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 2016 presented below is based on a dividend of € 3.45 per share.
Solvay SA is a société anonyme created under Belgian law, with its registered office at rue de Ransbeek 310 at 1120 Brussels. Solvay SA has two subsidiaries: Solvay SA France (25, rue de Clichy, 75009 Paris, France) and Solvay SA Italie (Via Piave 6, 57013 Rosignano, Italy).
The accounts of Solvay SA are prepared in accordance with Belgian generally accepted accounting principles, and include its French and Italian subsidiaries.
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. It also manages the research center at Neder-Over-Heembeek (Belgium) and a very limited number of industrial and commercial activities not undertaken through subsidiaries.
The profit for the year before taxes amounted to € 400 million in 2016, compared with € 1,775 million in the previous year. It includes the operating result amounting to € (119) million, compared with € 75 million in 2015, dividends received from its various participations amounting to € 467 million, compared with € 96 million in 2015, and the differential between interest paid and received on its financing activities amounting to € (153) million, compared with an amount of € (189) million in 2015. The balance of non-recurring results for 2016 is € 190 million, compared with € 1,754 million in 2015. The higher amount in 2015 was due to an exceptional gain on sale of a participation.
The profit for the year of Solvay SA amounted in 2016 to € 404 million, compared with € 1,774 million in 2015.
In the absence of transfers to untaxed reserves, carried forward net income of € 6,321 million is available for distribution.