Industrial Solutions

Q3 2022

In the Industrial Solutions segment, sales rose considerably compared with the third quarter of 2021. Both operating divisions contributed to the increase.

Sales growth was mainly attributable to significantly higher prices in all businesses and regions, primarily resulting from higher raw materials and energy prices and logistics costs.

Sales were boosted by positive currency effects, especially from the U.S. dollar.

Lower volumes overall had a slightly negative impact on sales performance. The Dispersions & Resins division recorded a significant decline in volumes, particularly in the dispersions, resins and additives businesses. Slightly higher volumes in the Performance Chemicals division, especially in the fuel and lubricant solutions business, only partially compensated for this.

The segment’s income from operations (EBIT) before special items was considerably above the prior-year quarter. The increase was mainly attributable to significantly higher earnings in the Performance Chemicals division, primarily from price-driven margin growth. This was partially offset by higher fixed costs, mainly due to higher production costs resulting from plant shutdowns and the increase in energy prices. EBIT before special items rose slightly in the Dispersions & Resins division. The increase was primarily due to price-driven margin growth.

In the third quarter of 2022, EBIT included special income from the divestiture of the kaolin minerals business, which was closed on September 30, 2022.