Quarterly statistics

Revenue

1,196

1,461

1,435

1,204

5,296

Decorative Paints

1,242

1,551

1,456

4,249

1,237

1,312

1,295

1,326

5,170

Performance Coatings

1,369

1,472

1,467

4,308

1,351

1,350

1,349

1,285

5,335

Specialty Chemicals

1,399

1,431

1,393

4,223

(22)

(26)

(28)

(28)

(104)

Other activities/eliminations

(38)

(48)

(36)

(122)

3,762

4,097

4,051

3,787

15,697

Total

3,972

4,406

4,280

12,658

EBITDA

90

191

148

11

440

Decorative Paints

76

175

147

398

143

170

157

141

611

Performance Coatings

164

213

202

579

241

220

238

207

906

Specialty Chemicals

235

255

227

717

(37)

(30)

(36)

(58)

(161)

Other activities/eliminations

(52)

(50)

(36)

(138)

437

551

507

301

1,796

Total

423

593

540

1,556

11.6

13.4

12.5

7.9

11.4

EBITDA margin (in %)

10.6

13.5

12.6

12.3

Depreciation

(30)

(30)

(33)

(33)

(126)

Decorative Paints

(33)

(34)

(35)

(102)

(21)

(21)

(21)

(24)

(87)

Performance Coatings

(23)

(25)

(23)

(71)

(55)

(56)

(56)

(60)

(227)

Specialty Chemicals

(61)

(63)

(62)

(186)

(2)

(3)

(4)

(2)

(11)

Other activities/eliminations

(5)

(1)

(3)

(9)

(108)

(110)

(114)

(119)

(451)

Total

(122)

(123)

(123)

(368)

Amortization

(21)

(20)

(20)

(23)

(84)

Decorative Paints

(24)

(24)

(25)

(73)

(7)

(7)

(7)

(8)

(29)

Performance Coatings

(9)

(8)

(10)

(27)

(12)

(13)

(13)

(16)

(54)

Specialty Chemicals

(13)

(15)

(13)

(41)

–

–

(1)

(2)

(3)

Other activities/eliminations

–

–

(1)

(1)

(40)

(40)

(41)

(49)

(170)

Total

(46)

(47)

(49)

(142)

EBIT

39

141

95

(45)

230

Decorative Paints

19

117

87

223

115

142

129

109

495

Performance Coatings

132

180

169

481

174

151

169

131

625

Specialty Chemicals

161

177

152

490

(39)

(33)

(41)

(62)

(175)

Other activities/eliminations

(57)

(51)

(40)

(148)

289

401

352

133

1,175

Total

255

423

368

1,046

7.7

9.8

8.7

3.5

7.5

EBIT margin (in %)

6.4

9.6

8.6

8.3

Operating income/(loss)

37

137

57

(94)

137

Decorative Paints

(15)

110

(2,429)

(2,334)

106

155

114

83

458

Performance Coatings

127

171

130

428

173

147

169

133

622

Specialty Chemicals

140

154

133

427

(39)

(11)

(39)

(86)

(175)

Other activities/eliminations

(61)

(60)

(67)

(188)

277

428

301

36

1,042

Total

191

375

(2,233)

(1,667)

Incidentals per Business Area

(2)

(4)

(38)

(49)

(93)

Decorative Paints

(34)

(7)

(2,516)

(2,557)

(9)

13

(15)

(26)

(37)

Performance Coatings

(5)

(9)

(39)

(53)

(1)

(4)

–

2

(3)

Specialty Chemicals

(21)

(23)

(19)

(63)

–

22

2

(24)

-

Other activities/eliminations

(4)

(9)

(27)

(40)

(12)

27

(51)

(97)

(133)

Total

(64)

(48)

(2,601)

(2,713)

Incidentals included in operating income/(loss)

(9)

(20)

(47)

(55)

(131)

Restructuring costs

(46)

(44)

(101)

(191)

–

–

–

–

–

Impairment

–

–

(2,478)

(2,478)

1

21

2

(33)

(9)

Results related to major legal and environmental cases

(22)

3

(5)

(24)

–

26

(5)

(11)

10

Results on acquisitions and divestments

–

–

(6)

(6)

(4)

–

(1)

2

(3)

Other incidental results

4

(7)

(11)

(14)

(12)

27

(51)

(97)

(133)

Total

(64)

(48)

(2,601)

(2,713)

Incidentals per line item

(4)

(5)

(25)

(18)

(52)

Cost of sales

(35)

(10)

(21)

(66)

–

–

–

–

–

Impairment

–

–

(2,478)

(2,478)

(3)

(9)

(20)

(34)

(66)

Selling expenses

(9)

(21)

(51)

(81)

(1)

(4)

(1)

(18)

(24)

General and administrative expenses

(20)

(10)

(20)

(50)

–

–

(1)

(8)

(9)

Research and development expenses

(1)

(2)

(5)

(8)

(4)

45

(4)

(19)

18

Other operating income/(expenses)

1

(5)

(26)

(30)

(12)

27

(51)

(97)

(133)

Total

(64)

(48)

(2,601)

(2,713)

Reconciliation net financing expense

14

17

14

12

57

Financing income

15

17

16

48

(61)

(59)

(57)

(125)

(302)

Financing expenses

(57)

(65)

(58)

(180)

(47)

(42)

(43)

(113)

(245)

Net interest on net debt

(42)

(48)

(42)

(132)

Other interest movements

(16)

(13)

(15)

(15)

(59)

Financing expenses related
to pensions

(16)

(16)

(16)

(48)

(5)

(12)

(13)

(16)

(46)

Interest on provisions

(3)

(18)

(9)

(30)

5

3

1

3

12

Other items

(4)

–

1

(3)

(16)

(22)

(27)

(28)

(93)

Net other financing charges

(23)

(34)

(24)

(81)

(63)

(64)

(70)

(141)

(338)

Net financing expenses

(65)

(82)

(66)

(213)

Quarterly net income analysis

7

8

9

(1)

23

Results from associates and joint ventures

4

5

5

14

(16)

(22)

(18)

(8)

(64)

Profit attributable to
non-controlling interests

(14)

(21)

(10)

(45)

221

372

240

(106)

727

Profit/(loss) before tax

130

298

(2,294)

(1,866)

(73)

(99)

(74)

52

(194)

Income tax

(46)

(80)

(56)

(182)

148

273

166

(54)

533

Profit/(loss) for the period from continuing operations

84

218

(2,350)

(2,048)

33

27

31

49

27

Effective tax rate (in %)

35

27

(2)

(10)

Earnings per share from continuing operations (in €)

0.57

1.07

0.63

(0.26)

2.01

Basic

0.30

0.83

(9.91)

(8.84)

0.56

1.07

0.63

(0.26)

1.99

Diluted

0.30

0.82

(9.91)

(8.84)

Earnings per share from discontinued operations (in €)

(0.02)

0.07

–

(0.03)

0.03

Basic

–

0.02

(0.09)

(0.07)

(0.02)

0.07

–

(0.03)

0.03

Diluted

–

0.02

(0.09)

(0.07)

Earnings per share from total operations (in €)

0.55

1.14

0.63

(0.29)

2.04

Basic

0.30

0.85

(10.00)

(8.91)

0.54

1.14

0.63

(0.29)

2.02

Diluted

0.30

0.84

(10.00)

(8.91)

Number of shares (in millions)

233.6

233.9

234.0

234.3

233.9

Weighted average number of shares

235.1

236.9

238.2

236.8

233.7

234.0

234.0

234.7

234.7

Number of shares at end of quarter

235.6

238.2

238.2

238.2

Adjusted earnings (in € millions)

221

372

240

(106)

727

Profit/(loss) before tax from continuing operations

130

298

(2,294)

(1,866)

12

(27)

51

97

133

Incidentals reported in
operating income/(loss)

64

48

2,601

2,713

40

40

41

49

170

Amortization of intangible assets

46

47

49

142

(88)

(107)

(100)

9

(286)

Adjusted income tax

(78)

(106)

(106)

(290)

(16)

(22)

(18)

(8)

(64)

Non-controlling interests

(14)

(21)

(10)

(45)

169

256

214

41

680

Adjusted net income for continuing operations

148

266

240

654

0.72

1.09

0.91

0.17

2.91

Adjusted earnings per share (in €)

0.63

1.12

1.01

2.76