Materials
Q1 2022
Sales in the Materials segment rose considerably compared with the first quarter of 2021. This was mainly driven by the strong sales increase in the Monomers division. The Performance Materials division also recorded considerable growth.
|
Materials |
Performance Materials |
Monomers |
|---|---|---|---|
Volumes |
3.7% |
1.3% |
6.1% |
Prices |
31.4% |
19.2% |
43.7% |
Portfolio |
–0.1% |
0.0% |
–0.2% |
Currencies |
4.8% |
4.5% |
5.2% |
Sales |
39.9% |
24.9% |
54.9% |
Sales performance was largely attributable to higher price levels in both divisions as a result of the increase in raw materials prices. Both divisions raised prices in all business areas.
Currency effects, mainly relating to the Chinese renminbi and the U.S. dollar, also had a positive impact on sales.
Sales growth was also supported by slightly higher volumes on the back of continued strong demand. The Monomers division increased volumes, especially for polyamides in North America and for methylene diphenyl diisocyanate (MDI) in Asia Pacific, North America and Europe. Sales volumes in the Performance Materials division were slightly above the prior-year quarter. This was mainly driven by demand for engineering plastics in Asia and Europe.
The segment’s income from operations (EBIT) before special items rose considerably compared with the prior-year quarter. This was primarily due to considerably higher EBIT before special items in the Monomers division, mainly as a result of price-driven margin growth in the ammonia and polyamide value chains. The Performance Materials division recorded a slight decline in earnings. Slightly higher margins were unable to offset the rise in fixed costs.
|
|
2022 |
2021 |
+/– |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales to third parties |
|
4,821 |
3,447 |
39.9% |
||||||||||
of which Performance Materials |
|
2,164 |
1,732 |
24.9% |
||||||||||
Monomers |
|
2,657 |
1,715 |
54.9% |
||||||||||
Income from operations before depreciation, amortization and special items |
|
954 |
863 |
10.6% |
||||||||||
Income from operations before depreciation and amortization (EBITDA) |
|
952 |
843 |
12.9% |
||||||||||
Depreciation and amortizationa |
|
203 |
195 |
4.0% |
||||||||||
Income from operations (EBIT) |
|
749 |
648 |
15.6% |
||||||||||
Special items |
|
–2 |
–24 |
91.0% |
||||||||||
EBIT before special items |
|
751 |
672 |
11.8% |
||||||||||
Assets (March 31) |
|
11,921 |
9,696 |
23.0% |
||||||||||
Investments including acquisitionsb |
|
142 |
105 |
35.3% |
||||||||||
Research and development expenses |
|
47 |
42 |
12.5% |
||||||||||
|
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