Regions

Q3 2021

Sales at companies located in Europe rose by 40% compared with the third quarter of 2020. This was mainly due to significantly higher price levels in the Chemicals and Materials segments. Considerable volumes increases across almost all segments contributed to the sales growth. Negative portfolio effects, particularly in the Industrial Solutions segment following the sale of the global pigments business, had an offsetting effect. Income from operations (EBIT) increased by €2,100 million to €543 million. This was mainly due to considerable earnings increases in the Materials, Surface Technologies and Chemicals segments as well as in Other. The segments’ earnings had been weighed down in the prior-year quarter by high impairments.

In North America, sales rose by 53% in euros and by 54% in local currency terms compared with the prior-year quarter. This was primarily driven by higher prices especially in the Surface Technologies and Chemicals segments. Higher sales volumes, especially in the Surface Technologies, Industrial Solutions and Chemicals segments, supported sales performance. Sales were lowered by portfolio effects, particularly in the Industrial Solutions segment following the sale of the global pigments business, as well as by negative currency effects. EBIT rose by €1,308 million to €262 million. This resulted largely from significant earnings growth in the Chemicals segment. EBIT also increased considerably in all the other segments as well as in Other. All segments’ earnings had been burdened in the prior-year quarter by impairments, among other factors.

Compared with the third quarter of 2020, sales in the Asia Pacific region rose by 40% in euros and by 37% in local currency terms. This was due mainly to higher price levels in all segments, ­especially in Surface Technologies, Chemicals and Materials. Currency effects had a slightly positive impact on sales. Overall higher volumes also drove sales. Mainly the higher sales volumes in the Materials and Industrial Solutions segments more than compensated for the decline in volumes in Surface Technologies. At €839 million, EBIT increased by €1,016 million compared with the third quarter of 2020, which had been burdened mainly from impairments. The development was largely attributable to the considerable EBIT growth in the Chemicals segment. Earnings in Surface Technologies, Materials and Industrial Solutions also rose significantly.

In the region South America, Africa, Middle East, sales rose by 28% in euros and by 27% in local currency terms compared with the third quarter of 2020. This was primarily due to higher prices, ­especially in the Surface Technologies and Chemicals segments. A considerable increase in sales volumes, particularly in the Agricultural Solutions segment, contributed to sales growth. Slightly positive currency effects also supported sales performance. EBIT rose by €36 million to €178 million which was largely attributable to earnings growth in the Agricultural Solutions segment.