Net sales in 2016 amounted to € 18.6 billion, an increase of 2.7% (€ 0.5 billion) compared to 2015. Adjusted for foreign currency translation effects, sales increased by 9.3%. This was mainly caused by the strong devaluation of a number of currencies against the euro compared to 2015.

At € 724 million, income from operations decreased with € 64 million compared to 2015. The results were negatively impacted by exceptional items amounting to € 100 million (2015: € 111 million negative). In 2016 the exceptional items mainly related to additional provisions for pensions deficits in the UK, a consequence of strongly declined interest rates following the Brexit voting.

In 2016, SHV’s net income amounted to € 701 million (2015: € 746 million). Considering the challenging business environment in 2016 these results are better than foreseen.

On 31 December 2016, SHV's group equity amounted to € 5.7 billion, an increase of
€ 0.5 billion compared to 2015. Total liquidity amounted to € 1.3 billion, and the net debt position was € 456 million.

More information on the results can be found in ‘SHV in 2016’.

Five year summary

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