Our results at a glance

Q2:

• Revenue up 6 percent to €3.9 billion, due to 9 percent favorable currency effects, offset by divestments and lower volume
• Operating income up 38 percent at €486 million (2014: €353 million), reflecting the positive effects of process optimization, lower costs, reduced restructuring expenses, divestment results and favorable currency developments
• ROS improved to 12.3 percent (2014: 9.5 percent); excluding incidental items, ROS was 11.4 percent (2014: 9.5 percent); ROI improved to 11.7 percent (2014: 10.1 percent)
• Net income attributable to shareholders up 61 percent at €331 million (2014: €205 million)
• Adjusted EPS up 37 percent at €1.30 (2014: €0.95)
• Net cash inflow from operating activities €407 million (2014: €393 million)
• Divestment of the Paper Chemicals business completed

Outlook:

• The market trend in North America continues to be positive with Europe not improving. Conditions remain challenging in many other countries, including Russia, Brazil and China
• On track to deliver 2015 targets