Our results at a glance

  • Volumes up for all Business Areas and up 2 percent overall
  • Revenue down 4 percent; higher volumes offset by adverse currency effects, price/mix and divestments
  • EBIT (operating income excluding incidental items) up 9 percent at €334 million (2015: €306 million), reflecting continuous improvement initiatives and lower costs, partly offset by adverse currency effects
  • Operating income up 17 percent at €357 million (2015: €306 million)
  • ROS* improved to 9.7 percent (2015: 8.5 percent); ROI* improved to 14.5 percent (2015: 11.5 percent)
  • Adjusted EPS up 28 percent at €0.97 (2015: €0.76)
  • Net income attributable to shareholders up 50 percent at €240 million (2015: €160 million)
  • Net cash outflow from operating activities improved to €336 million (2015: €622 million)
  • Intended acquisition of BASF’s Industrial Coatings business announced
  • Launched €500 million 10 year bond at a coupon of 1.125 percent in April 2016

Outlook:

  • The market environment remains uncertain with challenging conditions in several countries and segments. Deflationary pressures and currency headwinds are expected to continue
Summary of financial outcomes

First quarter

 

 

 

in € millions

2015

2016

∆%

*

ROS% = EBIT/Revenue. Moving average ROI (in %) = EBIT/12 months average invested capital

Revenue

3,591

3,430

(4)

Operating income

306

357

17

EBIT (operating income excluding incidental items)

306

334

9

OPI margin%

8.5

10.4

 

ROS% *

8.5

9.7

 

 

 

 

 

Average invested capital

10,137

10,311

 

Moving average ROI (in %) *

11.5

14.5

 

 

 

 

 

EBITDA

462

487

5

Capital expenditures

123

124

 

Net cash from operating activities

(622)

(336)

 

Net debt

2,278

1,703

 

 

 

 

 

Net income from continuing operations

163

241

48

Net income from discontinued operations

(3)

(1)

 

Net income attributable to shareholders

160

240

50

Earnings per share from total operations (in €)

0.65

0.96

 

Adjusted earnings per share (in €)

0.76

0.97

28

Number of employees

46,400

45,900