Regions

2nd Quarter 2017

Sales at companies headquartered in Europe grew by 12% compared with the second quarter of 2016. This was largely attributable to higher sales prices in the chemicals business¹, especially the Chemicals segment. Slight volumes growth and the Chemetall business acquired from Albemarle in December 2016 additionally supported sales. At €1,399 million, income from operations exceeded the level of the previous second quarter by €345 million, primarily because of the considerable increase in the Chemicals and Oil & Gas segments.

In North America, sales improved year-on-year by 9% in local currency terms and 12% in euros. This was mainly due to higher sales prices and volumes in all segments. Both currency effects and the acquired Chemetall business also had a positive influence on sales. Income from operations fell by €60 million to €337 million, largely owing to special charges, including for restructuring measures. Declines in the Functional Materials & Solutions and Performance Products segments could not be offset by the higher contributions from the other segments.

Compared with the previous second quarter, sales in Asia Pacific rose by 17% in local currency terms and 19% in euros. We increased sales prices, especially in the Chemicals segment, and achieved slight overall volumes growth. Income from operations was up by €286 million to €498 million compared with the second quarter of 2016. The Chemicals and Functional Materials & Solutions segments mainly contributed to this development.

The region South America, Africa, Middle East saw a volumes and price-driven sales decrease of 8% in local currency terms and 3% in euros. Volumes were especially down in the Agricultural Solutions and Functional Materials & Solutions segments. Income from operations before special items fell by €108 million year-on-year to minus €53 million, primarily as a consequence of the decline in the Agricultural Solutions segment.