Materials
Q3 2021
In the Materials segment, sales in both divisions increased considerably compared with the prior-year quarter.
|
Materials |
Performance Materials |
Monomers |
|---|---|---|---|
Volumes |
7% |
10% |
3% |
Prices |
41% |
22% |
63% |
Portfolio |
0% |
0% |
0% |
Currencies |
2% |
1% |
2% |
Sales |
50% |
33% |
68% |
Sales growth was due mainly to significantly higher prices resulting from strong demand alongside low product availability and increased prices for raw materials. Production and supply chain disruptions associated with hurricanes in the United States and raw material shortages negatively impacted product market availability. The Monomers division achieved higher prices primarily in isocyanates and polyamides, while Performance Materials raised price levels mainly in polyurethane systems and engineering plastics.
A considerable increase in volumes due largely to strong demand contributed to sales growth. A primary driver was the higher volumes in the Performance Materials division, due mainly to increased sales volumes in the transportation and consumer goods industries. Monomers recorded volumes growth particularly in the isocyanates business.
Positive currency effects, especially in Asia Pacific, supported sales slightly.
Income from operations (EBIT) before special items rose considerably compared with the third quarter of 2020. This was driven largely by significantly higher EBIT before special items in Monomers. Earnings growth was primarily due to higher margins in isocyanates and polyamides. The Performance Materials division also significantly increased EBIT before special items. This was mainly driven by positive volume development.
The decline in special items in the third quarter of 2021 was due primarily to the special charges for impairments in the prior-year quarter.
|
Q3 |
January–September |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|
|
2021 |
2020 |
+/– |
2021 |
2020 |
+/– |
||||
Sales to third parties |
3,973 |
2,657 |
50% |
11,163 |
7,674 |
45% |
||||
of which Performance Materials |
1,873 |
1,410 |
33% |
5,417 |
4,012 |
35% |
||||
Monomers |
2,100 |
1,247 |
68% |
5,746 |
3,662 |
57% |
||||
Income from operations before depreciation, amortization and special items |
832 |
439 |
90% |
2,680 |
1,001 |
168% |
||||
Income from operations before depreciation and amortization (EBITDA) |
822 |
430 |
91% |
2,636 |
889 |
197% |
||||
Depreciation and amortizationa |
202 |
976 |
–79% |
606 |
1,418 |
–57% |
||||
Income from operations (EBIT) |
620 |
–546 |
. |
2,030 |
–529 |
. |
||||
Special items |
–11 |
–763 |
99% |
–65 |
–875 |
93% |
||||
EBIT before special items |
631 |
217 |
191% |
2,095 |
346 |
. |
||||
Assets (September 30) |
10,620 |
9,007 |
18% |
10,620 |
9,007 |
18% |
||||
Investments including acquisitionsb |
166 |
135 |
23% |
421 |
1,641 |
–74% |
||||
Research and development expenses |
48 |
47 |
2% |
142 |
133 |
7% |
||||
|
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