Solvay's 2008 operating result was posted at EUR 965M, down by 19% compared to the record result of 2007. Q4 was affected by the economic crisis & inventory depreciation. Sales for 2008 were EUR 9,490M, slightly lower compared to 2007 (+1% at constant exchange rates); Decrease of 4% in Q4. Pharmaceuticals (+11%): Record operating result due to growth in sales of the principal products and geographic expansion Chemicals (-31%) and Plastics (-40%): Significant increase in energy and raw materials costs, partially compensated by increases in sales prices; Q4 marked by a strong contraction in demand & by significant inventory depreciation, mainly in Plastics. Net income of Group for 2008 was EUR 449M (-46%), impacted by adjustments to book values, of which for holdings in Fortis, for an amount of EUR -309M.
