Regions

1st Quarter 2017

Sales at companies located in Europe grew by 17% compared with the first quarter of 2016. This was mainly the result of substantially higher volumes and prices. We were able to significantly increase sales volumes in all segments of the chemicals business¹ as well as in the Oil & Gas segment. Prices especially boosted sales development in the Chemicals segment. At €1,421 million, income from operations exceeded the level of the previous first quarter by €260 million, primarily because of the considerable increase in the chemicals business and in the Oil & Gas segment.

In North America, sales improved year-on-year by 13% in local currency terms and 16% in euros. The main drivers here were higher sales prices and volumes, especially in the Chemicals segment. The greater contribution from the Chemicals segment led to a €69 million increase in income from operations, to €513 million.

Sales in Asia Pacific rose by 26% in local currency terms and 29% in euros. All segments were able to substantially improve their volumes, and prices rose sharply in the Chemicals segment in particular. We raised income from operations by €297 million to €496 million compared with the first quarter of 2016. This was due to the sharp increase in the Chemicals segment.

In South America, Africa, Middle East, sales in euros saw a primarily currency-related increase of 8%. In local currency terms, sales were down by 3%. Volumes especially declined in the Functional Materials & Solutions segment, while sales prices rose overall. At €21 million, income from operations was €41 million short of the previous first quarter’s level. All segments except for Chemicals posted a decline.