- Cognis businesses successfully integrated into the Performance Products segment
- Aiming for additional EBIT of €290 million starting in 2015 through synergies from the Cognis integration
- One-time integration costs of around €300 million expected by the end of 2013; €21 million already incurred in 2010 and €238 million in 2011
The Cognis businesses have been successfully integrated into the Performance Products segment. Our goal is to generate additional income from operations (EBIT) of €290 million yearly as a result of the integration. This includes growth synergies to generate an additional EBIT of €145 million annually from 2015 and cost synergies of around €145 million each year, which we expect to achieve starting from the end of 2013.
By the end of 2013, we anticipate one-time integration costs of around €300 million, of which €21 million were already incurred in 2010 and €238 million in 2011. In addition, the full use of inventories stepped up to fair value had resulted in expenses of around €120 million by the first quarter of 2011. The acquired business will already be accretive to earnings per share as of 2012, less than two years after the acquisition. We completed the major parts of the structural integration by the end of 2011.