Materials

Q2 2021

Compared with the second quarter of 2020, sales in the Materials segment rose considerably in both divisions.

Factors influencing sales in Q2 2021 – Materials

 

Materials

Performance Materials

Monomers

Volumes

42%

54%

30%

Prices

38%

21%

55%

Portfolio

0%

0%

0%

Currencies

–5%

–6%

–5%

Sales

75%

69%

80%

Sales development resulted primarily from a significant demand-related increase in volumes. The Performance Materials division increased volumes across all customer industries, especially in the transportation industry in Europe; the Monomers division increased volumes mainly in isocyanates and polyamides.

Significantly higher prices also had a positive impact on sales. The higher price level was especially due to strong demand alongside lower product availability as well as higher raw materials prices. While the Monomers division achieved higher prices mainly for isocyanates, price levels in the Performance Materials division rose primarily for polyurethane systems and engineering plastics.

Sales performance was dampened by negative currency effects.

Income from operations (EBIT) before special items rose considerably in both divisions. The Monomers division achieved an increase in EBIT before special items largely as a result of higher isocyanate margins and a higher contribution from the polyamides business. Earnings in the Performance Materials division were considerably higher than in the prior-year quarter, mainly due to the positive development of sales volumes.

Segment data – Materials (Million €)

 

Q2

H1

 

2021

2020

+/–

2021

2020

+/–

Sales to third parties

3,743

2,143

75%

7,190

5,017

43%

of which Performance Materials

1,812

1,071

69%

3,544

2,602

36%

Monomers

1,931

1,072

80%

3,646

2,415

51%

Income from operations before depreciation, amortization and special items

985

147

.

1,848

562

229%

Income from operations before depreciation and amortization (EBITDA)

971

134

.

1,814

459

295%

Depreciation and amortizationa

209

236

–11%

404

442

–9%

Income from operations (EBIT)

762

–102

.

1,410

17

.

Special items

–30

–22

–36%

–54

–112

52%

EBIT before special items

792

–80

.

1,464

129

.

Assets (June 30)

10,245

9,831

4%

10,245

9,831

4%

Investments including acquisitionsb

150

87

72%

255

1,506

–83%

Research and development expenses

52

41

27%

94

86

9%

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