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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Solvac Sa | LSE:0NNY | London | Ordinary Share | BE0003545531 | SOLVAC ORD SHS |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 134.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Investors, Nec | 6k | 127.34M | 5.9576 | 18.63 | 2.37B |
Press ReleaseEmbargo, August 3rd, 2023 after 5:40 pm
Regulated information
1st Half 2022 | 1st Half 2023 | |
Solvay dividend per share – January (in €) | 1.50 | 1.54 |
Number of Solvay shares held by Solvac (in million) | 32.6 | 32.6 |
Solvay dividend received in January (in million €) (a) | 48.9 | 50.2 |
Solvay dividend per share – May (in €) | 2.35 | 2.51 |
Number of Solvay shares held by Solvac (in million) | 32.6 | 32.6 |
Solvay dividend received in May (in million €) (b) | 76.7 | 81.9 |
Cash revenue (a) + (b)1 (in million €) | 125.6 | 132.1 |
Operating expenses (in million €) | -1.1 | -1.2 |
Other operating expenses (in million €)2 | 0.0 | -0.4 |
Cost of borrowing (in million €) | -1.5 | -1.3 |
Cash income1 (in million €) | 123.1 | 129.2 |
Solvac holds 30.81% in Solvay as of the end of June 2023, unchanged compared to December 31st, 2022. Insofar the company’s statutory accounts authorize, it is on the basis of cash income, after covering expenses, that the Board of Directors determines the amounts proposed for distribution by Solvac.
Consolidated income statement
€ million | 1st Half 2022 | 1st Half 2023 |
Income from investments accounted for under the equity method | 327.8 | 138.9 |
Operating expenses | -1.1 | -1.2 |
Other operating expense2 | 0.0 | -0.4 |
Cost of borrowings | -1.4 | -1.3 |
Net income | 325.3 | 136.0 |
Net income and diluted earnings per share (€)3 | 15.2 | 6.4 |
1 Solvac uses certain non-IFRS performance indicators that are defined here:
2.The expenses for the studies and the analysis of the separation project prepared by Solvay ; these expenses mainly consist of external services delivered by financial and juridical advisors. 3.The net income per share and the net diluted income per share are identical. The average weighted number of shares used for the calculation per share was 21,375,033 in June 2023 and in 2022
On June 30th, 2023 Solvac recorded a net consolidated income of €136.0 million (namely, €6.4 per share) versus€325.3 million (namely, €15.2 per share) in the same period in 2022, as a result of the evolution in the equity method applied to Solvay’s results, based on IFRS.
It should be noted that the underlying profit for the period attributed to Solvay shareholders increased by 5.6%, from €839 million to €886 million
€ million | 1st Half 2022 | 1st Half 2023 |
Financial result | 75.2 | 80.6 |
Operating result | -1.0 | -1.2 |
Non-recurrent result | 0.0 | -0.4 |
Profit before tax | 74.2 | 79.0 |
Profit after tax | 74.2 | 79.0 |
The net income after tax is €79.0 million, up by 6.4% compared to the result at the 1st half 2022 (€74.2 million) due to the increase of the unit dividend obtained from Solvay.
The net amount of the first interim dividend settles at €2.345, after deduction of a withholding tax of 30%(1). This first interim dividend will be paid on August 24, 2023 and will lead to a gross distribution of €71,6 million. The Solvac shares will trade ex-dividend on Euronext Brussels, from Friday August 11, 2023 and transactions must be notified to us on Wednesday August 16, 2023 at the latest. Any transaction not registered on this date must be recovered (purchase) or returned (sale) by the financial intermediary who executed the transaction.
The second interim dividend which will be decided by the Board, will be released on December 14, 2023 and will be paid on December 29, 2023.
With an unchanged dividend policy, Solvay's interim dividend which would be decided in November should increase following the increase of €0.20 gross per share in Solvay's total ex-22 dividend.
In line with its policy of distributing substantially all of Solvay's dividends after deducting its costs and financial charges, the Board of Directors is expected to decide in December to increase the total dividend for the 2023 financial year to €5.81 gross per share. Such a distribution would result in a cash outflow in 2023 of €124.2 million.
The second interim payment should therefore amount to €2.46 gross per share, i.e. €1.722 net per share (after deduction of the withholding tax of 30%).
Content
This press release contains regulated information and is prepared in accordance with the IAS 34 standard “Interim Financial Statements”. The analysis of risk management is presented in the annual report, available on the Internet (www.solvac.be). There are no changes in the identification of risks on June 30th 2023 compared to December 31st, 2022.
Solvac Shares
December 2022 | June 2023 | |
Number of shares outstanding at end of period | 21,375,033 | 21,375,033 |
Average number of shares for calculating results per share according to IFRS | 21,375,033 | 21,375,033 |
Average number of shares for calculating diluted results per share according to IFRS | 21,375,033 | 21,375,033 |
Mr Jean Marie Solvay, Chairman of the Board of Directors, and Mr Melchior de Vogüé, member of the Board of Directors declare that to their knowledge:
Key financial reporting dates
For more information, please contact:
SOLVAC S.A.
Investor RelationsRue des Champs Elysées, 43 - 1050 Brussels Tel.: 32/2/639 66 30Fax: 32/2/639 66 31Email: Investor.relations@solvac.be
Dit persbericht is ook in het Nederlands beschikbaar - Ce communiqué de presse est également disponible en français
Attachment
1 Year Solvac Chart |
1 Month Solvac Chart |
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