- Currency and portfolio-related sales decline of €60 million to €2,060 million
- Slight dip in earnings, especially due to currency effects
In the Construction Chemicals division, sales to third parties fell by €60 million year-on-year to €2,060 million. This was mostly because of negative currency effects as well as divestitures. Higher volumes and prices slowed the sales decline (volumes 2%, prices 1%, portfolio −3%, currencies −3%).
Sales in Europe fell considerably as a result of portfolio and currency effects. The portfolio effects came essentially from divestitures undertaken as part of our efficiency measures in Germany. Sharply negative currency effects were observed in Turkey and Russia. Weighed down by currencies, sales in Asia were just below the prior year’s level. With prices slightly higher, we were able to considerably increase sales volumes, primarily in India. Stronger demand and stable prices led to a slight rise in sales in North America compared with 2013, despite negative currency influences. In the region South America, Africa, Middle East, we were able to considerably exceed the sales of the previous year due to positive portfolio effects as well as higher volumes and prices.
Income from operations before special items was slightly down compared with 2013, due especially to currency effects. Special charges rose because of the impairment of intangible assets.