In € million

 

 

 

FY 2016

 

FY 2015 pro forma

IFRS research & development costs

 

a

 

(305)

 

(318)

Grants & royalties netted in research & development costs

 

b

 

33

 

32

Depreciation, amortization & impairments included in research & development costs

 

c

 

(54)

 

(39)

Capex in research & innovation

 

d

 

(66)

 

(50)

Research & innovation

 

e = a-b-c+d

 

(350)

 

(361)

Net sales

 

f

 

10,884

 

11,415

Research & innovation intensity

 

g = -e/f

 

3.2%

 

3.2%

Research & Innovation efforts in 2016 were € -350 million. The 3% gap is mainly related to the Cytec restatement and the reduction of R&I corporate due to stop of OLED project. 85% of the Group’s R&I investments are directly managed by businesses.

Research & innovation efforts are driven by the following four innovation levers:

  • A process of excellence to improve its efficiency and shorten time to market;
  • An intellectual property policy to drive Solvay’s future differentiation;
  • An extended network of open innovation (through partnerships with academics, SMEs or other industrials) to maximize its efficiency and tap into the creativity and competencies of the external world;
  • Explanatory partnerships with start-ups and venture capital funds which allow Solvay to unleash potential in strategic areas.