Solvay_FOURTH QUARTER & FULL YEAR 2016 FINANCIAL REPORT_The EBITDA margin reached a record 21%, a notable increase from 19% in 2015_by chemwinfo

• Profit for the period attributable
  to Solvay share, on an IFRS basis
  was € 621 million vs € 406 million in 2015.
  
  On an underlying basis
  it grew to € 846 million versus € 768 million in 2015.
  
  
• Underlying EBITDA grew 7.5% to € 2,284 million,
  driven by pricing power of 5.9%
  and fixed cost reduction benefits of 2.9%.
  
  Operational excellence exceeded € 200 million,
  while completion of the Cytec integration
  delivered € 70 million of synergies,
  well ahead of the initial plan.
  
  There were no significant effects
  from volume/mix changes.
  
  Foreign exchange fluctuations
  had a (1.9)% conversion effect.
  
  The EBITDA margin reached a record 21%,
  a notable increase from 19% in 2015.  
  
  
  
• Free cash flow was € 876 million,
  up € 384 million year on year.
  
  Continuing operations accounted for € 736 million,
  an increase of € 342 million, driven by
  higher EBITDA, reduced capital expenditure
  and efficient working capital management.  
  
  
• CFROI increased to 6.3%, up 0.2 percentage point
  from 6.1% pro forma in 2015 on non-restated basis. 
  
  
• Dividend increase proposed of 4.5%
  to € 3.45 gross per share for 2016,
  payable on May 16, 2017.
  
  
• Net sales fell (4.7)% to € 10.9 billion, as
  lower sales prices in a deflationary raw material
  price environment weighed (2.3)%.
  
  Foreign exchange fluctuations dented sales
  by (1.5)%.
  
  Volumes were stable overall.  
   
  
  

Jean-Pierre Clamadieu

CEO of Solvay

“Solvay delivered solid full-year EBITDA growth
 supported by our transformation
 and subsequent improvement of our customer profile.

 Our pursuit of operational excellence,
 swift delivery of synergies
 and continued pricing momentum
 have contributed strongly to our performance. 

 The upgrade of our portfolio has also enabled us
 to significantly lower our greenhouse gas intensity.
 Overall, these elements combine to enhance
 our sustainable value creation
 for both customers and shareholders.”