General
Information
Last Update:
March 1, 2012
Seitenende

Business review

In the Chemicals segment, we increased sales to third parties in 2011 by €1,581 million to reach €12,958 million. This significant growth was primarily attributable to higher raw material prices, which we were able to pass on in almost all business areas (volumes –1%, prices 16%, portfolio 2%, currencies –3%). Income from operations grew by €132 million to reach €2,442 million. Our programs to reduce costs and increase efficiency contributed to this earnings growth.

Sales – Chemicals
(million €)

Income from operations – Chemicals
(million €)

Sales by division

Factors influencing sales – Chemicals

We expect sales in 2012 to be higher than in the previous year. Additional capacities will increase pressure on margins, especially for cracker products. Earnings are not expected to match the level of 2011.

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Segment data Chemicals (million €)

 

 

 

2011

2010

Change
in %

Sales to third parties

 

12,958

11,377

13.9

Thereof Inorganics

 

1,415

1,255

12.7

Petrochemicals

 

8,839

7,593

16.4

Intermediates

 

2,704

2,529

6.9

Intersegmental transfers

 

6,295

5,476

15.0

Sales including intersegmental transfers

 

19,253

16,853

14.2

Income from operations before depreciation and amortization (EBITDA)

 

3,188

3,000

6.3

EBITDA margin

%

24.6

26.4

Income from operations (EBIT) before special items

 

2,441

2,302

6.0

Income from operations (EBIT)

 

2,442

2,310

5.7

Income from operations (EBIT) after cost of capital

 

1,686

1,722

(2.1)

Assets

 

6,920

6,526

6.0

Research and development expenses

 

132

130

1.5

Additions to property, plant and equipment and intangible assets

 

622

535

16.3

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