Coatings, Adhesives, Specialties
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3rd quarter 2017 |
3rd quarter 2018 |
Change |
1st nine months 2017 |
1st nine months 2018 |
Change |
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€ million |
€ million |
% |
€ million |
€ million |
% |
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Core volume growth2 |
–3.1% |
+7.2% |
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+2.3% |
+3.8% |
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Sales |
557 |
606 |
+8.8 |
1,798 |
1,827 |
+1.6 |
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Change in sales |
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Volume |
–3.7% |
+9.7% |
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+2.9% |
+4.3% |
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Price |
+3.2% |
–0.5% |
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+0.8% |
+0.8% |
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Currency |
–2.8% |
–0.4% |
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–0.1% |
–3.5% |
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Portfolio |
0.0% |
0.0% |
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0.0% |
0.0% |
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Sales by region |
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EMLA |
264 |
280 |
+6.1 |
844 |
877 |
+3.9 |
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NAFTA |
118 |
131 |
+11.0 |
399 |
390 |
–2.3 |
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APAC |
175 |
195 |
+11.4 |
555 |
560 |
+0.9 |
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EBITDA |
125 |
126 |
+0.8 |
406 |
401 |
–1.2 |
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EBIT |
103 |
103 |
– |
340 |
332 |
–2.4 |
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Operating cash flows |
110 |
119 |
+8.2 |
194 |
202 |
+4.1 |
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Cash outflows for additions to property, plant, equipment and intangible assets |
20 |
26 |
+30.0 |
50 |
70 |
+40.0 |
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Free operating cash flow |
90 |
93 |
+3.3 |
144 |
132 |
–8.3 |
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In the third quarter of 2018, core volumes in the Coatings, Adhesives, Specialties segment were 7.2% higher than in the prior-year quarter.
In the Coatings, Adhesives, Specialties segment, sales were up 8.8% to €606 million in the third quarter of 2018 (previous year: €557 million). The key driver here was the expansion in total volumes, which increased sales by 9.7%. Average selling prices and exchange rates diminished sales by 0.5% and 0.4%, respectively.
In the EMLA region, sales grew 6.1% to €280 million (previous year: €264 million). The performance of total volumes sold had a considerably positive effect on sales, while selling prices remained steady. In the NAFTA region, sales grew 11.0% to €131 million (previous year: €118 million). A considerable rise in total volumes and slightly higher average selling prices had a positive impact on sales. Sales in the APAC region rose 11.4% to €195 million (previous year: €175 million). The performance of total volumes had a significant positive effect on sales, although lower selling prices resulted in a modest decline in sales. In all regions, the effect of exchange rate movements remained largely neutral.
EBITDA in the Coatings, Adhesives, Specialties segment remained stable at the previous year’s level in the third quarter of 2018, amounting to €126 million (previous year: €125 million).
During the same period, EBIT was unchanged at €103 million (previous year: €103 million).
Free operating cash flow improved by 3.3% to €93 million in the third quarter of 2018 (previous year: €90 million).