Increase of 4.1 % of the dividend per share in 2023 compared to 2022

Press Release
Inside/regulated information

March 14, 2024, after 5.40 PM

1. The 2023 dividend of € 5.81 per share is increasing by 4.1 % compared to 2022.
2. The cash revenue¹, powered by the inflow of dividends from its participation in Solvay, came to € 132.1 million higher than the 2022 revenue (€ 125.6 million) and is increasing compared to last year thanks to the rise of the Solvay dividend per share, as shown in the table below:

	2022	2023
Solvay dividend per share – January (in EUR)	1.50	1.54
Number of Solvay shares held by Solvac (in million)	32.6	32.6
Solvay dividend received in January (in million EUR) (a)	48.9	50.2
Solvay dividend per share – May (in EUR)	2.35	2.51
Number of Solvay shares held by Solvac (in million)	32.6	32.6
Solvay dividend received in May (in million EUR) (b)	76.7	81.9
Cash revenue (a) + (b)1 (in million EUR)	125.6	132.1
Administrative costs	-2,0	-2.5
Other Operational Costs	0,0	-2.2
Cost of borrowing	-2.9	-3.1
Cash income1 (in million EUR)	120.7	124.3

Insofar as the company statutory accounts authorise, it is on the basis of cash income¹, that the Board of Directors determines the dividend amounts proposed for distribution by Solvac.

3. Modification of the financial reporting framework.

Solvac holds a stake in Solvay and Syensqo and exercises significant influence over their direction.
The Board of Directors has decided to publish Solvac's financial statements as of December 31, 2023 exclusively according to the framework of Belgian accounting law while enriching it with additional notes useful for the good understanding of its activity by all stakeholders.
Until now, Solvac presented its financial statements according to both the IFRS framework and the Belgian accounting law framework. The presentation according to the IFRS framework was published on a voluntary basis and did not result from any legal or regulatory obligation.