Specialty Chemicals – Overview
- Volumes in line with the previous year
- Revenue down 1 percent, mainly due to adverse currency effects and divestments
- Operating income up due to lower restructuring costs and operational efficiencies
- Continuous improvement measures in all businesses
Volumes were in line with 2013, with growth being offset by some planned outages in the chain, as well as an industrial action in Rotterdam. On a year-to-date basis, volumes are 2 percent higher. Revenue declined due to adverse currency developments and price pressure in some segments, such as caustic. In general, the market conditions in Europe have slowed after a promising start to the year. The US gained further momentum after a slow start to the year. The Asia/Pacific business also improved during Q3, with weaknesses in some segments. Despite the economic slowdown, profitability increased due to benefits from restructuring activities and cost savings, as well as lower restructuring costs.