Regions

Q3 2019

Sales at companies located in Europe declined by 6% compared with the third quarter of 2018. This was mainly due to lower prices in nearly all segments, but particularly in the Chemicals and Materials segments. Sales were also dampened by lower volumes, especially in the Chemicals segment, as well as negative portfolio effects, particularly in the Industrial Solutions segment. Slightly positive currency effects in the Surface Technologies segment had an offsetting impact. Income from operations (EBIT) rose by €138 million year on year to €797 million. This was primarily attributable to the significantly higher contributions from Other and from the Agricultural Solutions and Industrial Solutions segments. The Nutrition & Care segment recorded slight earnings growth. Earnings were weighed down by significantly lower contributions from the Materials, Chemicals and Surface Technologies segments.

In North America, sales declined by 7% in euros and 11% in local currency terms compared with the figure for the prior-year quarter. This was primarily due to lower volumes and prices in the Chemicals segment. Negative portfolio effects in the Industrial Solutions segment also contributed to the sales decrease. Positive currency effects in all segments and significantly higher prices in the Surface Technologies segment had an offsetting impact. EBIT declined by €110 million to €61 million. This was attributable to significantly lower contributions from all segments except the Surface Technologies and Nutrition & Care segments, which considerably increased EBIT.

Sales in Asia Pacific decreased by 1% in local currency terms but rose by 2% in euros. This was due to significantly higher sales volumes, especially in the Surface Technologies segment, as well as positive currency effects in all segments. Lower prices in the Materials segment in particular had an offsetting effect. EBIT declined by €165 million year on year to €316 million. This was largely the result of considerably lower EBIT in the Materials segment. The contribution from the Chemicals segment was also lower. By contrast, EBIT rose considerably in all other segments.

In the region South America, Africa, Middle East, we increased sales by 22% in local currency terms and 24% in euros compared with the prior-year quarter. Sales growth was primarily driven by higher volumes in the Agricultural Solutions segment and higher prices, especially in the Agricultural Solutions and Surface Technologies segments. Currency effects had a positive impact on sales development in almost all segments. At €202 million, EBIT exceeded the figure for the third quarter of 2018 by €118 million. This was the result of higher contributions from all segments, but especially from the Agricultural Solutions segment.