Solvay announces financial results

Solvay has announced its financial results for its 2007 fiscal year, with the company reporting recording operating results for the period of 1.2 billion euros, a rise of nine per cent on the figure for 2006.

Revenues rose two per cent during the year, up to 9.6 billion euros, while net income rose by one per cent on last year’s record figures to reach 828 million euros.

In the pharmaceutical sector, sales were comparable to the figures for 2006 at 2.6 billion euros, with these results impacted by the unfavourable exchange rate with the dollar.

Revenues in the sector saw a three per cent rise on the previous year’s figures when measured at constant exchange rates.

“The record results of 2007 are the fruit of our strategy of sustainable and profitable growth which we will continue,” the company said.

“At the start of the year 2008, the business context on our main markets remains favourable and we remain attentive to the volatile evolution of global macroeconomic conditions.”

Solvay added that 2007 had seen the strong performance of flu vaccines, Androgel and fenofibrates in conjunction with growth in emerging countries.

In November 2007, Solvay announced the expansion of its partnership agreement with Wyeth Pharmaceuticals to include neuroscience research.