1st Half 2009
- Decline in sales and earnings in all regions
- Substantial decline in earnings in almost all segments in Europe;
Agricultural Solutions at the same level as in the previous year - Earnings improve in North America over the course of the first half year
- Slight recovery in demand in Asia Pacific
- Higher earnings in Agricultural Solutions in South America, Africa, Middle East
In Europe, sales fell by 23% in the first half of the year. Earnings decreased significantly by €2,224 million to €1,493 million. Due to weak demand and falling prices, sales and earnings fell in almost all segments. We recorded a slight increase in sales in Performance Products as a result of the inclusion of the Ciba businesses. Sales and earnings in Agricultural Solutions were at the same level as in the first half of the previous year. This segment made a major contribution to earnings.
In the first half of the year, sales in North America decreased by 34% in dollar terms and by 25% in euro terms. Overall earnings declined by €188 million to €255 million, due to the weak first quarter in almost all segments. Earnings in the second quarter were slightly higher than in the same period of the previous year. Agricultural Solutions recorded an increase in earnings thanks to higher margins.
 Download ( xls, 18 kB) |
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Overview of regions (million €) |
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Sales |
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Sales |
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EBIT | ||||||
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2009 |
2008 |
Change |
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2009 |
2008 |
Change |
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2009 |
2008 |
Change |
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2nd Quarter |
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Europe |
7,296 |
9,881 |
(26) |
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6,749 |
9,382 |
(28) |
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696 |
1,931 |
(64) |
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Thereof Germany |
5,031 |
6,873 |
(27) |
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2,350 |
3,405 |
(31) |
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446 |
1,437 |
(69) |
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North America |
2,562 |
3,382 |
(24) |
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2,621 |
3,349 |
(22) |
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184 |
174 |
6 |
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Asia Pacific |
1,994 |
2,337 |
(15) |
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2,220 |
2,540 |
(13) |
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193 |
231 |
(16) |
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South America, Africa, Middle East |
650 |
705 |
(8) |
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912 |
1,034 |
(12) |
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67 |
72 |
(7) |
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12,502 |
16,305 |
(23) |
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12,502 |
16,305 |
(23) |
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1,140 |
2,408 |
(53) |
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1st Half |
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Europe |
15,303 |
19,961 |
(23) |
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14,393 |
18,979 |
(24) |
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1,493 |
3,717 |
(60) |
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Thereof Germany |
11,096 |
14,101 |
(21) |
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5,589 |
7,180 |
(22) |
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872 |
2,797 |
(69) |
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North America |
4,701 |
6,284 |
(25) |
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4,780 |
6,226 |
(23) |
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255 |
443 |
(42) |
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Asia Pacific |
3,475 |
4,589 |
(24) |
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3,829 |
4,952 |
(23) |
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246 |
454 |
(46) |
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South America, Africa, Middle East |
1,242 |
1,392 |
(11) |
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1,719 |
2,069 |
(17) |
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131 |
148 |
(11) |
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24,721 |
32,226 |
(23) |
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24,721 |
32,226 |
(23) |
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2,125 |
4,762 |
(55) |
In Asia Pacific, sales decreased by 32% in local currency terms and by 24% in euro terms. Earnings fell substantially by €208 million to €246 million. The decline in earnings affected almost all segments and was due in particular to the sharp fall in our customers’ export business. Earnings in Agricultural Solutions increased thanks to rising demand in China and India. Overall, demand in this region improved in the second quarter.
Sales in South America, Africa, Middle East decreased by 11% in local currency and euro terms. Earnings declined by €17 million to €131 million. Together with Chemicals and Oil & Gas, the Performance Products segment was also affected by the decline in earnings due to the weak textile and leather chemicals business. In contrast, Agricultural Solutions was able to further increase earnings.
