Solvay S.A. : Solvay: Full year and Q4 2012 business review

         Solvay S.A. : Solvay: Full year and Q4 2012 business review

Brussels, February 14^th, 2013

Highlights Q4 2012

· Net sales € 2,989 m, up 4% yoy with stable volumes, prices +2%, forex +2%

· Adj. REBITDA at € 430 m, up 22% yoy

·  Specialty  Polymers  and   Consumer  Chemicals  continued  delivering   yoy 
double-digit growth,  whilst  Essential  Chemicals remained  very  robust  and 
Acetow & EcoServices resilient

· Difficult market  conditions prevailed  for Polyamide and  Vinyls, and  Rare 
Earths still suffered from Lighting market's slow down

· Partial reversal of soda ash impairment of € 149 m

· Adj. EBIT at € 349 m compared to € 196 m last year

· Free Cash Flow of € 251 m

· Solvay Indupa reported as Assets held for sale as from Q4'12

Highlights FY 2012

· Net sales up 2% yoy to € 12,435 m, with volumes (4)%, prices +2%, forex  +3% 
and scope +1%.

· Adj. REBITDA at € 2,067 m, up 2% yoy

· Confirmed pricing power

· Integration completed and faster delivery  of cost efficiencies (€ 170 m  in 
2012 and € 400 m anticipated to 2014, vs 2010 cost base)

· Adj. EBIT at € 1,451 m compared to € 1,420 m last year

· Adj. Net Income (Group  Share) of € 710  m compared to €  727 m in 2011  pro 

· Free Cash Flow of € 787 m and improved Net Debt to € 1.1 bn versus € 1.8  bn 
in 2011

Dividend proposed: EUR 3.20 gross per share, +4.3% compared to 2011

IFRS measures (non-PPA adjusted)

PPA charges relate  to the  impacts from the  step-up of  inventories and  the 
Depreciation  &   Amortization  from   Rhodia's  revalued   assets  upon   the 
acquisition. Overall net after-tax impact amounted to € (126) m in 2012.

· EBIT: FY'12 at € 1,275 m vs € 555 m  in 2011; Q4'12 at € 317 m versus € 7  m 
the last year quarter;

· Net Income (Group Share): FY'12  at € 584 m vs €  247 m in 2011; Q4'12 at  € 
181 m versus € (23) m the last year quarter;

Quote of the CEO

Despite the difficult  trading conditions experienced  by our cycle  sensitive 
businesses throughout the year, the mobilization  of our teams and the  strong 
delivery in cost  efficiencies and  integration synergies allowed  us to  meet 
profitability  and   exceed   cash  generation   expectations.   Beyond   this 
performance, 2012  achievements were  instrumental in  strengthening  Solvay's 
foundations. We successfully completed the integration and the  transformation 
of the Group, set up  a clear strategic vision and  put in place a more  agile 
and decentralized organization to support our value creative ambition.


The macroeconomic environment remains contrasted in the beginning of the year,
in line with  the preceding quarter.  The situation in  Asia is improving  and 
North America is pursuing  its recovery path.  However, the situation  remains 
uncertain in Latin  America and challenging  in Europe. In  this context,  the 
Group  will  continue  reshaping   its  business  portfolio,  optimizing   its 
industrial  footprint,  and  enhancing   the  implementation  of   operational 
excellence initiatives across the board. Solvay is committed to deliver on its
€3 billion REBITDA ambition  in 2016 at constant  perimeter and will  maintain 
selective investments to support its growth engines.

- Solvay Indupa, Vinyls South America activity is reported as "Assets held for
sale" as from  Q4'12. As  a consequence  and for  comparability purposes,  all 
historical references within this report  has been restated to present  Solvay 
Indupa as discontinued activities and as "Assets held for sale".
- Net sales comprise the sales of goods and value-added services corresponding
to Solvay's  know-how and  core  business. Net  sales exclude  other  revenues 
primarily comprising  commodity and  utility  trading transactions  and  other 
revenue deemed as incidental by the Group.
-  Adj.  REBITDA:  Operating  result  before  depreciation  and  amortization, 
non-recurring items, financial charges and income taxes Adjusted Profit & Loss
indicators exclude non-cash Purchase Price Allocation (PPA) accounting impacts
related to the Rhodia acquisition.
- Cash flow from operating activities (including dividends from associates and
joint ventures) + cash flow from investing activities (excluding  acquisitions 
and sales of subsidiaries and other investments).
All references to  year-on-year (yoy) evolution  must be understood  on a  pro 
forma basis for  2011, as if  the acquisition of  Rhodia had become  effective 
from the 1st  of January 2011.  On a  pro forma basis  Solvay 2011  historical 
figures were restated in order to harmonize accounting policies among the  two 
Group Legacies.  Pro forma  results  exclude impacts  from i)  purchase  price 
allocation entries; ii) non-recurring acquisition costs related to the  Rhodia 
transaction and iii) financial revenues on cash deposits and investments.
All period changes  throughout this document  are to  be deemed on  a yoy  pro 
forma 2011 basis unless otherwise stated.

As an international  chemical group,  Solvay assists industry  in finding  and 
implementing ever more responsible and value-creating solutions. The Group  is 
firmly committed  to sustainable  development and  focused on  innovation  and 
operational excellence. Solvay serves  diversified markets, generating 90%  of 
its turnover in  activities where it  is one of  the top three  worldwide.The 
Group  is  headquartered  in  Brussels,  employs  about29,000  people  in  55 
countries and generated  12.4 billioneuros in  net sales in  2012. Solvay  SA 
SOLB.BE) is listed on NYSE Euronext in Brussels and Paris (Bloomberg:  SOLB.BB 
- Reuters: SOLBt.BR).

For further details, please contact:

Lamia Narcisse    Erik De Leye    Maria Alcon-Hidalgo Patrick Verelst
Media Relations   Media Relations Investor Relations  Investor Relations
+33 1 53 56 59 62 +32 2 264 1530  +32 2 264 1984      +32 2 264 1540

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