3. Summary of financial statements of Solvay SA
The annual financial statements of Solvay SA are presented in summary format below. In accordance with the Belgian Companies Code, the annual financial statements of Solvay SA, the management report, and the statutory auditor’s report will be filed with the National Bank of Belgium.
These documents are also available free of charge on the internet or upon request from:
rue de Ransbeek 310
B – 1120 Brussels
The balance sheet of Solvay SA for the year 2017 presented below is based on a dividend repartition of €3.60 per share.
As at the end of 2017, Solvay SA still has one branch, Solvay SA Italia (Via Piave 6, 57013 Rosignano, Italy). Previously, Solvay SA had a second branch, Solvay SA French Branch (25, rue de Clichy, 75009 Paris, France) which was contributed in kind to the French subsidiary Solvay France SA with effect as from January 1, 2017. In addition, as from February 1, 2017, the financial statements of Solvay SA include all assets and liabilities transferred from the company Solvay CICC SA, the internal bank of the Group. Those two significant corporate changes explain the main variations of balance sheet captions.
The accounts of Solvay SA are prepared in accordance with Belgian generally accepted accounting principles.
The main activities of Solvay SA consist of holding and managing a number of participations in Group companies and of financing the Group from the bank and bond markets. In 2017, Solvay SA also launched a factoring activity without recourse. As a result, Solvay SA owns and manages Group’s receivables from subsidiaries located in Europe and Asia. It also manages the research center at Neder-Over-Heembeek (Brussels, Belgium) and a very limited number of commercial activities not undertaken through subsidiaries.