In € million

 

Notes

 

2016

 

2015

Net sales

 

(F1)

 

10,884

 

9,615

Revenue from non-core activities

 

 

 

520

 

467

Raw materials, utilities and consumables used

 

 

 

(4,547)

 

(4,212)

Use of the PPA step-up for inventories

 

 

 

(82)

 

 

Changes in inventories

 

 

 

(20)

 

(24)

Personnel expenses

 

 

 

(2,432)

 

(2,041)

Wages / salaries and direct social benefits

 

 

 

(1,674)

 

(1,407)

Employer's contribution for social insurance

 

 

 

(340)

 

(315)

Pensions and insurance benefits

 

 

 

(210)

 

(170)

Other personnel expenses

 

 

 

(208)

 

(149)

Amortization, depreciation and impairment

 

(F12)

 

(1,169)

 

(819)

Other variable logistics expenses

 

 

 

(658)

 

(746)

Other fixed expenses

 

 

 

(1,388)

 

(1,302)

Addition and reversal of provisions (excluding employee benefit provisions)

 

(F31)

 

(198)

 

(89)

Operating lease expenses

 

(F24)

 

(107)

 

(81)

M&A costs and gains and losses on disposals

 

(F5)

 

75

 

(94)

Earnings from associates and joint ventures

 

(F4)

 

85

 

21

EBIT

 

 

 

962

 

695

Cost of borrowings

 

(F6)

 

(188)

 

(108)

Interest on lendings and short term deposits

 

(F6)

 

13

 

9

Other gains and losses on net indebtedness

 

(F6)

 

(50)

 

(47)

Cost of discounting provisions

 

(F6)

 

(118)

 

(69)

Income/loss from available-for-sale financial assets

 

(F6)

 

5

 

(8)

Profit for the year before taxes

 

 

 

624

 

472

Income taxes

 

(F7)

 

56

 

(69)

Profit for the year from continuing operations

 

 

 

680

 

403

Profit (loss) for the year from discontinued operations

 

(F8)

 

(6)

 

51

Profit for the year

 

(F9)

 

674

 

454

attributable to:

 

 

 

 

 

 

Solvay share

 

 

 

621

 

406

non-controlling interests

 

 

 

53

 

48

The consolidated income statement 2016 takes into account Cytec’s results, consolidated as from January 1, 2016.