Industrial Solutions

Q1 2022

In the Industrial Solutions segment, sales rose considerably compared with the prior-year quarter. Both divisions recorded significant sales growth.

Factors influencing sales in Q1 2022 – Industrial Solutions

 

Industrial Solutions

Dispersions & Resins

Performance Chemicals

Volumes

6.6%

7.3%

5.3%

Prices

18.6%

18.1%

19.5%

Portfolio

–10.6%

–16.5%

–0.2%

Currencies

3.6%

3.4%

4.1%

Sales

18.3%

12.4%

28.7%

The sales increase was mainly driven by much higher prices in both divisions: Both the Dispersions & Resins division and the Performance Chemicals division raised prices in all business areas and all regions. This was primarily attributable to higher prices for raw materials, energy and freight.

Volumes also rose significantly. Both divisions increased sales volumes, especially in Europe in almost all business areas.

Slightly positive currency effects, mainly relating to the U.S. dollar and the Chinese renminbi, contributed to sales growth.

Sales were considerably reduced by portfolio effects, primarily in the Dispersions & Resins division following the disposal of the global pigments business.

Income from operations (EBIT) before special items was considerably above the first quarter of 2021. Positive price and volume developments led to strong earnings growth in both divisions.

Q1 segment data – Industrial Solutions (Million €)

 

 

2022

2021

+/–

Sales to third parties

 

2,493

2,108

18.3%

of which Dispersions & Resins

 

1,516

1,349

12.4%

Performance Chemicals

 

977

759

28.7%

Income from operations before depreciation, amortization and special items

 

431

350

23.2%

Income from operations before depreciation and amortization (EBITDA)

 

426

343

24.1%

Depreciation and amortizationa

 

83

84

–1.5%

Income from operations (EBIT)

 

343

259

32.4%

Special items

 

–5

–7

23.0%

EBIT before special items

 

348

266

30.9%

Assets (March 31)

 

6,714

6,855

–2.1%

Investments including acquisitionsb

 

53

62

–14.9%

Research and development expenses

 

43

44

–2.1%

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