Surface Technologies

Q2 2021

Sales in the Surface Technologies segment rose considerably compared with the second quarter of 2020, especially in the Catalysts division.

Factors influencing sales in Q2 2021 – Surface Technologies

 

Surface Technologies

Catalysts

Coatings

Volumes

44%

42%

56%

Prices

57%

69%

4%

Portfolio

0%

0%

0%

Currencies

–11%

–13%

–7%

Sales

90%

98%

53%

The sales increase was attributable to significantly higher prices and volumes overall.

Price levels increased, especially in the Catalysts division, due to higher precious metal prices. This led to a considerable increase in sales in precious metal trading to €2,927 million (Q2 2020: €1,502 million). Coatings raised prices in all businesses.

The significantly higher sales volumes resulted primarily from greater demand from the automotive industry. Catalysts achieved higher volumes in all businesses, especially for mobile emissions catalysts. Coatings also increased volumes in all businesses, particularly for automotive OEM coatings. However, the segment’s volume growth was dampened by the shortage of semiconductors in the automotive market.

Negative currency effects, mainly relating to the U.S. dollar, had an offsetting effect.

Income from operations (EBIT) before special items was considerably above the level of the prior-year quarter in both divisions due primarily to sales volumes. Additionally, earnings performance in the Catalysts division was supported by a considerably higher contribution from precious metal trading.

Segment data – Surface Technologies (Million €)

 

Q2

H1

 

2021

2020

+/–

2021

2020

+/–

Sales to third parties

5,892

3,099

90%

11,839

7,427

59%

of which Catalysts

5,049

2,549

98%

10,159

6,081

67%

Coatings

843

550

53%

1,680

1,346

25%

Income from operations before depreciation, amortization and special items

399

–34

.

869

304

186%

Income from operations before depreciation and amortization (EBITDA)

400

–44

.

866

290

199%

Depreciation and amortizationa

111

132

–16%

221

249

–11%

Income from operations (EBIT)

289

–176

.

645

41

.

Special items

–25

–4

–28

86%

EBIT before special items

289

–151

.

649

69

.

Assets (June 30)

13,190

11,700

13%

13,190

11,700

13%

Investments including acquisitionsb

125

137

–9%

198

220

–10%

Research and development expenses

68

48

42%

135

103

31%

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