Industrial Solutions

Q1 2021

Sales in the Industrial Solutions segment were at the level of the prior-year quarter. Slightly higher sales in the Dispersions & Pigments division were offset by a slight decrease in the Performance Chemicals division.

Factors influencing sales in Q1 2021 – Industrial Solutions

 

Industrial Solutions

Dispersions & Pigments

Performance Chemicals

Volumes

5%

8%

3%

Prices

–1%

0%

–3%

Portfolio

0%

0%

0%

Currencies

–4%

–4%

–5%

Sales

0%

4%

–5%

The segment’s sales were positively impacted by higher volumes. In the Dispersions & Pigments division, sales volumes rose in almost all business areas. In the Performance Chemicals division, volume growth was mainly driven by the plastic additives business.

Sales performance was weighed down by negative currency effects, mainly relating to the U.S. dollar.

Sales were also reduced by lower prices in the Performance Chemi­cals division, especially in the fuel and lubricant solutions business and in the plastic additives business. Prices in the Dispersions & Pigments division were on a level with the prior-year quarter.

Income from operations (EBIT) before special items was slightly below the prior-year quarter. Considerably higher earnings in the Dispersions & Pigments division were unable to completely offset the significantly lower earnings contribution from the Performance Chemicals division. This was mainly due to lower margins as a result of increased raw materials prices and negative currency effects.

The increase in earnings in the Dispersions & Pigments division was primarily attributable to lower fixed costs and volume growth. The division’s earnings were weighed down by negative currency effects.

Segment data – Industrial Solutions (Million €)

 

 

Q1

 

 

2021

2020

+/–

Sales to third parties

 

2,108

2,098

0%

of which Dispersions & Pigments

 

1,349

1,301

4%

Performance Chemicals

 

759

797

–5%

Income from operations before depreciation, amortization and special items

 

350

343

2%

Income from operations before depreciation and amortization (EBITDA)

 

343

335

2%

EBITDA margin

%

16.3

16.0

Depreciation and amortizationa

 

84

95

–12%

Income from operations (EBIT)

 

259

240

8%

Special items

 

–7

–33

79%

EBIT before special items

 

266

273

–3%

Assets (March 31)

 

6,855

7,202

–5%

Investments including acquisitionsb

 

62

67

–7%

Research and development expenses

 

44

45

–2%

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