- Sales improve by €57 million to €2,984 million through higher volumes and prices
- Considerable earnings increase, mostly as a result of higher sales volumes for OEM coatings
In the Coatings division, sales to third parties in 2014 rose by €57 million to €2,984 million. We were able to more than offset negative currency and portfolio effects with higher volumes and prices (volumes 4%, prices 3%, portfolio −1%, currencies −4%). Sales volumes grew in Asia, North America and Europe, whereas they declined slightly in South America. We particularly raised our prices for decorative paints and automotive refinish coatings.
Our business with OEM coatings developed very successfully thanks to growing demand in Asia, North America and Europe. For automotive refinish coatings, we were able to partly compensate for weaker demand in South America and negative currency effects by raising sales prices. A considerable sales increase in the industrial coatings business area was particularly buoyed by higher volumes, which arose mainly from greater demand for coil coatings as well as for rotor blade coatings for wind turbines. In the decorative paints business, sales declined slightly despite increased demand and higher sales prices. This was largely on account of negative currency effects in Brazil and the divestiture of the business in Argentina.
Income from operations before special items grew considerably, mainly owing to higher sales volumes for OEM coatings.