- Index
- 14 NOTE B14 Advanced Materials
- 15 NOTE B15 Advanced Formulations
- 16 NOTE B16 Performance Chemicals
- 17 NOTE B17 Corporate & Business Services
in € million |
FY 2019 |
FY 2018 PF |
% yoy |
Net sales |
2,879 |
2,808 |
+2.5% |
Soda Ash & Derivatives |
1,661 |
1,562 |
+6.3% |
Peroxides |
683 |
654 |
+4.4% |
Coatis |
535 |
591 |
–9.6% |
EBITDA |
852 |
761 |
+12% |
EBITDA margin |
29.6% |
27.1% |
+2.5pp |
EBIT |
639 |
556 |
+15% |
EBIT margin |
22.2% |
19.8% |
+2.4% |
Capex in continuing operations |
(177) |
(175) |
–0.9% |
Cash conversion |
79.3% |
77.0% |
+2.3pp |
CFROI |
8.5% |
8.1% |
+0.5pp |
Research & innovation |
(25) |
(27) |
+5.9% |
Research & innovation intensity |
0.9% |
1.0% |
–0.1pp |
Net sales evolution
FY yoy net sales bridge (in € million)
Full year net sales in the segment were up +2.5% and +2.2% organically[8], reflecting the higher contract prices for soda ash and peroxides, and more than offsetting lower sales in Coatis, which compare to a very strong 2018.
Full year underlying EBITDA grew +12% and +10% organically[8] driven by higher prices. Productivity gains, favorable energy costs and a strong contribution from the Russian PVC joint venture also contributed positively to the performance. A one-time gain of €12 million was booked in the second quarter on the settlement of an energy contract in the soda ash business. The EBITDA margin was up +2.5pp at 30%.
[8] Organic growth excludes forex conversion and scope effects, as well as the effect from the implementation of IFRS 16. Reported growth compares to the published 2018 pro forma figures, adjusted for the implementation of IFRS 16