Regional Results
|
Regions (million €) | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
|
|
Sales |
Sales |
EBIT | ||||||||
|
|
|
2015 |
2014 |
Change % |
2015 |
2014 |
Change % |
2015 |
2014 |
Change % | ||
|
||||||||||||
|
3rd quarter |
|
|
|
|
|
|
|
|
|
|
||
|
Europe |
|
9,676 |
10,303 |
(6) |
9,422 |
9,782 |
(4) |
1,079 |
1,062 |
2 |
||
|
Thereof Germany |
|
7,344 |
7,921 |
(7) |
3,421 |
4,062 |
(16) |
426 |
592 |
(28) |
||
|
North America |
|
3,645 |
3,697 |
(1) |
3,399 |
3,688 |
(8) |
297 |
342 |
(13) |
||
|
Asia Pacific |
|
2,813 |
3,024 |
(7) |
2,932 |
3,192 |
(8) |
70 |
173 |
(60) |
||
|
South America, Africa, Middle East |
|
1,290 |
1,288 |
0 |
1,671 |
1,650 |
1 |
157 |
197 |
(20) |
||
|
|
|
17,424 |
18,312 |
(5) |
17,424 |
18,312 |
(5) |
1,603 |
1,774 |
(10) |
||
|
January – September |
|
|
|
|
|
|
|
|
|
|
||
|
Europe |
|
32,295 |
32,685 |
(1) |
30,909 |
31,169 |
(1) |
3,942 |
3,798 |
4 |
||
|
Thereof Germany |
|
24,067 |
24,366 |
(1) |
11,711 |
11,232 |
4 |
1,775 |
1,761 |
1 |
||
|
North America |
|
12,182 |
11,756 |
4 |
11,975 |
11,603 |
3 |
1,201 |
1,299 |
(8) |
||
|
Asia Pacific |
|
8,841 |
8,733 |
1 |
9,313 |
9,282 |
0 |
307 |
519 |
(41) |
||
|
South America, Africa, Middle East |
|
3,251 |
3,105 |
5 |
4,372 |
4,225 |
3 |
266 |
282 |
(6) |
||
|
|
|
56,569 |
56,279 |
1 |
56,569 |
56,279 |
1 |
5,716 |
5,898 |
(3) |
||
3rd Quarter 2015
Sales at companies located in Europe decreased by 6% compared with the third quarter of 2014. In the chemicals business2 and the Oil & Gas segment, lower prices particularly reduced sales. Despite the earnings decline in the Oil & Gas segment, income from operations before special items surpassed the previous third quarter’s level by €17 million, amounting to €1,079 million. This was mainly the result of a considerable earnings increase in the Chemicals segment.
In North America, lower raw material costs significantly reduced prices in the chemicals business, especially in the Petrochemicals division. The result was a drop in sales of 17% in local currency terms and 1% in euros. Partially countering this development was a sharp volumes increase in the Agricultural Solutions segment, along with positive currency effects. At €297 million, earnings were €45 million below the level of the previous third quarter. While we were able to considerably improve earnings in the Functional Materials & Solutions segment, earnings fell considerably in the Chemicals segment.
Sales in Asia Pacific dropped by 17% in local currency terms and by 7% in euro terms. Sales prices fell, especially in the Chemicals segment. Lower volumes and the disposal of our share in the Singapore-based Ellba Eastern Private Ltd. joint operation in 2014 contributed to this decline, as well. Positive currency effects supported sales development in all segments. Earnings decreased by €103 million to €70 million year-on-year; along with startup costs for new plants and the decline in prices and volumes, this development was mainly brought about by a lower currency result.
In South America, Africa, Middle East, sales rose by 14% in local currency terms but matched the previous quarter’s level in euro terms. Higher sales volumes and increased prices compensated for negative currency and portfolio effects. We were able to raise volumes and prices particularly sharply in the crop protection business. By contrast, we observed a considerable sales decline in our businesses with the automotive industry. Earnings fell by €40 million to €157 million, despite a higher contribution from the Agricultural Solutions segment. Earnings were considerably down in the chemicals business and the Oil & Gas segment.
2 Our chemicals business comprises the Chemicals, Performance Products and Functional Materials & Solutions segments.