Dispersions & Pigments
- Sales at €4,530 million, 2% below 2015 level mostly owing to lower prices
- Considerable increase in EBIT before special items, primarily through higher margins
At €4,530 million, sales to third parties were €99 million below the level of the previous year in the Dispersions & Pigments division. Lower sales prices weighed down by an oil-price-related drop in raw material costs were the main reason behind this slight decline. We were able to slightly raise overall sales volumes.
Demand in the dispersions business developed positively, especially in Asia and Europe, but sales as a whole fell on account of price declines. Sales of resins decreased mainly as a result of lower prices. The closure of the production plant in Kankakee, Illinois, also weighed down sales; growth impetus, on the other hand, came from Europe and Asia. In the additives business, rising volumes drove an increase in sales. In July 2016, we transferred our global pigments activities to independent legal entities. Sales in this sector increased slightly thanks largely to the positive business development in Asia; by contrast, sales fell in Europe.
We considerably improved EBIT before special items in 2016, predominantly thanks to higher margins. We held fix costs at the previous year’s level through strict cost discipline. Special charges were below the level of the previous year, and were mostly related to restructuring measures. They were partly offset by gains from the disposal of the photoinitiator business.