Operating income

• In Decorative Paints, operating income was up 25 percent due to the new operating model, lower costs, reduced restructuring expenses, strict cost containment and favorable currency developments
• In Performance Coatings, operating income was up 24 percent driven by cost reductions from performance improvement initiatives, margin management activities, manufacturing productivity, and favorable currencies
• In Specialty Chemicals, operating income was up 55 percent (31 percent excluding incidental items related to the divestment of the Paper Chemicals business). Results were supported by the increase of production at the new Frankfurt plant, operational efficiencies throughout the business and favorable currency developments

Total restructuring charges in the second quarter amounted to €24 million (2014: €45 million), excluding restructuring charges linked to the divestment of the Paper Chemicals business included in incidental items.

Raw material prices were lower, although in certain regions foreign currency effects have adversely impacted raw material costs in local currencies.