- Sales decline by €48 million to €6,337 million due to lower prices
- Earnings down considerably as a result of competitive pressure and weaker margins in Asia
Sales to third parties in the Monomers division fell by €48 million to €6,337 million compared with 2013 (volumes 2%, prices −3%, currencies 0%). Reduced sales prices in Asia led to sales declines for polyamides and isocyanates. In both value chains, higher volumes were partly able to compensate for the negative price developments.
We raised sales volumes of MDI, especially in Europe and Asia. In the polyamides business, we observed sharp volumes growth for polyamide-6 extrusion polymers, particularly in Asia.
Additional MDI, TDI and caprolactam capacities led to intensified competitive pressure and lower margins in Asia. Income from operations before special items therefore declined considerably. Fixed costs remained at the prior-year level despite higher spending on research and costs for both the new TDI complex in Ludwigshafen and the MDI plant in Chongqing, China.