Business Review
At a glance
- Sales of €10,280 million, considerably above the prior year due to higher prices, positive currency effects and volume growth
- EBIT before special items of €1,220 million, 70.6% above the 2021 figure
Sales to third parties in the Agricultural Solutions segment were €10,280 million in 2022, €2,118 million above the previous year. Higher prices in all regions contributed most to the positive development. Sales growth was also driven by exchange rate effects and higher volumes.
Volumes |
5.7% |
|---|---|
Prices |
12.4% |
Portfolio |
–0.6% |
Currencies |
8.4% |
Sales |
25.9% |
In Europe, sales rose by €302 million year on year to €2,430 million. This was mainly due to significantly higher price levels. Sales development was supported by strong volume growth, especially in fungicides and herbicides, while negative currency effects, mainly from the Turkish lira, had a dampening effect.
In North America, sales rose by €922 million to €4,007 million. This was primarily driven by significantly higher prices and positive currency effects. Sales were also boosted by higher herbicide volumes in particular.
Sales in Asia amounted to €1,130 million, an increase of €172 million compared with the previous year. This was mainly due to higher volumes, especially of herbicides. Sales were also positively impacted by currency effects and significantly higher price levels.
Sales in the region South America, Africa, Middle East amounted to €2,712 million, €722 million above the previous year, and were driven by significantly higher prices and positive currency effects, both primarily in Brazil. Slightly higher volumes, especially for herbicides and seed treatment products, also contributed to the positive development.
|
|
2022 |
2021 |
+/– |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales to third parties |
|
10,280 |
8,162 |
25.9% |
||||||||||
Intersegment transfers |
|
40 |
40 |
1.4% |
||||||||||
Sales including transfers |
|
10,320 |
8,202 |
25.8% |
||||||||||
Income from operations before depreciation, amortization and special items |
|
1,928 |
1,375 |
40.2% |
||||||||||
Income from operations before depreciation and amortization (EBITDA) |
|
1,922 |
1,358 |
41.6% |
||||||||||
EBITDA margin |
% |
18.7 |
16.6 |
− |
||||||||||
Depreciation and amortizationa |
|
701 |
662 |
5.9% |
||||||||||
Income from operations (EBIT) |
|
1,221 |
696 |
75.5% |
||||||||||
Special items |
|
1 |
–19 |
. |
||||||||||
EBIT before special items |
|
1,220 |
715 |
70.6% |
||||||||||
Return on capital employed (ROCE) |
% |
7.1 |
4.5 |
− |
||||||||||
Assets |
|
17,071 |
15,305 |
11.5% |
||||||||||
Investments including acquisitionsb |
|
414 |
347 |
19.0% |
||||||||||
Research and development expenses |
|
944 |
904 |
4.4% |
||||||||||
|
||||||||||||||
Agricultural Solutions – sales
By indication and sector
At €1,220 million, income from operations (EBIT) before special items was €505 million above the 2021 figure. The increase was primarily due to strong sales growth. This more than compensated for increased raw materials and energy prices and higher fixed costs.
EBIT amounted to €1,221 million, €525 million higher than in the previous year.
Division |
Europe |
North America |
Asia Pacific |
South America, Africa, Middle East |
Total (million €) |
|---|---|---|---|---|---|
Agricultural Solutions |
24% |
39% |
11% |
26% |
10,280 |