- In Decorative Paints, costs were lower, mainly in Europe. Operating income for the quarter totaled €102 million (9 percent lower than the previous year), mainly due to restructuring costs in mature markets.
- In Performance Coatings, the impact of the revenue decline was partially offset by margin management, cost control and restructuring.
- In Specialty Chemicals, the lower profitability was mainly due to lower volumes and production outages, partly mitigated by cost and productivity initiatives. The first phase of a large performance improvement program in Functional Chemicals was initiated, which will lead to further FTE-reductions. Implementation will start as of Q3, when restructuring costs will be recorded as part of the performance improvement plan.
|
2nd quarter |
|
|
|
January - June | ||||||||
|
2012 |
2013 |
Δ% |
in € millions |
2012 |
2013 |
Δ% | ||||||
|
112 |
102 |
(9) |
Decorative Paints |
137 |
145 |
6 | ||||||
|
171 |
163 |
(5) |
Performance Coatings |
298 |
292 |
(2) | ||||||
|
154 |
121 |
(21) |
Specialty Chemicals |
294 |
220 |
(25) | ||||||
|
(49) |
(64) |
|
Other activities/eliminations |
(105) |
(118) |
| ||||||
|
388 |
322 |
(17) |
Total |
624 |
539 |
(14) | ||||||