Agricultural Solutions

Q1 2021

Sales in the Agricultural Solutions segment rose slightly compared with the first quarter of 2020. Volumes were above the prior-year quarter in all regions. Higher price levels also contributed to sales growth. Significantly negative currency effects had an offsetting impact.

Factors influencing sales in Q1 2021 – Agricultural Solutions

Volumes

7%

Prices

2%

Portfolio

0%

Currencies

–8%

Sales

1%

Sales in Europe declined slightly as a result of negative currency effects, especially in eastern Europe. By contrast, higher price levels had a positive impact on sales. Volumes were slightly above the prior-year quarter, especially for fungicides.

Sales in North America decreased slightly due to negative currency effects. Volumes rose, especially for field crop seeds and in par­ticular for canola (oilseed rape) in Canada. Fungicide volumes also increased. Prices were on a level with the prior-year quarter.

In Asia, sales rose considerably as a result of higher sales volumes, especially of fungicides, primarily in China, India and Korea. Negative currency effects had an offsetting impact.

Sales rose considerably in the region South America, Africa, Middle East. This was mainly driven by increased volumes resulting from a late season. Higher price levels also had a positive impact on sales. Sales development was weighed down by significantly negative currency effects, mainly from the Brazilian real.

Income from operations (EBIT) before special items was on a level with the first quarter of 2020. Strong volume growth and lower fixed costs compensated for the negative currency effects.

Segment data – Agricultural Solutions (Million €)

 

 

Q1

 

 

2021

2020

+/–

Sales to third parties

 

2,846

2,819

1%

Income from operations before depreciation, amortization and special items

 

971

989

–2%

Income from operations before depreciation and amortization (EBITDA)

 

968

967

0%

EBITDA margin

%

34.0

34.3

Depreciation and amortizationa

 

164

180

–9%

Income from operations (EBIT)

 

804

787

2%

Special items

 

–3

–22

86%

EBIT before special items

 

807

809

0%

Assets (March 31)

 

16,546

17,997

–8%

Investments including acquisitionsb

 

48

65

–26%

Research and development expenses

 

216

207

4%

a

Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments)

b

Additions to property, plant and equipment and intangible assets