IFRS 16 has been implemented in the Group’s financial statements since January 1, 2019. Comparative information for 2018 in the business review is presented on an unaudited pro forma basis as if the implementation had taken place on January 1, 2018. The information is labelled “pro forma” or “PF”.
In € million |
|
IFRS |
Underlying |
||||||||
Notes |
FY 2019 |
FY 2018 PF |
% yoy |
FY 2019 |
FY 2018 PF |
% yoy |
|||||
|
|||||||||||
Net sales |
10,244 |
10,257 |
–0.1% |
10,244 |
10,257 |
–0.1% |
|||||
Net operating costs, excluding depreciation & amortization |
(8,022) |
(8,227) |
+2.5% |
(7,922) |
(7,927) |
+0.1% |
|||||
EBITDA |
2,222 |
2,030 |
+9.5% |
2,322 |
2,330 |
–0.4% |
|||||
EBITDA margin |
|
|
|
|
22.7% |
22.7% |
–0.1pp |
||||
Depreciation, amortization & impairments |
(1,906) |
(1,036) |
–84% |
(818) |
(777) |
–5.4% |
|||||
EBIT |
|
316 |
994 |
–68% |
1,503 |
1,554 |
–3.2% |
||||
Net financial charges |
(242) |
(210) |
–15% |
(332) |
(342) |
+2.8% |
|||||
Income tax expenses |
(153) |
(73) |
n.m. |
(305) |
(303) |
–0.6% |
|||||
Tax rate |
|
|
|
27.8% |
26.1% |
+1.6pp |
|||||
Profit from discontinued operations |
236 |
201 |
+18% |
247 |
216 |
+14% |
|||||
Profit/(loss) for the period |
|
157 |
910 |
–83% |
1,113 |
1,125 |
–1.0% |
||||
(Profit)/loss attributable to non-controlling interests |
|
(38) |
(39) |
–2.9% |
(39) |
(40) |
–2.5% |
||||
Profit/(loss) attributable to Solvay shareholders |
|
118 |
871 |
–86% |
1,075 |
1,085 |
–1.0% |
||||
Basic earnings per share (in €) |
1.15 |
8.43 |
–86% |
10.41 |
10.51 |
–0.9% |
|||||
of which from continuing operations |
(1.14) |
6.49 |
n.m. |
8.02 |
8.42 |
–4.7% |
|||||
Dividend(1) |
3.75 |
3.75 |
– |
3.75 |
3.75 |
– |
|||||
Capex in continuing operations |
|
|
|
(826) |
(794) |
–4.0% |
|||||
Cash conversion |
|
|
|
0.6 |
0.7 |
–1.5% |
|||||
FCF to Solvay shareholders from continuing operations |
|
|
|
606 |
566 |
+7.1% |
|||||
FCF to Solvay shareholders |
|
|
|
801 |
726 |
+10% |
|||||
FCF conversion ratio |
|
|
|
|
28% |
26% |
+1.8% |
||||
Net working capital |
1,560 |
1,557 |
|
|
|
|
|||||
Net working capital/sales |
16% |
|
|
|
|
|
|||||
Net financial debt(2) |
(3,586) |
(2,605) |
–38% |
(5,386) |
(5,538) |
+2.8% |
|||||
Underlying leverage ratio |
|
|
|
2.0 |
2.1 |
–0.1pp |
|||||
CFROI |
|
|
|
6.5% |
6.8% |
–0.3pp |
|||||
ROCE |
|
|
|
|
8.1% |
8.2% |
–0.1pp |
||||
Research & innovation |
|
|
|
(336) |
(352) |
+4.7% |
|||||
Research & innovation intensity |
|
|
|
3.3% |
3.4% |
–0.2pp |
|||||