- Sales decrease by 6% to €5,745 million, mainly on account of lower prices
- EBIT before special items considerably higher as a result of increased isocyanate margins
In the Monomers division, sales to third parties declined by €348 million to €5,745 million in 2016. This was basically the result of lower sales prices brought about by a drop in raw material costs, which particularly weighed down sales in the polyamide value chain. By contrast, prices increased for isocyanates.
Volumes growth for isocyanates was able to more than compensate for the decline in the caprolactam business; sales volumes grew slightly as a result.
Increased margins for isocyanates, particularly in the fourth quarter of 2016, led to a considerable increase in EBIT before special items. They were able to more than offset lower margins in the polyamide value chain as well as the higher fixed costs arising from the startup of new production plants. Special charges came mainly from the overhaul of caprolactam production in Europe.
In August 2016, we began production at the TDI complex in Ludwigshafen, Germany, and started supplying customers for the first time. The plant’s gradual startup had begun in November 2015. Owing to a technical defect in November 2016, the TDI plant was still undergoing repair at the time of this report’s publication.