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Format: PDF investor_presentation
Solvay investor presentation dated November 2019.
November 7, 2019Q3 2019 ResultsFORENOTE
2November 7, 20199 Months 2019 ResultsIFRS 16hasbeen implemented intheGroup’s financial statements since January 1,2019 .Comparative information forthe
firstquarter of2018 inthebusiness review ispresented onanunaudited proforma basis asiftheimplementation hadtaken
place onJanuary 1,2018 .This information islabelled “pro forma” or“PF”.The balance sheet evolution iscompared with
January 1,2019 ,which includes theIFRS 16impact versus December 31,2018 .
Besides IFRS accounts, Solvay also presents underlying Income Statement performance indicators toprovide amore
consistent andcomparable indication oftheGroup’s financial performance .The underlying performance indicators adjust
IFRS figures forthenon-cash Purchase Price Allocation (PPA) accounting impacts related toacquisitions, forthecoupons of
perpetual hybrid bonds, classified asequity under IFRS buttreated asdebt intheunderlying statements, and forother
elements thatwould distort theanalysis oftheGroup’s underlying performance .
Focus on cost, cash and customers in a challenging macro environment
3November 7, 20199 Months 2019 ResultsNet Sales Underlying EBITDAFree Cash Flow
to Solvay shareholders
-0.7% Y/Y organically
+1.6% including forex & scope€1,796 M
-2.6% Y/Y organically
-0.2% inclu ding forex & scope€345 M
from continued operations
Volumes impacted by headwinds
in automotive, electronics
and oil & gasPositive net pricing and forex
offset lower volumes, higher raw
materials and fixed costs
Sustained margin at 23%Disciplined working capital
-2.7% Y/Y organically
-0.5% including forex & scope€601 M
-1.8% Y/Y organically
+0.4% including forex & scope€313 M
from continued operations9M 2019 PERFORMANCE
•Aerospace market growth trends
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