Quarterly statistics
|
|
|
|
2014 |
|
|
|
2015 |
||||||||
Q1 |
Q2 |
Q3 |
Q4 |
year |
in € millions |
Q1 |
Q2 |
year-to-date |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Revenue |
|
|
|
|||||||||||||
865 |
1,074 |
1,050 |
920 |
3,909 |
Decorative Paints |
890 |
1,134 |
2,024 |
||||||||
1,319 |
1,434 |
1,420 |
1,416 |
5,589 |
Performance Coatings |
1,430 |
1,550 |
2,980 |
||||||||
1,222 |
1,228 |
1,239 |
1,194 |
4,883 |
Specialty Chemicals |
1,296 |
1,290 |
2,586 |
||||||||
(23) |
(26) |
(23) |
(13) |
(85) |
Other activities/eliminations |
(25) |
(25) |
(50) |
||||||||
3,383 |
3,710 |
3,686 |
3,517 |
14,296 |
Total |
3,591 |
3,949 |
7,540 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
EBITDA |
|
|
|
|||||||||||||
56 |
141 |
150 |
58 |
405 |
Decorative Paints |
88 |
165 |
253 |
||||||||
163 |
212 |
170 |
142 |
687 |
Performance Coatings |
206 |
257 |
463 |
||||||||
204 |
204 |
232 |
175 |
815 |
Specialty Chemicals |
242 |
243 |
485 |
||||||||
(59) |
(48) |
(65) |
(45) |
(217) |
Other activities/eliminations |
(74) |
(55) |
(129) |
||||||||
364 |
509 |
487 |
330 |
1,690 |
Total |
462 |
610 |
1,072 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
10.8 |
13.7 |
13.2 |
9.4 |
11.8 |
EBITDA margin (in %) |
12.9 |
15.4 |
14.2 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Depreciation |
|
|
|
|||||||||||||
(27) |
(26) |
(27) |
(29) |
(109) |
Decorative Paints |
(26) |
(26) |
(52) |
||||||||
(27) |
(24) |
(25) |
(25) |
(101) |
Performance Coatings |
(25) |
(26) |
(51) |
||||||||
(60) |
(64) |
(64) |
(68) |
(256) |
Specialty Chemicals |
(66) |
(68) |
(134) |
||||||||
(3) |
(3) |
(3) |
(2) |
(11) |
Other activities/eliminations |
(3) |
(3) |
(6) |
||||||||
(117) |
(117) |
(119) |
(124) |
(477) |
Total |
(120) |
(123) |
(243) |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Amortization |
|
|
|
|||||||||||||
(12) |
(13) |
(10) |
(13) |
(48) |
Decorative Paints |
(12) |
(11) |
(23) |
||||||||
(10) |
(10) |
(10) |
(11) |
(41) |
Performance Coatings |
(11) |
(11) |
(22) |
||||||||
(9) |
(16) |
(12) |
(14) |
(51) |
Specialty Chemicals |
(13) |
(13) |
(26) |
||||||||
– |
– |
(1) |
– |
(1) |
Other activities/eliminations |
– |
– |
– |
||||||||
(31) |
(39) |
(33) |
(38) |
(141) |
Total |
(36) |
(35) |
(71) |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Operating income excluding incidentals |
|
|
|
|||||||||||||
17 |
102 |
113 |
16 |
248 |
Decorative Paints |
50 |
128 |
178 |
||||||||
126 |
178 |
135 |
106 |
545 |
Performance Coatings |
170 |
220 |
390 |
||||||||
135 |
124 |
156 |
93 |
508 |
Specialty Chemicals |
163 |
162 |
325 |
||||||||
(62) |
(51) |
(69) |
(47) |
(229) |
Other activities/eliminations |
(77) |
(58) |
(135) |
||||||||
216 |
353 |
335 |
168 |
1,072 |
Total |
306 |
452 |
758 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Operating income |
|
|
|
|||||||||||||
17 |
102 |
113 |
16 |
248 |
Decorative Paints |
50 |
128 |
178 |
||||||||
126 |
178 |
135 |
106 |
545 |
Performance Coatings |
170 |
220 |
390 |
||||||||
135 |
124 |
156 |
93 |
508 |
Specialty Chemicals |
163 |
192 |
355 |
||||||||
(62) |
(51) |
(69) |
(132) |
(314) |
Other activities/eliminations |
(77) |
(54) |
(131) |
||||||||
216 |
353 |
335 |
83 |
987 |
Total |
306 |
486 |
792 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
6.4 |
9.5 |
9.1 |
2.4 |
6.9 |
ROS (in %) |
8.5 |
12.3 |
10.5 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Incidentals per Business Area |
|
|
|
|||||||||||||
– |
– |
– |
– |
– |
Decorative Paints |
– |
– |
– |
||||||||
– |
– |
– |
– |
– |
Performance Coatings |
– |
– |
– |
||||||||
– |
– |
– |
– |
– |
Specialty Chemicals |
– |
30 |
30 |
||||||||
– |
– |
– |
(85) |
(85) |
Other activities/eliminations |
– |
4 |
4 |
||||||||
– |
– |
– |
(85) |
(85) |
Total |
– |
34 |
34 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Reconciliation net financing expense |
|
|
|
|||||||||||||
12 |
9 |
9 |
12 |
42 |
Financing income |
10 |
4 |
14 |
||||||||
(44) |
(37) |
(36) |
(40) |
(157) |
Financing expenses |
(38) |
(31) |
(69) |
||||||||
(32) |
(28) |
(27) |
(28) |
(115) |
Net interest on net debt |
(28) |
(27) |
(55) |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Other interest movements |
|
|
|
|||||||||||||
(5) |
(4) |
(4) |
(5) |
(18) |
Financing expenses related to pensions |
(4) |
(3) |
(7) |
||||||||
(4) |
(11) |
(8) |
(9) |
(32) |
Interest on provisions |
(9) |
(1) |
(10) |
||||||||
4 |
3 |
1 |
1 |
9 |
Other items |
– |
4 |
4 |
||||||||
(5) |
(12) |
(11) |
(13) |
(41) |
Net other financing charges |
(13) |
– |
(13) |
||||||||
(37) |
(40) |
(38) |
(41) |
(156) |
Net financing expenses |
(41) |
(27) |
(68) |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Quarterly net income analysis |
|
|
|
|||||||||||||
6 |
6 |
6 |
3 |
21 |
Results from associates and joint ventures |
(2) |
8 |
6 |
||||||||
(16) |
(24) |
(16) |
(16) |
(72) |
Profit attributable to non-controlling interests |
(18) |
(27) |
(45) |
||||||||
185 |
319 |
303 |
45 |
852 |
Profit before tax |
263 |
467 |
730 |
||||||||
(43) |
(89) |
(84) |
(36) |
(252) |
Income tax |
(82) |
(108) |
(190) |
||||||||
142 |
230 |
219 |
9 |
600 |
Profit for the period from continuing operations |
181 |
359 |
540 |
||||||||
23 |
28 |
28 |
80 |
30 |
Effective tax rate (in %) |
31 |
23 |
26 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Earnings per share from continuing operations (in €) |
|
|
|
|||||||||||||
0.52 |
0.84 |
0.83 |
(0.03) |
2.16 |
Basic |
0.66 |
1.35 |
2.01 |
||||||||
0.52 |
0.83 |
0.82 |
(0.03) |
2.15 |
Diluted |
0.66 |
1.34 |
2.00 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Earnings per share from discontinued operations (in €) |
|
|
|
|||||||||||||
0.01 |
– |
0.01 |
0.06 |
0.07 |
Basic |
(0.01) |
(0.01) |
(0.02) |
||||||||
0.01 |
– |
0.01 |
0.06 |
0.07 |
Diluted |
(0.01) |
(0.01) |
(0.02) |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Earnings per share from total operations (in €) |
|
|
|
|||||||||||||
0.53 |
0.84 |
0.84 |
0.03 |
2.23 |
Basic |
0.65 |
1.34 |
1.99 |
||||||||
0.53 |
0.83 |
0.83 |
0.03 |
2.22 |
Diluted |
0.65 |
1.33 |
1.98 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Number of shares (in millions) |
|
|
|
|||||||||||||
243.0 |
244.4 |
245.4 |
245.7 |
244.7 |
Weighted average number of shares |
246.4 |
247.7 |
247.1 |
||||||||
243.4 |
245.4 |
245.4 |
246.0 |
246.0 |
Number of shares at end of quarter |
246.9 |
248.4 |
248.4 |
||||||||
|
|
|
|
|
|
|
|
|
||||||||
Adjusted earnings (in € millions) |
|
|
|
|||||||||||||
185 |
319 |
303 |
45 |
852 |
Profit before tax from continuing operations |
263 |
467 |
730 |
||||||||
– |
– |
– |
85 |
85 |
Incidentals reported in operating income |
– |
(34) |
(34) |
||||||||
31 |
39 |
33 |
38 |
141 |
Amortization of intangible assets |
36 |
35 |
71 |
||||||||
(52) |
(101) |
(94) |
(72) |
(319) |
Adjusted income tax |
(93) |
(118) |
(211) |
||||||||
(16) |
(24) |
(16) |
(16) |
(72) |
Non-controlling interests |
(18) |
(27) |
(45) |
||||||||
148 |
233 |
226 |
80 |
687 |
Adjusted net income for continuing operations |
188 |
323 |
511 |
||||||||
0.61 |
0.95 |
0.92 |
0.33 |
2.81 |
Adjusted earnings per share (in €) |
0.76 |
1.30 |
2.07 |
||||||||