Operating income

  • Decorative Paints operating income for the quarter was lower than the previous year due to adverse currency effects and higher restructuring costs in mature markets
  • In Performance Coatings, operating income was down 2 percent due to higher restructuring costs and adverse currency effects. Variability across individual businesses, and within regions, continued
  • In Specialty Chemicals, profitability increased compared with 2013, despite currencies, due to better market conditions in Functional Chemicals and benefits from restructuring

Average raw material costs were slightly down on Q1 2013 and stable compared with 2013 exit prices.

Total restructuring charges amounted to €44 million (2013: €29 million). Excluding these, ROS% was 7.7 percent (2013: 7.1 percent). The majority of the restructuring charges related to Decorative Paints in Europe and Performance Coatings.

1st quarter

 

 

 

 

 

 

in € millions

 

2013

 

2014

 

∆%

Decorative Paints

 

43

 

17

 

(60)

Performance Coatings

 

129

 

126

 

(2)

Specialty Chemicals

 

99

 

135

 

36

Other activities/eliminations

 

(54)

 

(62)

 

 

Total

 

217

 

216