Quarterly statistics

 

 

 

 

 

 

 

 

2014

 

 

 

 

 

 

 

 

 

2015

Q1

 

Q2

 

Q3

 

Q4

 

year

 

in € millions

 

Q1

 

Q2

 

Q3

 

year-to-date

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenue

865

 

1,074

 

1,050

 

920

 

3,909

 

Decorative Paints

 

890

 

1,134

 

1,052

 

3,076

1,319

 

1,434

 

1,420

 

1,416

 

5,589

 

Performance Coatings

 

1,430

 

1,550

 

1,493

 

4,473

1,222

 

1,228

 

1,239

 

1,194

 

4,883

 

Specialty Chemicals

 

1,296

 

1,290

 

1,235

 

3,821

(23)

 

(26)

 

(23)

 

(13)

 

(85)

 

Other activities/eliminations

 

(25)

 

(25)

 

(20)

 

(70)

3,383

 

3,710

 

3,686

 

3,517

 

14,296

 

Total

 

3,591

 

3,949

 

3,760

 

11,300

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EBITDA

56

 

141

 

150

 

58

 

405

 

Decorative Paints

 

88

 

165

 

159

 

412

163

 

212

 

170

 

142

 

687

 

Performance Coatings

 

206

 

257

 

246

 

709

204

 

204

 

232

 

175

 

815

 

Specialty Chemicals

 

242

 

243

 

242

 

727

(59)

 

(48)

 

(65)

 

(45)

 

(217)

 

Other activities/eliminations

 

(74)

 

(55)

 

(57)

 

(186)

364

 

509

 

487

 

330

 

1,690

 

Total

 

462

 

610

 

590

 

1,662

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

10.8

 

13.7

 

13.2

 

9.4

 

11.8

 

EBITDA margin (in %)

 

12.9

 

15.4

 

15.7

 

14.7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Depreciation

(27)

 

(26)

 

(27)

 

(29)

 

(109)

 

Decorative Paints

 

(26)

 

(26)

 

(27)

 

(79)

(27)

 

(24)

 

(25)

 

(25)

 

(101)

 

Performance Coatings

 

(25)

 

(26)

 

(26)

 

(77)

(60)

 

(64)

 

(64)

 

(68)

 

(256)

 

Specialty Chemicals

 

(66)

 

(68)

 

(66)

 

(200)

(3)

 

(3)

 

(3)

 

(2)

 

(11)

 

Other activities/eliminations

 

(3)

 

(3)

 

(1)

 

(7)

(117)

 

(117)

 

(119)

 

(124)

 

(477)

 

Total

 

(120)

 

(123)

 

(120)

 

(363)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization

(12)

 

(13)

 

(10)

 

(13)

 

(48)

 

Decorative Paints

 

(12)

 

(11)

 

(11)

 

(34)

(10)

 

(10)

 

(10)

 

(11)

 

(41)

 

Performance Coatings

 

(11)

 

(11)

 

(10)

 

(32)

(9)

 

(16)

 

(12)

 

(14)

 

(51)

 

Specialty Chemicals

 

(13)

 

(13)

 

(13)

 

(39)

 

 

(1)

 

 

(1)

 

Other activities/eliminations

 

 

 

 

(31)

 

(39)

 

(33)

 

(38)

 

(141)

 

Total

 

(36)

 

(35)

 

(34)

 

(105)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income excluding incidentals

17

 

102

 

113

 

16

 

248

 

Decorative Paints

 

50

 

128

 

121

 

299

126

 

178

 

135

 

106

 

545

 

Performance Coatings

 

170

 

220

 

210

 

600

135

 

124

 

156

 

93

 

508

 

Specialty Chemicals

 

163

 

162

 

163

 

488

(62)

 

(51)

 

(69)

 

(47)

 

(229)

 

Other activities/eliminations

 

(77)

 

(58)

 

(58)

 

(193)

216

 

353

 

335

 

168

 

1,072

 

Total

 

306

 

452

 

436

 

1,194

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating income

17

 

102

 

113

 

16

 

248

 

Decorative Paints

 

50

 

128

 

121

 

299

126

 

178

 

135

 

106

 

545

 

Performance Coatings

 

170

 

220

 

210

 

600

135

 

124

 

156

 

93

 

508

 

Specialty Chemicals

 

163

 

192

 

163

 

518

(62)

 

(51)

 

(69)

 

(132)

 

(314)

 

Other activities/eliminations

 

(77)

 

(54)

 

(58)

 

(189)

216

 

353

 

335

 

83

 

987

 

Total

 

306

 

486

 

436

 

1,228

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

6.4

 

9.5

 

9.1

 

2.4

 

6.9

 

ROS (in %)

 

8.5

 

12.3

 

11.6

 

10.9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Incidentals per Business Area

 

 

 

 

 

Decorative Paints

 

 

 

 

 

 

 

 

 

Performance Coatings

 

 

 

 

 

 

 

 

 

Specialty Chemicals

 

 

30

 

 

30

 

 

 

(85)

 

(85)

 

Other activities/eliminations

 

 

4

 

 

4

 

 

 

(85)

 

(85)

 

Total

 

 

34

 

 

34

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Reconciliation net financing expense

12

 

9

 

9

 

12

 

42

 

Financing income

 

10

 

4

 

7

 

21

(44)

 

(37)

 

(36)

 

(40)

 

(157)

 

Financing expenses

 

(38)

 

(31)

 

(29)

 

(98)

(32)

 

(28)

 

(27)

 

(28)

 

(115)

 

Net interest on net debt

 

(28)

 

(27)

 

(22)

 

(77)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other interest movements

(5)

 

(4)

 

(4)

 

(5)

 

(18)

 

Financing expenses related to pensions

 

(4)

 

(3)

 

(4)

 

(11)

(4)

 

(11)

 

(8)

 

(9)

 

(32)

 

Interest on provisions

 

(9)

 

(1)

 

(7)

 

(17)

4

 

3

 

1

 

1

 

9

 

Other items

 

 

4

 

5

 

9

(5)

 

(12)

 

(11)

 

(13)

 

(41)

 

Net other financing charges

 

(13)

 

 

(6)

 

(19)

(37)

 

(40)

 

(38)

 

(41)

 

(156)

 

Net financing expenses

 

(41)

 

(27)

 

(28)

 

(96)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Quarterly net income analysis

6

 

6

 

6

 

3

 

21

 

Results from associates and joint ventures

 

(2)

 

8

 

6

 

12

(16)

 

(24)

 

(16)

 

(16)

 

(72)

 

Profit attributable to non-controlling interests

 

(18)

 

(27)

 

(16)

 

(61)

185

 

319

 

303

 

45

 

852

 

Profit before tax

 

263

 

467

 

414

 

1,144

(43)

 

(89)

 

(84)

 

(36)

 

(252)

 

Income tax

 

(82)

 

(108)

 

(114)

 

(304)

142

 

230

 

219

 

9

 

600

 

Profit for the period from continuing operations

 

181

 

359

 

300

 

840

23

 

28

 

28

 

80

 

30

 

Effective tax rate (in %)

 

31

 

23

 

28

 

27

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from continuing operations (in €)

0.52

 

0.84

 

0.83

 

(0.03)

 

2.16

 

Basic

 

0.66

 

1.35

 

1.15

 

3.15

0.52

 

0.83

 

0.82

 

(0.03)

 

2.15

 

Diluted

 

0.66

 

1.34

 

1.14

 

3.13

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from discontinued operations (in €)

0.01

 

 

0.01

 

0.06

 

0.07

 

Basic

 

(0.01)

 

(0.01)

 

 

(0.01)

0.01

 

 

0.01

 

0.06

 

0.07

 

Diluted

 

(0.01)

 

(0.01)

 

 

(0.01)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings per share from total operations (in €)

0.53

 

0.84

 

0.84

 

0.03

 

2.23

 

Basic

 

0.65

 

1.34

 

1.15

 

3.14

0.53

 

0.83

 

0.83

 

0.03

 

2.22

 

Diluted

 

0.65

 

1.33

 

1.14

 

3.12

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Number of shares (in millions)

243.0

 

244.4

 

245.4

 

245.7

 

244.7

 

Weighted average number of shares

 

246.4

 

247.7

 

248.4

 

247.5

243.4

 

245.4

 

245.4

 

246.0

 

246.0

 

Number of shares at end of quarter

 

246.9

 

248.4

 

248.4

 

248.4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Adjusted earnings (in € millions)

185

 

319

 

303

 

45

 

852

 

Profit before tax from continuing operations

 

263

 

467

 

414

 

1,144

 

 

 

85

 

85

 

Incidentals reported in operating income

 

 

(34)

 

 

(34)

31

 

39

 

33

 

38

 

141

 

Amortization of intangible assets

 

36

 

35

 

34

 

105

(52)

 

(101)

 

(94)

 

(72)

 

(319)

 

Adjusted income tax

 

(93)

 

(118)

 

(125)

 

(336)

(16)

 

(24)

 

(16)

 

(16)

 

(72)

 

Non-controlling interests

 

(18)

 

(27)

 

(16)

 

(61)

148

 

233

 

226

 

80

 

687

 

Adjusted net income for continuing operations

 

188

 

323

 

307

 

818

0.61

 

0.95

 

0.92

 

0.33

 

2.81

 

Adjusted earnings per share (in €)

 

0.76

 

1.30

 

1.24

 

3.30