Results of operations

The market environment was volatile and challenging in 2014. Growth rates for the global economy, industrial production and the chemical industry all lagged behind our expectations, largely influenced by growing geopolitical tensions and the uncertainty triggered by them. Despite these conditions, our business developed successfully overall.

Sales and earnings (in million €)

 

 

 

2014

2013

Change in %

Sales

 

 

74,326

73,973

0.5

Income from operations before depreciation and amortization (EBITDA)

 

 

11,043

10,432

5.9

EBITDA margin

 

%

14.9

14.1

Income from operations (EBIT) before special items

 

 

7,357

7,077

4.0

Income from operations (EBIT)

 

 

7,626

7,160

6.5

Financial result

 

 

(423)

(560)

24.5

Income before taxes and minority interests

 

 

7,203

6,600

9.1

Income before minority interests

 

 

5,492

5,113

7.4

Net income

 

 

5,155

4,792

7.6

Earnings per share

 

5.61

5.22

7.5

Adjusted earnings per share

 

5.44

5.31

2.4

Sales and earnings by quarter in 20141 (in million €)

 

 

 

1st quarter

2nd quarter

3rd quarter

4th quarter

Full year

1

Quarterly results not audited

Sales

 

 

19,512

18,455

18,312

18,047

74,326

Income from operations before depreciation and amortization (EBITDA)

 

 

2,951

2,705

2,514

2,873

11,043

Income from operations (EBIT) before special items

 

 

2,112

2,012

1,774

1,459

7,357

Income from operations (EBIT)

 

 

2,221

1,933

1,742

1,730

7,626

Financial result

 

 

(183)

(136)

(169)

65

(423)

Income before taxes and minority interests

 

 

2,038

1,797

1,573

1,795

7,203

Net income

 

 

1,464

1,259

1,014

1,418

5,155

Earnings per share

 

1.59

1.37

1.11

1.54

5.61

Adjusted earnings per share

 

1.63

1.53

1.24

1.04

5.44

Sales and earnings by quarter in 20131 (in million €)

 

 

 

1st quarter

2nd quarter

3rd quarter

4th quarter

Full year

1

Quarterly results not audited

Sales

 

 

19,738

18,353

17,733

18,149

73,973

Income from operations before depreciation and amortization (EBITDA)

 

 

2,854

2,490

2,496

2,592

10,432

Income from operations (EBIT) before special items

 

 

2,186

1,803

1,669

1,419

7,077

Income from operations (EBIT)

 

 

2,141

1,744

1,659

1,616

7,160

Financial result

 

 

(126)

(162)

(167)

(105)

(560)

Income before taxes and minority interests

 

 

2,015

1,582

1,492

1,511

6,600

Net income

 

 

1,434

1,144

1,086

1,128

4,792

Earnings per share

 

1.56

1.25

1.18

1.23

5.22

Adjusted earnings per share

 

1.65

1.39

1.27

1.00

5.31