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Special items in income from operations

Income from operations

  • Special income from divestiture of fertilizer business
  • Lower special charges for integration costs
  • Significant premium earned once again on cost of capital

The positive balance of special items in income from operations fell from €139 million in 2011 to €95 million in 2012. In both years, disposal gains had a positive effect: In 2012, this resulted from the divestiture of our fertilizer business, and in the previous year from the transfer of our styrenic plastics business to the Styrolution joint venture. The divestiture of various other businesses led to special charges totaling €40 million in 2012 (2011: €86 million).

Special charges for various restructuring measures amounted to €273 million in 2012, representing an increase of €92 million compared with the previous year.

In 2012, special charges of €2 million arose from the integration of newly acquired businesses, after special charges of €240 million had been incurred in 2011, primarily for the Cognis integration.

Furthermore, other special charges totaling €235 million mainly include impairment charges on an oil field development project in Norway. In the previous year, special income of €53 million had resulted in particular from the settlement of legal disputes.

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Special items (million €)

 

2012

2011

Integration costs

(2)

(240)

Restructuring measures

(273)

(181)

Divestitures

605

507

Other charges and income

(235)

53

Total reported in EBIT

95

139

Special items reported in financial result

(88)

829

Total reported in income before taxes

7

968