Accounting policy

A discontinued operation is a component of the Group which the Group has disposed of or which is classified as held for sale (see note F25 Assets held for sale), and which:

  • represents a separate major line of business or geographical area of operations,
  • is part of a single coordinated plan to dispose of a separate major line of business or geographical area of operations, or
  • is a subsidiary acquired exclusively with a view to resale.

A component of the Group consists of operations and cash flows, which can be clearly distinguished, operationally and for financial reporting purposes, from the rest of the Group.

In the consolidated statement of comprehensive income, the consolidated statement of cash flows and disclosures, discontinued operations are presented again for prior periods.

2017
In € million

 

Polyamides

 

Acetow

 

Emerging Biochemicals

 

Other

 

Total

Net sales

 

1,558

 

204

 

41

 

 

 

1,803

Breakdown discontinued operations

 

 

 

 

 

 

 

 

 

 

EBIT

 

121

 

220

 

25

 

(54)

 

311

Financial result

 

(3)

 

(1)

 

 

 

 

 

(4)

Tax

 

(60)

 

(6)

 

 

 

 

 

(67)

Profit (loss) from discontinued operations

 

58

 

213

 

25

 

(54)

 

241

 

 

 

 

 

 

 

 

 

 

 

attributable to:

 

 

 

 

 

 

 

 

 

 

Solvay share

 

58

 

213

 

20

 

(54)

 

237

non-controlling interests

 

 

 

 

 

4

 

 

 

4

The €(54) million in the column Other results mainly from post-closing warranties related to the disposal of the Pharma business and the adjustment for the Indupa purchase price.

The EBIT for Polyamides includes M&A costs and impairment on intangible assets for €45 million. The EBIT for Acetow includes the capital gain for €180 million. The EBIT for Emerging Biochemicals includes the capital gain for €24 million.

2016
In € million

 

Polyamides

 

Indupa

 

Acetow

 

Emerging Biochemicals

 

Other

 

Total

(1)

Including recycling of currency translation adjustments for Indupa (€ (55) million).

Net sales

 

1,315

 

478

 

531

 

404

 

 

 

2,729

Breakdown discontinued operations

 

 

 

 

 

 

 

 

 

 

 

 

Loss recognized as result of remeasurement to fair value less costs to sell

 

 

 

(63)

 

 

 

 

 

 

 

(63)

EBIT(1)

 

104

 

(95)

 

116

 

30

 

16

 

172

Financial result

 

(4)

 

(31)

 

(4)

 

(2)

 

 

 

(42)

Tax

 

(12)

 

(3)

 

(33)

 

 

 

 

 

(48)

Profit (loss) from discontinued operations

 

88

 

(129)

 

79

 

28

 

16

 

82

 

 

 

 

 

 

 

 

 

 

 

 

 

attributable to:

 

 

 

 

 

 

 

 

 

 

 

 

Solvay share

 

88

 

(126)

 

79

 

12

 

16

 

69

non-controlling interests

 

 

 

(3)

 

 

 

16

 

 

 

13