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BASF Group business review 3Q 2011: regional results
FOCUS BASF Group business review 3Q 2011: regional results In 3Q 2011 BASF’s sales in Europe were €9.355 bn (+12% compared with 3Q 2010). The Performance Products segment made a substantial contribution to this development, thanks to the acquired Cognis businesses. The Chemicals segment also strongly supported sales growth; in the Petrochemicals division in particular, BASF was able to pass on higher raw material costs to the market. Earnings fell by €374 M to €1.234 bn, primarily as a result of the suspension of oil production in Libya. Sales in N America grew by 16% in US dollars and by 7% in Euro terms (to €3.545 bn). The acquisition of the Cognis businesses strengthened regional sales growth considerably. BASF’s chemicals business developed positively overall. Agricultural Solutions increased sales thanks to a weather-related shift of the application period for corn and soya bean fungicides. Earnings at €301 M were €63 M above the level of 3Q 2010. Sales in the Asia Pacific region grew by 17% in local-currency terms and by 12% in Euro terms (to €3.424 bn). This rise in sales was mainly driven by price increases in the Petrochemicals division due to higher raw material costs, as well as good demand in the Catalysts division and for intermediates in the Performance Polymers division. Largely due to lower margins in the Polyurethanes division, earnings did not match the level of 3Q 2010, decreasing by €48 M to €259 M. In S America, Africa, and Middle East, sales increased by 24% in local currencies and by 17% in Euro terms (to €1.283 bn). BASF businesses with crop protection products and architectural coatings developed very successfully in S America; sales grew strongly in the Agricultural Solutions segment and the
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Coatings division. Earnings improved by €110 M to €170 M. 3Q 2010 included one-time charges for valuation adjustments on receivables related to long-term supply agreements. BASF Group Business Review 3Q 2011, 27 Oct 2011, (BASF SE, D-67056 Ludwigshafen, Germany, tel: +49 (0) 621 600, website: http://www.basf.com)
AkzoNobel report for 3Q 2011: Performance Coatings For its 3Q 2011 (period ends 30 Sep 2011), the Performance Coatings division of AkzoNobel has reported revenue of €1295 M (€1239 M for its 3Q 2010), of which: Marine & Protective Coatings accounted for €344 M (€334 M), Wood Finishes & Adhesives €197 M (€201 M), Automotive & Aerospace Coatings €248 M (€251 M), Powder Coatings €236 M (€222 M), and Industrial Coatings €275 M (€235 M); EBITDA of €157 M (€166 M), EBIT of €129 M (€140 M), operating income of €114 M (€129 M), and capital expenditure of €27 M (€21 M). For the first nine-months of its fiscal 2011, this division has reported revenue of €3844 M (€3548 M for the same period of its fiscal 2010), of which: Marine & Protective Coatings accounted for €1025 M (€996 M), Wood Finishes & Adhesives €586 M (€591 M), Automotive & Aerospace Coatings €772 M (€738 M), Powder Coatings €705 M (€574 M), and Industrial Coatings €776 M (€660M); EBITDA of €470 M (€500 M), EBIT of €386 M (€421 M), operating income of €375 M (€383 M), capital expenditure of €73 M (€51 M), and headcount of 21,000 (21,030). There is discussion of the business and of the results for each segment. AkzoNobel Results 3Q 2011, 20 Oct 11, 8-9 (AkzoNobel, Strawinskylaan 2555, PO Box 75730, 1070 AS Amsterdam, the Netherlands, tel: +31 20 502 7555, fax: +31 20 502 7666, website: http://www.akzonobel.com)
C O AT I N G S DSM Coating Resins outlines organizational alignment DSM Coating Resins, a business unit of Royal DSM NV, has outlined plans to align the organization with its sharpened strategic focus on its core coating and graphic arts resins markets. As part of these plans, the business unit aims to capture additional synergies from the merger of two business units (formerly known as DSM Powder Coating Resins and DSM NeoResins+) announced earlier in 2011. At the same time, DSM aims to further improve the financial performance of this newly formed business unit, which is necessary also due to the challenging economic circumstances and weak Building & Construction markets especially in Europe and North America. As a result of the alignment, the number of worldwide positions at DSM Coating Resins will be reduced by 150 FTE. This will allow the company to effectively and efficiently continue to grow its position as the leading coating resins supplier for developing innovative building blocks for sustainable coating systems. Patrick Niels, Business Unit Director, DSM Coating Resins, comments: “DSM Coating Resins will continue its drive to develop resins for innovative, sustainable coating solutions, such as waterbased, powder and UV coating systems. In order to do that, we need to ensure sufficient financial returns. This organizational alignment will address our cost base, as well as sharpen our focus on developments in our core technologies and segments. This will allow us to continue to invest in developing innovative sustainable resin systems for our customers, while at the same time safeguarding our returns also in an economically challenging environment.” Press release from: DSM, PO Box 6500, 6401 JH Heerlen, The Netherlands, tel: +31 45 578 2422, fax: +31 45 574 0680, website: http://www.dsm.com (4 Nov 2011)
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JANUARY 2012
ON
POWDER
Coatings division. Earnings improved by €110 M to €170 M. 3Q 2010 included one-time charges for valuation adjustments on receivables related to long-term supply agreements. BASF Group Business Review 3Q 2011, 27 Oct 2011, (BASF SE, D-67056 Ludwigshafen, Germany, tel: +49 (0) 621 600, website: http://www.basf.com)
AkzoNobel report for 3Q 2011: Performance Coatings For its 3Q 2011 (period ends 30 Sep 2011), the Performance Coatings division of AkzoNobel has reported revenue of €1295 M (€1239 M for its 3Q 2010), of which: Marine & Protective Coatings accounted for €344 M (€334 M), Wood Finishes & Adhesives €197 M (€201 M), Automotive & Aerospace Coatings €248 M (€251 M), Powder Coatings €236 M (€222 M), and Industrial Coatings €275 M (€235 M); EBITDA of €157 M (€166 M), EBIT of €129 M (€140 M), operating income of €114 M (€129 M), and capital expenditure of €27 M (€21 M). For the first nine-months of its fiscal 2011, this division has reported revenue of €3844 M (€3548 M for the same period of its fiscal 2010), of which: Marine & Protective Coatings accounted for €1025 M (€996 M), Wood Finishes & Adhesives €586 M (€591 M), Automotive & Aerospace Coatings €772 M (€738 M), Powder Coatings €705 M (€574 M), and Industrial Coatings €776 M (€660M); EBITDA of €470 M (€500 M), EBIT of €386 M (€421 M), operating income of €375 M (€383 M), capital expenditure of €73 M (€51 M), and headcount of 21,000 (21,030). There is discussion of the business and of the results for each segment. AkzoNobel Results 3Q 2011, 20 Oct 11, 8-9 (AkzoNobel, Strawinskylaan 2555, PO Box 75730, 1070 AS Amsterdam, the Netherlands, tel: +31 20 502 7555, fax: +31 20 502 7666, website: http://www.akzonobel.com)
C O AT I N G S DSM Coating Resins outlines organizational alignment DSM Coating Resins, a business unit of Royal DSM NV, has outlined plans to align the organization with its sharpened strategic focus on its core coating and graphic arts resins markets. As part of these plans, the business unit aims to capture additional synergies from the merger of two business units (formerly known as DSM Powder Coating Resins and DSM NeoResins+) announced earlier in 2011. At the same time, DSM aims to further improve the financial performance of this newly formed business unit, which is necessary also due to the challenging economic circumstances and weak Building & Construction markets especially in Europe and North America. As a result of the alignment, the number of worldwide positions at DSM Coating Resins will be reduced by 150 FTE. This will allow the company to effectively and efficiently continue to grow its position as the leading coating resins supplier for developing innovative building blocks for sustainable coating systems. Patrick Niels, Business Unit Director, DSM Coating Resins, comments: “DSM Coating Resins will continue its drive to develop resins for innovative, sustainable coating solutions, such as waterbased, powder and UV coating systems. In order to do that, we need to ensure sufficient financial returns. This organizational alignment will address our cost base, as well as sharpen our focus on developments in our core technologies and segments. This will allow us to continue to invest in developing innovative sustainable resin systems for our customers, while at the same time safeguarding our returns also in an economically challenging environment.” Press release from: DSM, PO Box 6500, 6401 JH Heerlen, The Netherlands, tel: +31 45 578 2422, fax: +31 45 574 0680, website: http://www.dsm.com (4 Nov 2011)
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