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

EBITDA margin

%

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

1

Quarterly results not audited

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