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Business trends by region

Sales by Market
                     
  Q2 2011 Q2 2012 Change H1 2011 H1 2012 Change
                     
  € million % € million % % € million % € million % %
                     
EMEA (excluding Germany) 665 29.7 650 26.8 (2.3) 1,307 30.3 1,349 28.0 3.2
Germany 411 18.3 396 16.3 (3.6) 809 18.7 812 16.9 0.4
North America 368 16.4 439 18.1 19.3 696 16.1 862 17.9 23.9
Latin America 307 13.7 331 13.7 7.8 551 12.8 632 13.2 14.7
Asia-Pacific 492 21.9 608 25.1 23.6 953 22.1 1,157 24.0 21.4
  2,243 100.0 2,424 100.0 8.1 4,316 100.0 4,812 100.0 11.5

Sales in the EMEA region (excluding Germany) receded by 2.3% in the second quarter of 2012 to €650 million. Adjusted for portfolio changes and minor currency effects, sales were down by 5.4%. The portfolio effects related mostly to the Keltan EPDM business acquired in the previous year. Sales of the Performance Chemicals segment were down by a high single-digit percentage. The Performance Polymers segment saw sales decline by a mid-single-digit percentage. In Advanced Intermediates, sales held close to the previous year’s level, advancing by a low single-digit percentage. The negative sales development in the region mainly affected Italy, Switzerland, Spain and Austria. Hungary and Russia, by contrast, registered modest growth.

First-half sales in the EMEA region (excluding Germany) climbed by 3.2% to €1,349 million. Adjusted for currency and portfolio effects, there was a 2.6% decrease. Sales in the Performance Polymers segment remained at the previous year’s level, but business in Performance Chemicals and Advanced Intermediates declined, in some cases by a significant single-digit percentage. The deteriorating business climate mainly affected Italy, Switzerland and Spain. Clearly positive impetus came from the Netherlands.

With a 26.8% share of total sales for the quarter and a 28.0% share for the half, EMEA (excluding Germany) remains the largest of the LANXESS Group’s regions in terms of sales.

In Germany, our second-quarter sales shrank by 3.6% to €396 million. Adjusted for portfolio effects, mostly from the Keltan EPDM business, sales decreased by 5.4%. The Performance Chemicals and Advanced Intermediates segments were the most affected, with sales declining by high-single-digit percentages. The Performance Polymers segment escaped the downward trend in some areas and posted only a low single-digit percentage decrease overall.

In the first half of 2012, we increased business in Germany by 0.4% to €812 million. Adjusted for portfolio effects, sales showed a 2.5% decline. The decrease was attributable to the Performance Chemicals and Advanced Intermediates segments, where business was down by a single-digit percentage in each case. Performance Polymers posted modest, single-digit growth, which therefore did not fully offset the lower revenues in the other two segments.

Germany’s share of Group sales came to 16.3% for the second quarter and 16.9% for the first half, both figures being slightly down from the prior-year period.

The sales trend in the North America region was clearly positive in the second quarter of 2012, with business up by 19.3% to €439 million before adjusting for currency and portfolio effects. On an adjusted basis, sales were up by 1.7% from the prior-year period. All segments posted growth rates in the low single digits. Our business in the United States determined the region’s performance.

In the first half of 2012, sales in North America climbed by 23.9% to €862 million. On a currency- and portfolio-adjusted basis, sales growth came to 8.3%. The increase was driven by the Advanced Intermediates segment, where business expanded by a low double-digit percentage. Performance Chemicals and Performance Polymers, by contrast, posted growth rates in the mid to high single digits.

LANXESS generated 18.1% of its second-quarter sales and 17.9% of its first-half sales in this region. These were slightly higher proportions than the year before.

We raised sales in Latin America by 7.8% to €331 million in the second quarter of 2012. Adjusted for currency and portfolio changes, sales fell by 5.1%, chiefly because of the drop in sales in Performance Polymers. Although Advanced Intermediates and Performance Chemicals posted double-digit sales growth in some areas, this was insufficient to offset the negative effect described. Brazil was the key country in the region in terms of the absolute sales increase.

In the first half-year, LANXESS increased its sales in Latin America by 14.7% to €632 million. Adjusted for portfolio and currency effects, sales were up by 3.1%. The drivers were the absolute sales contributions from the Performance Polymers and Advanced Intermediates segments.

The region’s share of Group sales came to 13.7% for the quarter and 13.2% for the half, which were close to the prior year’s levels.

We lifted second-quarter sales in the Asia-Pacific region by a significant 23.6% to €608 million. After adjusting for currency and portfolio effects, sales grew by 11.1%. The Performance Polymers segment drove this development in both absolute and relative terms, with growth well into double digits. By contrast, sales in Advanced Intermediates lagged behind the previous year with a low-single-digit decrease. Performance Chemicals also posted a slight decline in sales. The clear growth drivers in the region were China and Singapore, followed at some distance by Taiwan and South Korea. Business was slightly down in Japan and India, in particular.

In the first half of 2012, sales in this region advanced by 21.4% to €1,157 million. Adjusted for currency and portfolio effects, the increase came to 9.0%. The shares of the segments were broadly the same as for the quarter, with Performance Polymers the outstanding growth engine. Business in the other segments, however, showed a slight decline.

Asia-Pacific’s share of Group sales came to 25.1% for the quarter and 24.0% for the half. Both of these figures represent higher proportions than a year ago.

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