It was a year of continued soft demand for Specialty Chemicals, with low activity being particularly evident in construction-related products, pulp bleaching and the plastics industries. In addition to the general slowdown in demand, new plant start-ups and extended maintenance stops earlier in the year impacted production temporarily. The results include a non-cash impairment charge of €139 million on a business held for sale. Focus on cost control and margin management was maintained in all businesses, with a comprehensive performance improvement program being implemented at Functional Chemicals.
Revenue in Q4 was down 9 percent, mainly due to the Chemicals Pakistan divestment and adverse currency effects, although volumes rose 3 percent compared with Q4 2012 with higher volumes in most businesses and the absence of the previous year’s production issues.
Revenue development 2013
Revenue development Q4 2013