Regions

3rd Quarter 2016

Sales at companies located in Europe decreased by 32% compared with the third quarter of 2015. The asset swap with Gazprom meant a lack of contributions in the third quarter of 2016 from the gas trading and storage business in particular. Lower prices brought about by falling raw material prices additionally weighed down sales. We were able to increase sales volumes in all segments. Income from operations fell by €641 million to €731 million. This was mainly because of the reduced contribution from the Oil & Gas segment. Other and the Chemicals segment also posted considerably lower earnings, while earnings rose considerably in the remaining segments.

Compared with the previous third quarter, sales in North America declined by 6% in both local currency and euro terms, mostly due to the price declines following a drop in raw material prices. Sales were furthermore dampened by lower volumes in the Chemicals and Performance Products segments. At €260 million, income from operations was up by €2 million compared with the same quarter of the previous year. We observed a considerable decrease in the Chemicals segment, whereas the remaining segments and Other all raised their earnings.

Sales in Asia Pacific rose by 2% in local currency terms and 1% in euros. We achieved sales growth in all segments as a result of considerably higher volumes. Sales in Other fell considerably, mostly due to the expiration of supply contracts at the end of 2015 in connection with the disposal of our share in the Ellba Eastern Private Ltd. joint operation in Singapore at the end of 2014. Income from operations grew by €171 million year-on-year to reach €270 million. All segments were able to considerably increase their contributions.

In the region South America, Africa, Middle East, sales declined by 5% in local currency terms and 6% in euros. The decrease was mainly the result of lower volumes, primarily in the Agricultural Solutions and Functional Materials & Solutions segments. Higher sales prices had a positive effect on sales. At €203 million, income from operations exceeded the prior third-quarter level by €43 million, supported especially by the Agricultural Solutions and Oil & Gas segments.