- Sales fall, particularly as a result of price and volume- related lower contribution from precious metal trading
- Earnings decline, especially because of higher raw material costs and costs for new Battery Materials unit
- Outlook 2013: significant sales growth; earnings considerably above previous year’s level
Catalysts – Sales by region
(Location of customer)
Compared with the previous year, sales in the Catalysts division decreased by €196 million to €6,184 million (volumes –5%, prices –7%, portfolio 4%, currencies 5%). This was particularly due to the reduced contribution from precious metal trading as a result of lower prices and volumes. By contrast, acquisitions to expand our new Battery Materials business unit had a positive effect on sales.
We were able to increase sales volumes for our mobile emissions catalysts, primarily in Asia Pacific and North America. By contrast, volumes fell in Europe owing to the weak economy. While demand for cars declined significantly in Europe, it grew in North and South America as well as in the emerging markets of Asia. Demand remained high for heavy duty diesel-engine vehicles in Europe and North America.
Sales increased significantly for chemical catalysts, which was primarily attributable to greater demand and positive currency effects.
Sales in precious metal trading fell by €316 million due to lower prices and volumes, amounting to €2,544 million.
Despite the overall favorable market environment and increases in our productivity, income from operations declined in 2012. This was predominantly due to higher raw material costs and costs for the new Battery Materials business unit.
We expect to significantly raise sales in 2013. This growth will likely be boosted by higher demand from the automotive and chemical industries. Furthermore, we assume prices will increase for precious and base metals. Our programs for improving operational excellence will continue to help reduce our costs and improve efficiency. We aim to significantly exceed the earnings level of 2012.