In € million |
2019 |
2018 |
Operating income |
987 |
1,024 |
Sales |
13 |
11 |
Other operating income |
974 |
1,013 |
Operating expenses |
(855) |
(982) |
Operating profit |
132 |
42 |
Financial income and expenses |
413 |
495 |
Profit for the year before taxes |
545 |
537 |
Income taxes |
(18) |
(11) |
Profit for the year |
527 |
526 |
Profit for the year available for distribution |
527 |
526 |
In 2019, the profit for the year of Solvay SA amounted to € 527 million, compared with € 526 million in 2018.
It includes:
- the operating result amounting to € 132 million, compared with € 42 million in 2018. The increase is mainly driven by higher recharges to affiliates;
- financial gains and losses of which:
- dividends received from its various financial investments amounting to €1,469 million, partly offset by impairment on shares (€ (985) million), including impairment on shares of Solvay Finance Luxembourg (€ 820 million) after distribution of reserves to fund the capital increase in Solvay Holding Inc. In 2018 Solvay SA received dividends for € 177 million and recognized a capital gain of € 370 million resulting from the sale of investments within the Group;
- the differential between interest expense and income on its financing activities amounting to € (64) million, to be compared with an amount of € (62) million in 2018.
An amount of € 6,963 million including the profit for the year is available for distribution.