • Customer welfare
      • Societal actions
    • Leadership and Governance
      • Management of the legal, ethics and regulatory framework
        • Health, safety, environment management and compliance
        • Public policy
        • Animal testing
      • Process accident and safety
        • Environmental accidents and remediation
        • Emergency preparedness
      • Supply chain management
        • Raw materials
    • Assurance report of the Statutory Auditor on a selection of social, environmental and other sustainable development information
    • GRI Content Index
  • Financial statements
    • Consolidated financial statements
      • Consolidated income statement
      • Consolidated statement of comprehensive income
      • Consolidated statement of cash flows
      • Consolidated cash flows from discontinued operations
      • Consolidated statement of financial position
      • Consolidated statement of changes in equity
    • Notes to the consolidated financial statements
      • IFRS general accounting policies
        • 1. Basis of preparation
        • 2. Basis of measurement and presentation
        • 3. Principles of consolidation
        • 4. Foreign currencies
        • 5. Government grants
      • Critical accounting judgments and key sources of estimation uncertainty
      • Notes to the consolidated income statement
        • NOTE F1 Segment information
        • NOTE F2 Consolidated income statement by nature
        • NOTE F3 Revenue from non-core activities
        • NOTE F4 Other operating gains and losses
        • NOTE F5 Results from portfolio management and reassessments, legacy remediation and major litigations
        • NOTE F6 Net financial charges
        • NOTE F7 Income taxes
        • NOTE F8 Discontinued operations
        • NOTE F9 Profit for the year
        • NOTE F10 Earnings per share
      • Notes to the consolidated statement of comprehensive income
        • NOTE F11 Consolidated statement of comprehensive income
      • Notes to the consolidated statement of cash flows
        • NOTE F12 Depreciation, amortization and impairments
        • NOTE F13 Other non operating and non cash items
        • NOTE F14 Income taxes
        • NOTE F15 Changes in working capital
        • NOTE F16 Changes in provisions
        • NOTE F17 Cash flows from investing activities – acquisition/disposal of assets and investments
        • NOTE F18 Equity
        • NOTE F19 Other cash flows from financing activities
        • NOTE F20 Cash flow from discontinued operations
      • Notes to the consolidated statement of financial position
        • NOTE F21 Intangible assets
        • NOTE F22 Goodwill and business combinations
        • NOTE F23 Property, plant and equipment
        • NOTE F24 Leases
        • NOTE F25 Assets held for sale
        • NOTE F26 Investments in associates and joint ventures
        • NOTE F27 Other investments
        • NOTE F28 Impairment of property, plant and equipment, intangible assets, and equity method investees
        • NOTE F29 Inventories
        • NOTE F30 Other receivables (current)
        • NOTE F31 Provisions
        • NOTE F32 Financial instruments and financial risk management
        • NOTE F33 Net indebtedness
        • NOTE F34 Other liabilities (current)
        • NOTE F35 Share-based payments
      • Miscellaneous Notes
        • NOTE F36 Commitments to acquire property, plant and equipment and intangible assets
        • NOTE F37 Contingent liabilities
        • NOTE F38 Dividends proposed for distribution
        • NOTE F39 Associates and joint ventures
        • NOTE F40 Joint operations
        • NOTE F41 Non-controlling interests (continuing operations)
        • NOTE F42 Related parties
        • NOTE F43 Events after the reporting period
        • NOTE F44 List of companies included in the consolidation scope
    • Summary financial statements of Solvay SA
      • Balance sheet
      • Income statement
      • Profit available for distribution
    • Auditor's report for financial statements
    • Glossary
    • Shareholder’s diary

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  • Financial statements
  • Notes to the consolidated financial statements
  • Notes to the consolidated statement of cash flows
  • NOTE F14 Income taxes

NOTEF14 Income taxes

  • Index
  • 12 NOTE F12 Depreciation, amortization and impairments
  • 13 NOTE F13 Other non-operating and non-cash items
  • 14 NOTEF14 Income taxes
  • 15 NOTE F15 Changes in working capital
  • 16 NOTE F16 Changes in provisions
  • 17 NOTE F17 Cash flows from investing activities – acquisition/disposal of assets and investments
  • 18 NOTE F18 Equity
  • 19 NOTE F19 Other cash flows from financing activities
  • 20 NOTE F20 Cash flow from discontinued operations

In 2017

Income tax income amounts to €131 million, of which €197 million for continuing operations.

Income tax paid amounts to €223 million, of which €199 million for continuing operations.

In 2016

Income tax income amounted to €21 million, of which €68 million for continuing operations.

Income tax paid amounted to €212 million, of which €161 million for continuing operations.

NOTE F13 Other non operating and non cash items NOTE F15 Changes in working capital
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Solvay ©2018 2017 Annual Integrated Report Last update April 4, 2018

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