Quarterly statistics
2013 |
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2014 |
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Q1 |
Q2 |
Q3 |
Q4 |
year |
in € millions |
Q1 |
Q2 |
Q3 |
year-to-date |
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Revenue |
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925 |
1,179 |
1,136 |
934 |
4,174 |
Decorative Paints |
865 |
1,074 |
1,050 |
2,989 |
|||||||||
1,331 |
1,458 |
1,415 |
1,367 |
5,571 |
Performance Coatings |
1,319 |
1,434 |
1,420 |
4,173 |
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1,244 |
1,253 |
1,252 |
1,200 |
4,949 |
Specialty Chemicals |
1,222 |
1,228 |
1,239 |
3,689 |
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(35) |
(25) |
(25) |
(19) |
(104) |
Other activities/eliminations |
(23) |
(26) |
(23) |
(72) |
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3,465 |
3,865 |
3,778 |
3,482 |
14,590 |
Total |
3,383 |
3,710 |
3,686 |
10,779 |
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EBITDA |
||||||||||||||||||
88 |
141 |
146 |
(13) |
362 |
Decorative Paints |
56 |
141 |
150 |
347 |
|||||||||
163 |
197 |
193 |
110 |
663 |
Performance Coatings |
163 |
212 |
170 |
545 |
|||||||||
174 |
198 |
185 |
169 |
726 |
Specialty Chemicals |
204 |
204 |
232 |
640 |
|||||||||
(50) |
(62) |
(68) |
(58) |
(238) |
Other activities/eliminations |
(59) |
(48) |
(65) |
(172) |
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375 |
474 |
456 |
208 |
1,513 |
Total |
364 |
509 |
487 |
1,360 |
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10.8 |
12.3 |
12.1 |
6.0 |
10.4 |
EBITDA margin (in %) |
10.8 |
13.7 |
13.2 |
12.6 |
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Depreciation |
||||||||||||||||||
(28) |
(28) |
(24) |
(26) |
(106) |
Decorative Paints |
(27) |
(26) |
(27) |
(80) |
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(25) |
(25) |
(24) |
(28) |
(102) |
Performance Coatings |
(27) |
(24) |
(25) |
(76) |
|||||||||
(62) |
(64) |
(66) |
(65) |
(257) |
Specialty Chemicals |
(60) |
(64) |
(64) |
(188) |
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(4) |
(2) |
(3) |
2 |
(7) |
Other activities/eliminations |
(3) |
(3) |
(3) |
(9) |
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(119) |
(119) |
(117) |
(117) |
(472) |
Total |
(117) |
(117) |
(119) |
(353) |
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Amortization |
||||||||||||||||||
(17) |
(11) |
(15) |
(13) |
(56) |
Decorative Paints |
(12) |
(13) |
(10) |
(35) |
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(9) |
(9) |
(9) |
(9) |
(36) |
Performance Coatings |
(10) |
(10) |
(10) |
(30) |
|||||||||
(13) |
(13) |
(12) |
(13) |
(51) |
Specialty Chemicals |
(9) |
(16) |
(12) |
(37) |
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– |
– |
(1) |
– |
(1) |
Other activities/eliminations |
– |
– |
(1) |
(1) |
|||||||||
(39) |
(33) |
(37) |
(35) |
(144) |
Total |
(31) |
(39) |
(33) |
(103) |
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EBIT |
||||||||||||||||||
43 |
102 |
107 |
(52) |
200 |
Decorative Paints |
17 |
102 |
113 |
232 |
|||||||||
129 |
163 |
160 |
73 |
525 |
Performance Coatings |
126 |
178 |
135 |
439 |
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99 |
121 |
107 |
91 |
418 |
Specialty Chemicals |
135 |
124 |
156 |
415 |
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(54) |
(64) |
(71) |
(57) |
(246) |
Other activities/eliminations |
(62) |
(51) |
(69) |
(182) |
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217 |
322 |
303 |
55 |
897 |
Total |
216 |
353 |
335 |
904 |
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6.3 |
8.3 |
8.0 |
1.6 |
6.1 |
EBIT margin (in %) |
6.4 |
9.5 |
9.1 |
8.4 |
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Operating income |
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43 |
102 |
107 |
146 |
398 |
Decorative Paints |
17 |
102 |
113 |
232 |
|||||||||
129 |
163 |
160 |
73 |
525 |
Performance Coatings |
126 |
178 |
135 |
439 |
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99 |
121 |
107 |
(30) |
297 |
Specialty Chemicals |
135 |
124 |
156 |
415 |
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(54) |
(64) |
(71) |
(73) |
(262) |
Other activities/eliminations |
(62) |
(51) |
(69) |
(182) |
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217 |
322 |
303 |
116 |
958 |
Total |
216 |
353 |
335 |
904 |
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6.3 |
8.3 |
8.0 |
3.3 |
6.6 |
ROS% |
6.4 |
9.5 |
9.1 |
8.4 |
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Incidentals per Business Area |
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– |
– |
– |
198 |
198 |
Decorative Paints |
– |
– |
– |
– |
|||||||||
– |
– |
– |
– |
– |
Performance Coatings |
– |
– |
– |
– |
|||||||||
– |
– |
– |
(121) |
(121) |
Specialty Chemicals |
– |
– |
– |
– |
|||||||||
– |
– |
– |
(16) |
(16) |
Other activities/eliminations |
– |
– |
– |
– |
|||||||||
– |
– |
– |
61 |
61 |
Total |
– |
– |
– |
– |
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Incidentals included in operating income |
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– |
– |
– |
– |
– |
Restructuring costs |
– |
– |
– |
– |
|||||||||
– |
– |
– |
(139) |
(139) |
Impairment |
– |
– |
– |
– |
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– |
– |
– |
– |
– |
Results related to major legal and environmental cases |
– |
– |
– |
– |
|||||||||
– |
– |
– |
216 |
216 |
Results on acquisitions and divestments |
– |
– |
– |
– |
|||||||||
– |
– |
– |
(16) |
(16) |
Other incidental results |
– |
– |
– |
– |
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|
|
|
61 |
61 |
Total |
– |
– |
– |
– |
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Reconciliation net financing expense |
||||||||||||||||||
9 |
8 |
6 |
9 |
32 |
Financing income |
12 |
9 |
9 |
30 |
|||||||||
(56) |
(57) |
(54) |
(54) |
(221) |
Financing expenses |
(44) |
(37) |
(36) |
(117) |
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(47) |
(49) |
(48) |
(45) |
(189) |
Net interest on net debt |
(32) |
(28) |
(27) |
(87) |
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Other interest movements |
||||||||||||||||||
(5) |
(5) |
(5) |
(6) |
(21) |
Financing expenses related to pensions |
(5) |
(4) |
(4) |
(13) |
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(12) |
15 |
(8) |
(3) |
(8) |
Interest on provisions |
(4) |
(11) |
(8) |
(23) |
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1 |
6 |
5 |
6 |
18 |
Other items |
4 |
3 |
1 |
8 |
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(16) |
16 |
(8) |
(3) |
(11) |
Net other financing charges |
(5) |
(12) |
(11) |
(28) |
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(63) |
(33) |
(56) |
(48) |
(200) |
Net financing expenses |
(37) |
(40) |
(38) |
(115) |
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Quarterly net income analysis |
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3 |
6 |
4 |
1 |
14 |
Results from associates and joint ventures |
6 |
6 |
6 |
18 |
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(16) |
(25) |
(14) |
(13) |
(68) |
Profit attributable to non-controlling interests |
(16) |
(24) |
(16) |
(56) |
|||||||||
157 |
295 |
251 |
69 |
772 |
Profit before tax |
185 |
319 |
303 |
807 |
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(45) |
38 |
(83) |
(21) |
(111) |
Income tax |
(43) |
(89) |
(84) |
(216) |
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112 |
333 |
168 |
48 |
661 |
Profit for the period from continuing operations |
142 |
230 |
219 |
591 |
|||||||||
29 |
(13) |
33 |
30 |
14 |
Effective tax rate (in %) |
23 |
28 |
28 |
27 |
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Earnings per share from continuing operations (in €) |
||||||||||||||||||
0.40 |
1.28 |
0.64 |
0.14 |
2.46 |
Basic |
0.52 |
0.84 |
0.83 |
2.19 |
|||||||||
0.40 |
1.27 |
0.64 |
0.14 |
2.44 |
Diluted |
0.52 |
0.83 |
0.82 |
2.17 |
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Earnings per share from discontinued operations (in €) |
||||||||||||||||||
(0.03) |
0.50 |
– |
0.07 |
0.54 |
Basic |
0.01 |
– |
0.01 |
0.02 |
|||||||||
(0.03) |
0.50 |
– |
0.07 |
0.54 |
Diluted |
0.01 |
– |
0.01 |
0.02 |
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Earnings per share from total operations (in €) |
||||||||||||||||||
0.37 |
1.78 |
0.64 |
0.21 |
3.00 |
Basic |
0.53 |
0.84 |
0.84 |
2.21 |
|||||||||
0.37 |
1.77 |
0.64 |
0.21 |
2.98 |
Diluted |
0.53 |
0.83 |
0.83 |
2.19 |
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Number of shares (in millions) |
||||||||||||||||||
239.4 |
241.0 |
242.1 |
242.4 |
241.2 |
Weighted average number of shares |
243.0 |
244.4 |
245.4 |
244.3 |
|||||||||
239.8 |
242.1 |
242.1 |
242.6 |
242.6 |
Number of shares at end of quarter |
243.4 |
245.4 |
245.4 |
245.4 |
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Adjusted earnings (in € millions) |
||||||||||||||||||
157 |
295 |
251 |
69 |
772 |
Profit before tax from continuing operations |
185 |
319 |
303 |
807 |
|||||||||
– |
– |
– |
(61) |
(61) |
Incidentals reported in operating income |
– |
– |
– |
– |
|||||||||
39 |
33 |
36 |
36 |
144 |
Amortization of intangible assets |
31 |
39 |
33 |
103 |
|||||||||
(57) |
28 |
(93) |
(34) |
(156) |
Adjusted income tax |
(52) |
(101) |
(94) |
(247) |
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(16) |
(25) |
(14) |
(13) |
(68) |
Non-controlling interests |
(16) |
(24) |
(16) |
(56) |
|||||||||
123 |
331 |
180 |
(3) |
631 |
Adjusted net income for continuing operations |
148 |
233 |
226 |
607 |
|||||||||
0.51 |
1.37 |
0.74 |
(0.01) |
2.62 |
Adjusted earnings per share (in €) |
0.61 |
0.95 |
0.92 |
2.48 |
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