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Advanced Intermediates

Advanced Intermediates
           
  Q1 2012 Q1 2013 Change
  € million Margin % € million Margin % %
           
Sales 429   433   0.9
EBITDA pre exceptionals 70 16.3 71 16.4 1.4
EBITDA 70 16.3 71 16.4 1.4
Operating result (EBIT) pre exceptionals 54 12.6 54 12.5 0.0
Operating result (EBIT) 54 12.6 54 12.5 0.0
Cash outflows for capital expenditures 1) 15   19   26.7
Depreciation and amortization 16   17   6.3
Employees as of March 31 (previous year: as of Dec. 31) 2,841   2,841   0.0
1) Intangible assets and property, plant and equipment

Sales in the Advanced Intermediates segment rose by 0.9% in the first quarter of 2013 to €433 million. Higher raw material prices were offset by selling price adjustments, giving a positive price effect of 4.4%. Volumes decreased by 3.0% against the strong prior-year period. Shifts in exchange rates produced an additional negative effect of 0.5%.

Selling prices in the Saltigo business unit were at the level of the prior-year period. In the Advanced Industrial Intermediates business unit, the continuing strong demand from the agrochemical industry for products from the integrated aromatics production network did not compensate for the decline in demand for products for the construction and coatings industries. Higher procurement prices for raw materials, including benzene and cyclohexane, were passed along to the market in the form of selling price adjustments. From the regional viewpoint, Germany was the growth engine in this segment, with business expanding in both absolute and relative terms.

EBITDA pre exceptionals in the Advanced Intermediates segment rose by €1 million against the prior-year quarter to €71 million. Higher raw material costs and a downturn in volumes were more than offset by price increases at the segment level. Shifts in exchange rates had no material impact on earnings. The EBITDA margin came in at the solid level of 16.4%, against 16.3% in the prior-year quarter.

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