Industrial Solutions
Q3 2021
Sales in the Industrial Solutions segment were considerably above the level of the third quarter of 2020. Both the Dispersions & Resins division as well as the Performance Chemicals division contributed to this growth.
|
Industrial Solutions |
Dispersions & Resins |
Performance Chemicals |
---|---|---|---|
Volumes |
11% |
10% |
14% |
Prices |
18% |
22% |
11% |
Portfolio |
–10% |
–16% |
0% |
Currencies |
1% |
1% |
0% |
Sales |
20% |
17% |
25% |
Sales growth was driven by higher price levels in both divisions resulting largely from increased prices for raw materials. Particularly Dispersions & Resins raised prices significantly.
Higher volumes in almost all business areas of both divisions supported sales performance. In the prior-year quarter, the segment’s sales volume development had been negatively impacted by the effects of the coronavirus pandemic.
Currency effects, especially in Asia Pacific, had a slightly positive impact on sales.
Negative portfolio effects in Dispersions & Resins associated with the divestiture of the global pigments business had an offsetting impact.
The segment’s income from operations (EBIT) before special items grew considerably, mainly a result of the significant earnings increase in Dispersions & Resins. The division’s higher EBIT before special items was primarily due to higher volumes. The Performance Chemicals division slightly increased EBIT before special items, largely because of the 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 |
2,205 |
1,844 |
20% |
6,672 |
5,761 |
16% |
||||
of which Dispersions & Resins |
1,399 |
1,200 |
17% |
4,322 |
3,674 |
18% |
||||
Performance Chemicals |
806 |
644 |
25% |
2,350 |
2,087 |
13% |
||||
Income from operations before depreciation, amortization and special items |
347 |
274 |
27% |
1,085 |
897 |
21% |
||||
Income from operations before depreciation and amortization (EBITDA) |
315 |
264 |
19% |
1,082 |
824 |
31% |
||||
Depreciation and amortizationa |
86 |
186 |
–54% |
254 |
373 |
–32% |
||||
Income from operations (EBIT) |
229 |
78 |
194% |
828 |
451 |
84% |
||||
Special items |
–33 |
–108 |
69% |
–7 |
–171 |
96% |
||||
EBIT before special items |
262 |
186 |
41% |
835 |
622 |
34% |
||||
Assets (September 30) |
6,010 |
6,556 |
–8% |
6,010 |
6,556 |
–8% |
||||
Investments including acquisitionsb |
83 |
81 |
2% |
215 |
216 |
0% |
||||
Research and development expenses |
39 |
45 |
–13% |
129 |
133 |
–3% |
||||
|