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: