Surface Technologies
Q3 2021
Sales in the Surface Technologies segment rose considerably compared with the prior-year quarter. This was due primarily to a significant sales increase in the Catalysts division. Slight sales growth was recorded in the Coatings division.
|
Surface Technologies |
Catalysts |
Coatings |
---|---|---|---|
Volumes |
–3% |
–3% |
–3% |
Prices |
37% |
45% |
3% |
Portfolio |
1% |
2% |
0% |
Currencies |
1% |
1% |
1% |
Sales |
36% |
45% |
1% |
The sales performance was primarily attributable to significantly higher precious metal prices in the Catalysts division. This also led to a considerable increase in sales in precious metal trading to €2,569 million (Q3 2020: €1,709 million). Prices could be raised in nearly all business areas of the Coatings division.
Portfolio effects in the Catalysts division following the formation of the BASF Shanshan Battery Materials Co., Ltd. joint venture had a positive impact on sales.
Slightly positive currency effects, especially in Asia Pacific, also contributed to sales.
The segment’s sales volumes decreased primarily as a result of the ongoing shortage of semiconductors in the automotive market. This led to a decrease in volumes in both divisions, mainly in emission catalysts and automotive OEM coatings. Sales volumes in precious metal trading also declined. Improved volumes in the remaining business areas of both divisions only partially compensated for this.
Income from operations (EBIT) before special items decreased considerably compared with the third quarter of 2020. The key factor for this was the significantly lower EBIT before special items in the Coatings division due especially to higher fixed costs and lower margins because of increased raw materials prices.
By contrast, EBIT before special items rose slightly in the Catalysts division due mainly to higher margins. Among other things, these resulted from a favorable product mix.
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 |
5,631 |
4,142 |
36% |
17,470 |
11,569 |
51% |
||||
of which Catalysts |
4,793 |
3,310 |
45% |
14,952 |
9,391 |
59% |
||||
Coatings |
838 |
832 |
1% |
2,518 |
2,178 |
16% |
||||
Income from operations before depreciation, amortization and special items |
245 |
322 |
–24% |
1,114 |
626 |
78% |
||||
Income from operations before depreciation and amortization (EBITDA) |
229 |
308 |
–26% |
1,095 |
598 |
83% |
||||
Depreciation and amortizationa |
125 |
1,111 |
–89% |
346 |
1,360 |
–75% |
||||
Income from operations (EBIT) |
104 |
–803 |
. |
749 |
–762 |
. |
||||
Special items |
–15 |
–1,003 |
99% |
–19 |
–1,031 |
98% |
||||
EBIT before special items |
119 |
200 |
–41% |
768 |
269 |
186% |
||||
Assets (September 30) |
13,788 |
11,305 |
22% |
13,788 |
11,305 |
22% |
||||
Investments including acquisitionsb |
960 |
150 |
. |
1,158 |
370 |
213% |
||||
Research and development expenses |
69 |
56 |
23% |
204 |
159 |
28% |
||||
|