NOTE B16 Performance Chemicals
- Index
- 14 NOTE B14 Advanced Materials
- 15 NOTE B15 Advanced Formulations
- 16 NOTE B16 Performance Chemicals
- 17 NOTE B17 Corporate & Business Services
in € million |
2017 |
2016 |
% yoy |
|||||
|
||||||||
Net sales |
2,766 |
2,581 |
7.2% |
|||||
Soda Ash & Derivatives |
1,629 |
1,561 |
4.4% |
|||||
Peroxides |
600 |
542 |
11% |
|||||
Coatis |
410 |
346 |
18% |
|||||
Functional Polymers |
126 |
131 |
(3.8)% |
|||||
EBITDA |
749 |
718 |
4.3% |
|||||
EBITDA margin |
27% |
28% |
(0.7)pp |
|||||
EBIT |
566 |
549 |
3.0% |
|||||
EBIT margin |
21% |
19% |
(0.8)pp |
|||||
CFROI(1) |
8.4% |
8.9% |
(0.5)pp |
|||||
Capex from continuing operations |
(152) |
(191) |
20% |
|||||
Cash conversion |
80% |
73% |
6.3pp |
|||||
Research & innovation(1) |
(29) |
(26) |
(10)% |
|||||
Research & innovation intensity(1) |
1.0% |
1.1% |
– |
|||||
Net sales evolution
FY yoy net sales bridge (in €million)
Net sales grew 7% to €2,766 million on the back of higher volumes. In Soda Ash & Derivatives, sales increased by 4% thanks to higher soda ash volumes for the seaborne market, and despite slightly lower prices. Bicarbonate sales growth was even stronger, at a high single-digit, supported by the ramp-up of the new plant in Thailand in the first part of the year. Peroxides sales were up 11%, as the supply contract for the new HPPO plant in Saudi Arabia took effect at the start of the year and the new Chinese plant ramped up, offsetting lower sales in the bulk market and specialties. Coatis sales grew 18%, thanks mainly to a price increase policy and modest volume growth, showing signs of recovery in the domestic Latin American market. This was also the case for the retained polyamide activities in Latin America, which are part of the Functional Polymers business unit. The sales decrease is linked to the sale of a smaller residual PVC compounding activity in September 2017.