BRUSSELS, Belgium, Feb. 8, 2002 (PRIMEZONE) -- Solvay (Euronext Brussels: SOLB) (Xetra: SOL)
-- Net current earnings of EUR 403 million, down 7 % from the record
level of 2000. Second half of 2001 up 10 % from the second half
of 2000.
-- Strong growth in earnings in the Pharmaceuticals sector (up 51 %)
and Chemicals sector (up 23 %), drop in the Plastics sector
(down 70 %) and stability in Processing
-- Further implementation of the strategy for change in 2001:
-- more rapid growth in Pharmaceuticals sector earnings
-- more rapid development of Specialties (acquisition of
specialty polymers from BP and acquisition in progress of
Ausimont in fluorinated products)
The Solvay Group ended the year 2001 with net current earnings of EUR 403 million, down 7 % from the record level of 2000 (EUR 433 million). After a first half of 2001 down 18 % compared to the same period of 2000, the net current earnings for the second half of 2001 was 10 % above that of the second half of 2000, thanks to an efficient cost control, and despite the generally recognized decline in the world economy, which was worsened by the September 11 events.
The beginning of 2002 is still marked by uncertainty concerning the future performance of the world economy. The Group nevertheless should continue to benefit in 2002 from the strategy, followed for a number of years, of focusing on more rapid development in its Pharmaceuticals sector and the highest-added-value Specialties, while reinforcing its competitive position in its Essentials portfolio and its leadership in world markets.
To view the presentation of results at today's press conference: www.solvay-investors.com.
To view this release in its entirety, including tables, please click the link: www.solvay-investors.com/news/story/0,2555,--1000106-EN,00.html