2019 Annual Integrated Report

Net sales evolution
FY yoy net sales bridge (in €million)

Net sales (bar chart)

Full year net sales were stable, supported by positive forex conversion effects. Organically[1], net sales were down ‑2.2%, with lower volumes being partly compensated by higher prices.

The slight reduction in scope[2] is mainly related to the divestment of remaining soda ash related activities in Egypt in October 2018.

Volumes were down ‑3.9%, as demand fell in the automotive, electronics and oil & gas markets, which represents about 25% of Solvay’s sales. This was partly offset by the strong demand for composite materials in aerospace applications. Demand for soda ash and peroxide proved resilient.

Prices increased by +1.7%, benefiting from higher prices for soda ash and peroxides.

Net sales by market

[1] Organic growth excludes forex conversion and scope effects, as well as the effect from the implementation of IFRS 16. Reported growth compares to the published 2018 pro forma figures, adjusted for the implementation of IFRS 16.

[2] Scope effects include acquisitions and divestments of smaller businesses not leading to the restatement of previous periods.