Quarterly statistics

2013

  

 

  

 

  

 

  

2014

Q1

  

Q2

  

Q3

  

Q4

  

year

  

in € millions

  

Q1

  

Q2

  

year-to-date

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Revenue

  

 

  

 

  

 

  

 

925

  

1,179

  

1,136

  

934

  

4,174

  

Decorative Paints

  

865

  

1,074

  

1,939

1,331

  

1,458

  

1,415

  

1,367

  

5,571

  

Performance Coatings

  

1,319

  

1,434

  

2,753

1,244

  

1,253

  

1,252

  

1,200

  

4,949

  

Specialty Chemicals

  

1,222

  

1,228

  

2,450

(35)

  

(25)

  

(25)

  

(19)

  

(104)

  

Other activities/eliminations

  

(23)

  

(26)

  

(49)

3,465

  

3,865

  

3,778

  

3,482

  

14,590

  

Total

  

3,383

  

3,710

  

7,093

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

EBITDA

  

 

  

 

  

 

  

 

88

  

141

  

146

  

(13)

  

362

  

Decorative Paints

  

56

  

141

  

197

163

  

197

  

193

  

110

  

663

  

Performance Coatings

  

163

  

212

  

375

174

  

198

  

185

  

169

  

726

  

Specialty Chemicals

  

204

  

204

  

408

(50)

  

(62)

  

(68)

  

(58)

  

(238)

  

Other activities/eliminations

  

(59)

  

(48)

  

(107)

375

  

474

  

456

  

208

  

1,513

  

Total

  

364

  

509

  

873

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

10.8

  

12.3

  

12.1

  

6.0

  

10.4

  

EBITDA margin (in %)

  

10.8

  

13.7

  

12.3

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Depreciation

  

 

  

 

  

 

  

 

(28)

  

(28)

  

(24)

  

(26)

  

(106)

  

Decorative Paints

  

(27)

  

(26)

  

(53)

(25)

  

(25)

  

(24)

  

(28)

  

(102)

  

Performance Coatings

  

(27)

  

(24)

  

(51)

(62)

  

(64)

  

(66)

  

(65)

  

(257)

  

Specialty Chemicals

  

(60)

  

(64)

  

(124)

(4)

  

(2)

  

(3)

  

2

  

(7)

  

Other activities/eliminations

  

(3)

  

(3)

  

(6)

(119)

  

(119)

  

(117)

  

(117)

  

(472)

  

Total

  

(117)

  

(117)

  

(234)

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Amortization

  

 

  

 

  

 

  

 

(17)

  

(11)

  

(15)

  

(13)

  

(56)

  

Decorative Paints

  

(12)

  

(13)

  

(25)

(9)

  

(9)

  

(9)

  

(9)

  

(36)

  

Performance Coatings

  

(10)

  

(10)

  

(20)

(13)

  

(13)

  

(12)

  

(13)

  

(51)

  

Specialty Chemicals

  

(9)

  

(16)

  

(25)

–

  

–

  

(1)

  

–

  

(1)

  

Other activities/eliminations

  

–

  

–

  

–

(39)

  

(33)

  

(37)

  

(35)

  

(144)

  

Total

  

(31)

  

(39)

  

(70)

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

EBIT

  

 

  

 

  

 

  

 

43

  

102

  

107

  

(52)

  

200

  

Decorative Paints

  

17

  

102

  

119

129

  

163

  

160

  

73

  

525

  

Performance Coatings

  

126

  

178

  

304

99

  

121

  

107

  

91

  

418

  

Specialty Chemicals

  

135

  

124

  

259

(54)

  

(64)

  

(71)

  

(57)

  

(246)

  

Other activities/eliminations

  

(62)

  

(51)

  

(113)

217

  

322

  

303

  

55

  

897

  

Total

  

216

  

353

  

569

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

6.3

  

8.3

  

8.0

  

1.6

  

6.1

  

EBIT margin (in %)

  

6.4

  

9.5

  

8.0

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Operating income

  

 

  

 

  

 

  

 

43

  

102

  

107

  

146

  

398

  

Decorative Paints

  

17

  

102

  

119

129

  

163

  

160

  

73

  

525

  

Performance Coatings

  

126

  

178

  

304

99

  

121

  

107

  

(30)

  

297

  

Specialty Chemicals

  

135

  

124

  

259

(54)

  

(64)

  

(71)

  

(73)

  

(262)

  

Other activities/eliminations

  

(62)

  

(51)

  

(113)

217

  

322

  

303

  

116

  

958

  

Total

  

216

  

353

  

569

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

6.3

  

8.3

  

8.0

  

3.3

  

6.6

  

ROS% before impairment

  

6.4

  

9.5

  

8.0

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Incidentals per Business Area

–

  

–

  

–

  

198

  

198

  

Decorative Paints

  

–

  

–

  

–

–

  

–

  

–

  

–

  

–

  

Performance Coatings

  

–

  

–

  

–

–

  

–

  

–

  

(121)

  

(121)

  

Specialty Chemicals

  

–

  

–

  

–

–

  

–

  

–

  

(16)

  

(16)

  

Other activities/eliminations

  

–

  

–

  

–

–

  

–

  

–

  

61

  

61

  

Total

  

–

  

–

  

–

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Incidentals included in operating income

–

  

–

  

–

  

–

  

–

  

Restructuring costs

  

–

  

–

  

–

–

  

–

  

–

  

(139)

  

(139)

  

Impairment

  

–

  

–

  

–

–

  

–

  

–

  

–

  

–

  

Results related to major legal and environmental cases

  

–

  

–

  

–

–

  

–

  

–

  

216

  

216

  

Results on acquisitions and divestments

  

–

  

–

  

–

–

  

–

  

–

  

(16)

  

(16)

  

Other incidental results

  

–

  

–

  

–

–

  

–

  

–

  

61

  

61

  

Total

  

–

  

–

  

–

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Reconciliation net financing expense

9

  

8

  

6

  

9

  

32

  

Financing income

  

12

  

9

  

21

(56)

  

(57)

  

(54)

  

(54)

  

(221)

  

Financing expenses

  

(44)

  

(37)

  

(81)

(47)

  

(49)

  

(48)

  

(45)

  

(189)

  

Net interest on net debt

  

(32)

  

(28)

  

(60)

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Other interest movements

(5)

  

(5)

  

(5)

  

(6)

  

(21)

  

Financing expenses related to pensions

  

(5)

  

(4)

  

(9)

(12)

  

15

  

(8)

  

(3)

  

(8)

  

Interest on provisions

  

(4)

  

(11)

  

(15)

1

  

6

  

5

  

6

  

18

  

Other items

  

4

  

3

  

7

(16)

  

16

  

(8)

  

(3)

  

(11)

  

Net other financing charges

  

(5)

  

(12)

  

(17)

(63)

  

(33)

  

(56)

  

(48)

  

(200)

  

Net financing expenses

  

(37)

  

(40)

  

(77)

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Quarterly net income analysis

3

  

6

  

4

  

1

  

14

  

Results from associates and joint ventures

  

6

  

6

  

12

(16)

  

(25)

  

(14)

  

(13)

  

(68)

  

Profit attributable to non-controlling interests

  

(16)

  

(24)

  

(40)

157

  

295

  

251

  

69

  

772

  

Profit before tax

  

185

  

319

  

504

(45)

  

38

  

(83)

  

(21)

  

(111)

  

Income tax

  

(43)

  

(89)

  

(132)

112

  

333

  

168

  

48

  

661

  

Profit for the period from continuing operations

  

142

  

230

  

372

29

  

(13)

  

33

  

30

  

14

  

Effective tax rate (in %)

  

23

  

28

  

26

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Earnings per share from continuing operations (in €)

0.40

  

1.28

  

0.64

  

0.14

  

2.46

  

Basic

  

0.52

  

0.84

  

1.36

0.40

  

1.27

  

0.64

  

0.14

  

2.44

  

Diluted

  

0.52

  

0.83

  

1.35

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Earnings per share from discontinued operations (in €)

(0.03)

  

0.50

  

–

  

0.07

  

0.54

  

Basic

  

0.01

  

–

  

0.01

(0.03)

  

0.50

  

–

  

0.07

  

0.54

  

Diluted

  

0.01

  

–

  

0.01

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Earnings per share from total operations (in €)

0.37

  

1.78

  

0.64

  

0.21

  

3.00

  

Basic

  

0.53

  

0.84

  

1.37

0.37

  

1.77

  

0.64

  

0.21

  

2.98

  

Diluted

  

0.53

  

0.83

  

1.36

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Number of shares (in millions)

239.4

  

241.0

  

242.1

  

242.4

  

241.2

  

Weighted average number of shares

  

243.0

  

244.4

  

243.7

239.8

  

242.1

  

242.1

  

242.6

  

242.6

  

Number of shares at end of quarter

  

243.4

  

245.4

  

245.4

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Adjusted earnings (in € millions)

157

  

295

  

251

  

69

  

772

  

Profit before tax from continuing operations

  

185

  

319

  

504

–

  

–

  

–

  

(61)

  

(61)

  

Incidentals reported in operating income

  

–

  

–

  

–

39

  

33

  

36

  

36

  

144

  

Amortization of intangible assets

  

31

  

39

  

70

(57)

  

28

  

(93)

  

(34)

  

(156)

  

Adjusted income tax

  

(52)

  

(101)

  

(153)

(16)

  

(25)

  

(14)

  

(13)

  

(68)

  

Non-controlling interests

  

(16)

  

(24)

  

(40)

123

  

331

  

180

  

(3)

  

631

  

Adjusted net income for continuing operations

  

148

  

233

  

381

0.51

  

1.37

  

0.74

  

(0.01)

  

2.62

  

Adjusted earnings per share (in €)

  

0.61

  

0.95

  

1.56