Results of operations
Growth in both the world economy and industrial production was slower in 2013 than in the previous year. In this challenging environment, our business developed solidly overall. Sales rose by just under 3% to reach €73,973 million. A considerable, volumes-driven sales increase in the Oil & Gas and Agricultural Solutions segments was largely responsible for this development. Sales slightly declined in the chemicals business1 despite higher sales volumes. This was mainly on account of negative currency effects.
Income from operations before special items rose by around 8% to €7,190 million. In addition to our successful business with crop protection products and a higher contribution from the Functional Materials & Solutions segment, this increase was also due in large part to the earnings improvement in Other.
1 Our chemicals business includes the Chemicals, Performance Products and Functional Materials & Solutions segments.
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|
Sales and earnings (million €) | ||||
|---|---|---|---|---|
|
|
|
2013 |
2012 |
Change in % |
|
Sales |
73,973 |
72,129 |
2.6 |
|
|
Income from operations before depreciation and amortization (EBITDA) |
10,427 |
10,009 |
4.2 |
|
|
% |
14.1 |
13.9 |
– |
|
|
Income from operations (EBIT) before special items |
7,190 |
6,647 |
8.2 |
|
|
Income from operations (EBIT) |
7,273 |
6,742 |
7.9 |
|
|
Financial result |
(560) |
(765) |
26.8 |
|
|
Income before taxes and minority interests |
6,713 |
5,977 |
12.3 |
|
|
Income before minority interests |
5,173 |
5,067 |
2.1 |
|
|
Net income |
4,842 |
4,819 |
0.5 |
|
|
Earnings per share |
€ |
5.27 |
5.25 |
0.4 |
|
Adjusted earnings per share |
€ |
5.37 |
5.64 |
(4.8) |
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|
Sales and earnings by quarter 20131 (million €) | ||||||
|---|---|---|---|---|---|---|
|
|
|
1st quarter |
2nd quarter |
3rd quarter |
4th quarter |
2013 |
|
Sales |
|
19,738 |
18,353 |
17,733 |
18,149 |
73,973 |
|
Income from operations before depreciation and amortization (EBITDA) |
2,854 |
2,489 |
2,494 |
2,590 |
10,427 |
|
|
Income from operations (EBIT) before special items |
2,214 |
1,832 |
1,692 |
1,452 |
7,190 |
|
|
Income from operations (EBIT) |
|
2,169 |
1,773 |
1,682 |
1,649 |
7,273 |
|
Financial result |
|
(126) |
(162) |
(167) |
(105) |
(560) |
|
Income before taxes and minority interests |
|
2,043 |
1,611 |
1,515 |
1,544 |
6,713 |
|
Net income |
|
1,446 |
1,157 |
1,096 |
1,143 |
4,842 |
|
Earnings per share |
€ |
1.57 |
1.26 |
1.20 |
1.24 |
5.27 |
|
Adjusted earnings per share |
€ |
1.67 |
1.40 |
1.28 |
1.02 |
5.37 |
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|
Sales and earnings by quarter 20121 (million €) | ||||||||
|---|---|---|---|---|---|---|---|---|
|
|
|
1st quarter |
2nd quarter |
3rd quarter |
4th quarter |
2013 | ||
|
||||||||
|
Sales |
|
18,840 |
17,836 |
17,472 |
17,981 |
72,129 |
||
|
Income from operations before depreciation and amortization (EBITDA) |
3,304 |
2,510 |
2,141 |
2,054 |
10,009 |
|||
|
Income from operations (EBIT) before special items |
2,010 |
1,937 |
1,471 |
1,229 |
6,647 |
|||
|
Income from operations (EBIT) |
|
2,598 |
1,676 |
1,403 |
1,065 |
6,742 |
||
|
Financial result |
|
(158) |
(145) |
(175) |
(287) |
(765) |
||
|
Income before taxes and minority interests |
|
2,440 |
1,531 |
1,228 |
778 |
5,977 |
||
|
Net income |
|
1,703 |
1,208 |
925 |
983 |
4,819 |
||
|
Earnings per share |
€ |
1.85 |
1.32 |
1.01 |
1.07 |
5.25 |
||
|
Adjusted earnings per share |
€ |
1.54 |
1.59 |
1.16 |
1.35 |
5.64 |
||