- The Decorative Paints business showed a revenue increase of 5 percent (7 percent on a constant currency basis) in the third quarter. Revenue increased across all regions except for North America, where revenue was 4 percent down compared to the previous year. Sales volume in Asia and Latin America grew 6 and 10 percent respectively. However, demand in our mature markets remained weak and the pace of growth in Asia slowed.
- Revenue in Performance Coatings was up 5 percent, which was positively affected by a 1 percent volume increase, a 7 percent price increase, and offset by 3 percent negative currency effect. Industrial Coatings showed the strongest growth. At segment level, Marine remains affected by the shortfall in New Construction and Wood Asia continues to be weak because of its exposure to the US housing market. We continue to manage our selling prices in response to the high raw material costs.
- In Specialty Chemicals, revenue development remained positive in the third quarter, with all of our business units contributing to the 6 percent increase in revenue. Volumes in the quarter were slightly down, but year-to-date is still 2 percent ahead of last year. The strength in manufacturing and industrial production, particularly in Asia and North America, resulted in stable demand across most of our business lines, with some exceptions where we see decreased demand and uncertainty in ordering patterns. The demand in the residential construction related businesses remained weak.
|
3rd quarter |
|
|
January - September |
| ||
|
2010 |
2011 |
Δ% |
in € millions |
2010 |
2011 |
Δ% |
|
1,372 |
1,435 |
5 |
Decorative Paints |
3,829 |
4,092 |
7 |
|
1,239 |
1,295 |
5 |
Performance Coatings |
3,548 |
3,844 |
8 |
|
1,272 |
1,349 |
6 |
Specialty Chemicals |
3,684 |
4,050 |
10 |
|
(16) |
(28) |
|
Other activities/eliminations |
(41) |
(76) |
|
|
3,867 |
4,051 |
5 |
Total |
11,020 |
11,910 |
8 |
Revenue development Q3 2011
|
in % versus Q3 2010 |
Volume |
Price/mix |
Acquisitions |
Exchange |
Total |
|
Decorative Paints |
4 |
3 |
– |
(2) |
5 |
|
Performance Coatings |
1 |
7 |
– |
(3) |
5 |
|
Specialty Chemicals |
(1) |
8 |
– |
(1) |
6 |
|
Total |
1 |
6 |
– |
(2) |
5 |
|
Volume development per quarter |
Q3 10 |
Q4 10 |
Q1 11 |
Q2 11 |
Q3 11 |
|
Decorative Paints |
– |
1 |
9 |
6 |
4 |
|
Performance Coatings |
5 |
5 |
7 |
2 |
1 |
|
Specialty Chemicals |
10 |
3 |
6 |
1 |
(1) |
|
Total |
4 |
3 |
7 |
3 |
1 |
|
Price/mix development per quarter |
Q3 10 |
Q4 10 |
Q1 11 |
Q2 11 |
Q3 11 |
|
Decorative Paints |
1 |
2 |
1 |
2 |
3 |
|
Performance Coatings |
– |
3 |
2 |
3 |
7 |
|
Specialty Chemicals |
2 |
8 |
6 |
8 |
8 |
|
Total |
1 |
4 |
3 |
4 |
6 |