back to top
My wish lists
Save your wish list
If you want to add more content to your wish list, simply log in. If you do not have a user account, please register for the Hanser Customer Center.

» Do you already have a user account? Please log in here.
» Don't have a user account yet? Please register here.
Your wish lists
If you want to use your wish list during your next visit, simply log in. If you do not have a user account, please register for the Hanser Customer Center.
» Do you already have a user account? Please log in here.
» Don't have a user account yet? Please register here.

« Back

Your advantages at a glance

  • One login for all Hanser portals
  • Individual home page for faster access to preferred content
  • Exclusive access to selected content
  • Personal wish lists on all portals
  • Central management of your personal information and newsletter subscriptions

Register now
Deutsch
Bookmark Bookmarked
08-02-2010

Solvay: Significantly Higher Operating Result

Solvay group sales for the first half of 2010 amounted to EUR 3,761 million. They were up by 25% compared to the first half of 2009, not including the Pharmaceuticals activities; compared to the first quarter, sales from the second quarter improved by 16%. Sales from the Chemicals Sector (EUR 1,444 million) were slightly up (+3%) compared to the first half of 2009, with the improvement in sales volumes (+16%) compensating for the lower sales prices (-16%).

Recurring Group operating result (REBIT) from the first half of 2010 amounted to EUR 329 million. Not including Pharmaceuticals activities, it significantly improved compared to last year (EUR 298 million in the first half of 2010 compared to EUR 126 million in the first half of 2009). In the second quarter (EUR 183 million), it was up by 193% compared to the second quarter of 2009 (EUR 63 million) and by 59% compared to the first quarter of 2010 (EUR 115 million).

Solvay’s Plastics Sector sales for the first six months of the year (EUR 2,005 million) were significantly higher (+48%) than those of last year. They continued to improve in the second quarter (EUR 1,088 millions, +19% compared to the first quarter of 2010). This can be explained by the sharp increase in sales volumes in the “specialties” cluster (Specialty Polymers and Inergy Automotive Systems), while prices remained globally stable. Although all regions of the world were involved, this improvement was particularly notable in Asia. In Vinyls and at Pipelife, the improvement in demand remains limited in the context of a stagnant European construction sector. The operating result for the Plastics Sector in the first half of 2010 (EUR 173 million) clearly improved compared to last year (EUR 14 million). That of the second quarter (EUR 114 million) is significantly higher than that of the first quarter 2010 (EUR 59 million). This improvement derived primarily from the “Specialties” cluster. The operating result for Vinyls improved compared to the low level of last year but it continued to be penalized by the low level of margins in Europe and Mercosur and by the absence of a resumption of demand in construction in Europe.

On July 28, 2010, Plastic Omnium and Solvay signed a binding agreement for purchase in the second half of 2010 by Plastic Omnium of Solvay’s stake in Inergy Automotive Systems. Solvay will receive for its shares EUR 270 million in cash. This represents an Enterprise Value of about EUR 330 million for the 50% stake of Solvay taking into account the assumption of debt and other liabilities for an adjusted value of about EUR 60 million. Consequently, the assets and liabilities of Inergy Automotive Sytems are transferred to “Assets held for sale” and “Liabilities linked to assets held for sale” in the balance sheet as of the end of June 2010.

Newsletter

Would you like to subscribe to our Newsletters on plastics technology and profit from the latest information?

Subscribe here

Subscribe here

Job Advertisements

Looking for a new challenge? Check out our jobs market!

Job Advertisements

Patents Stimulate Innovation

Patents encourage innovation: Stay on the ball with the latest innovations in the plastics industry in our patents section.

Patents