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2014-04-07

Solvay S.A.: Solvay applies new IFRS reporting standards in 2014 and restates 2013 financials accordingly

Highlights:

* IFRS 10, 11 and 12 adopted since January 1st 2014
* Accordingly, restated figures for 2013 for comparison purposes
* Outlook for 2014 and financial objectives for 2016 unchanged

Brussels, April 7, 2014 --- Solvay publishes today restated financial figures
for 2013 due to the application of the new International Financial Reporting
Standards (IFRS) 10 (Consolidated Financial Statements), 11 (Joint
Arrangements) and 12 (Disclosures of Interests in Other Entities). The Group
is applying these new standards effective since January 1, 2014.

Solvay's restated figures for 2013 provide a basis for comparison for its
upcoming first quarter results for 2014, which will be published on May 6,
and for subsequent periods.

Furthermore, the restated figures reflect the changes in the Group Segment
information consisting in the split of Solvay's Global Business Unit (GBU)
Essential Chemicals into two GBUs: Soda Ash&Derivatives and Peroxides also
effective since January 1, 2014.

The application of IFRS 10 does not lead to a change in scope of fully
consolidated entities for the Solvay Group.

Application of IFRS 11 has led to a change in consolidation scope of some
joint arrangements that qualify as joint operations, and therefore will now
be proportionally consolidated, which previously were accounted for by using
the equity method. The change in consolidation scope impacts the following
activities:

Soda Ash&Derivatives operations/interests in Devnya (Bulgaria), 75% held by
Solvay and comprising the following legal entities:

* Deven AD;
* Solvay Sodi AD;
* Solvay Sisecam Holding AG;

Hydrogen Peroxide Propylene Oxide (HPPO) operations/interests in Zandvliet
(Belgium), Map Ta Put (Thailand) and the HPPO plant that is being constructed
in the Kingdom of Saudi Arabia, all 50% held by the Solvay Group and
comprising the following legal entities:

* BASF Interox H2O2 Production NV;
* MTP HPJV C.V.;
* MTP HPJV Management B.V.;
* MTP HPJV (Thailand) Ltd.;
* Saudi Hydrogen Peroxide Co.;

Overall, the application of IFRS 11 does not impact reported 2013 Solvay Group
Net Income but, there are impacts at the following levels:

On the Full Year 2013 Income Statement (fully ascribed to the Essential
Chemicals GBU):

* net sales: + € 65 million
* REBITDA: + € 41 million
* underlying tax rate: 34% vs 36% before restatement

On the Full Year 2013 Cash Flow Statement

* Capex: + € 57 million
* Free Cash Flow: - € 37 million

On the Balance Sheet as of December 31, 2013

* Net Debt: increase of € 40 million

Outlook for 2014 and financial objectives for 2016 unchanged
These accounting restatements had been taken into account in the formulation
of Solvay's previous profit outlook statements for 2014 and 2016

Further information and 2013 restated figures can be found on our website
under the following link:

http://www.solvay.com/en/investors/index.html

Solvay seeks to give, as much as possible, advance notice of future
restatements. Apart from further changes in IFRS, the Group only anticipates
significant future portfolio changes to impact the presentation of the
results.

The first quarter 2014 earnings will be released on May 6, 2014.

Follow us on twitter @SolvayGroup

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|As an international chemical group, Solvay assists industries in finding and |
|implementing ever more responsible and value-creating solutions. Solvay |
|generates 90% of its net sales in activities where it is among the world's |
|top three players. It serves many markets, varying from energy and the |
|environment to automotive and aerospace or electricity and electronics, with |
|one goal: to raise the performance of its clients and improve society's |
|quality of life. The group is headquartered in Brussels, employs about 29,400 |
|people in 55 countries and generated 9.9 billion euros in net sales in 2013. |
|Solvay SA SOLB.BE) is listed on NYSE Euronext in Brussels and Paris |
|(Bloomberg: SOLB.BB - Reuters: SOLBt.BR). |
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|Lamia Narcisse Caroline Jacobs Maria Alcon Geoffroy Raskin Edward Mackay |
| |
|Media Relations Media Relations Investor Relations Investor Relations Investor Relations |
|+33 1 53 56 59 62 +32 2 264 1530 +32 2 264 1984 +32 2 264 1540 +32 2 264 3687 |
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You can find here the press release with all the annexes
http://hugin.info/133981/R/1774581/605200.pdf

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Solvay S.A. via Globenewswire

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