Materials
Q2 2022
The Materials segment increased sales considerably compared with the prior-year quarter. This was primarily the result of strong sales growth in the Monomers division. The Performance Materials division also recorded a considerable increase.
|
Materials |
Performance Materials |
Monomers |
|---|---|---|---|
Volumes |
–1.8% |
–3.2% |
–0.5% |
Prices |
24.9% |
16.8% |
32.6% |
Portfolio |
–0.1% |
0.0% |
–0.1% |
Currencies |
6.9% |
6.7% |
7.1% |
Sales |
29.9% |
20.2% |
39.0% |
The positive sales performance was mainly due to significantly higher prices from passing on the increase in raw materials prices. The Monomers division raised prices in all business areas. The Performance Materials division raised prices for polyurethane systems and engineering plastics in particular.
Sales growth was supported by currency effects, mainly from the U.S. dollar and the Chinese renminbi.
Lower volumes in the Performance Materials division, largely resulting from the lockdowns in China and the ensuing supply chain disruptions, had a slight offsetting effect. In the Monomers division, higher polyamide volumes in North America only partially compensated for lower sales volumes overall in Europe.
Income from operations (EBIT) before special items decreased considerably compared with the second quarter of 2021. In both divisions, higher margins were unable to offset the increase in fixed costs. The Monomers division recorded higher fixed costs, mainly as a result of the increase in energy prices and currency effects. Fixed costs in the Performance Materials division were above the prior-year quarter, primarily due to higher production costs amid lower plant capacity utilization.
|
Q2 |
H1 |
||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
2022 |
2021 |
+/– |
2022 |
2021 |
+/– |
||||||||||||
Sales to third parties |
4,862 |
3,743 |
29.9% |
9,683 |
7,190 |
34.7% |
||||||||||||
of which Performance Materials |
2,179 |
1,812 |
20.2% |
4,343 |
3,544 |
22.5% |
||||||||||||
Monomers |
2,684 |
1,931 |
39.0% |
5,341 |
3,646 |
46.5% |
||||||||||||
Income from operations before depreciation, amortization and special items |
874 |
985 |
–11.2% |
1,829 |
1,848 |
–1.1% |
||||||||||||
Income from operations before depreciation and amortization (EBITDA) |
857 |
971 |
–11.8% |
1,809 |
1,814 |
–0.3% |
||||||||||||
Depreciation and amortizationa |
207 |
209 |
–1.0% |
410 |
404 |
1.5% |
||||||||||||
Income from operations (EBIT) |
650 |
762 |
–14.7% |
1,399 |
1,410 |
–0.8% |
||||||||||||
Special items |
–18 |
–30 |
40.5% |
–20 |
–54 |
63.0% |
||||||||||||
EBIT before special items |
668 |
792 |
–15.7% |
1,419 |
1,464 |
–3.1% |
||||||||||||
Assets (June 30)a |
12,308 |
10,245 |
20.1% |
12,308 |
10,245 |
20.1% |
||||||||||||
Investments including acquisitionsb |
200 |
150 |
33.6% |
343 |
255 |
34.3% |
||||||||||||
Research and development expenses |
46 |
52 |
–10.6% |
94 |
94 |
–0.3% |
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