Although the year 2020 came with substantial challenges, Solvay’s governance practices, risk management, business review, economic, environmental, social and financial performance for 2020 showcased the breadth and depth of Solvay’s strengths.

“I’m so proud of what our team was able to accomplish in 2020: we delivered record free cash flow, achieved significant cost savings and made great strides on our Solvay One Planet commitments,” Ilham Kadri, CEO, Solvay, said.

“2020 was the year that we brought our Purpose – to bond people, ideas and elements to reinvent progress – to life. We demonstrated that we were essential to the world and we actually capitalized on the crisis, accelerating reforms to unleash our company’s full potential. Today, I can proudly assert that we have emerged stronger.”

As a leader in providing solutions to some of the world’s most pressing needs, in 2020 Solvay was able to supply numerous products to help manage the pandemic. The company continued to address increasing needs to: conserve scarce resources, ramp up hyper-connectivity, support mobility, prioritize clean sources of energy, enabled more efficient, cleaner product manufacturing and increase agricultural yields.

Solvay accomplished all this while moving toward a low-carbon and more inclusive global economy.

Sustainability is integrated in all our key strategic decisions, including research and innovation, capital expenditure, M&A activities and investment decisions.

In 2020, Solvay took numerous significant steps to align our core products, services, and competencies with the most rapidly growing markets, regulatory, policy, and scientific demands, including: launching two virus fighting innovations, which helped prevent the spread of COVID-19, adding a Key Accounts Program that is generating new business from our largest clients, while renewing long-term aerospace contracts, providing advanced materials to support growing demand for hyper-connectivity, supporting the semiconductor sector with key chemicals and materials, supplying polymers for new generation OLED and flexible displays, launching green hydrogen platform and positioning Solvay as a sustainable company.