Nutrition & Care

Q2 2022

Sales in the Nutrition & Care segment rose considerably compared with the second quarter of 2021. Both divisions contributed significantly.

Factors influencing sales in Q2 2022 – Nutrition & Care

 

Nutrition & Care

Care Chemicals

Nutrition & Health

Volumes

0.3%

–1.4%

4.1%

Prices

27.0%

33.1%

13.7%

Portfolio

–2.1%

–2.0%

–2.3%

Currencies

5.8%

5.2%

7.0%

Sales

30.9%

34.9%

22.3%

Sales growth was driven by significantly higher prices across all business areas, passing on increased prices for raw materials and energy.

Currency effects, mainly relating to the U.S. dollar and the Chinese renminbi, had a positive impact on sales.

Sales development was also supported by slightly higher volumes. This was primarily due to volume growth in the Nutrition & Health division, mainly in the pharma solutions and animal nutrition businesses. The Care Chemicals division recorded slightly lower sales volumes, particularly in the oleo surfactants and fatty alcohols business, as well as in the home care, industrial and institutional cleaning and industrial formulators business.

Portfolio effects from the sale of the production site in Kankakee, Illinois, reduced sales in both divisions.

The segment’s income from operations (EBIT) before special items was considerably above the prior-year quarter. This was due to the considerable increase in EBIT before special items in the Care Chemicals division, primarily from higher margins on the back of sales growth. EBIT before special items declined in the Nutrition & Health division. Higher margins were unable to offset the increase in fixed costs resulting from scheduled turnarounds, among other factors.

Segment data – Nutrition & Care (Million €)

 

Q2

H1

 

2022

2021

+/–

2022

2021

+/–

Sales to third parties

2,074

1,584

30.9%

4,045

3,117

29.8%

of which Care Chemicals

1,461

1,083

34.9%

2,824

2,142

31.8%

Nutrition & Health

613

501

22.3%

1,221

975

25.2%

Income from operations before depreciation, amortization and special items

325

239

36.1%

676

555

21.8%

Income from operations before depreciation and amortization (EBITDA)

322

295

9.1%

675

608

11.1%

Depreciation and amortizationa

113

101

11.9%

220

199

10.7%

Income from operations (EBIT)

209

194

7.6%

455

409

11.3%

Special items

–5

56

.

–2

53

.

EBIT before special items

213

138

54.7%

457

356

28.4%

Assets (June 30)a

8,169

6,611

23.6%

8,169

6,611

23.6%

Investments including acquisitionsb

136

118

15.0%

243

218

11.3%

Research and development expenses

45

43

4.0%

85

83

2.2%

a

Depreciation and amortization of property, plant and equipment and intangible assets (including impairments and reversals of impairments)

b

Additions to property, plant and equipment and intangible assets