Advanced Intermediates

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Advanced Intermediates
 
  Q3 2013 Q3 2014 Change 9M 2013 9M 2014 Change
  € million Margin
 %
€ million Margin
 %
% € million Margin
 %
€ million Margin
 %
%
 
Sales 403   424   5.2 1,229   1,246   1.4
EBITDA pre exceptionals 71 17.6 74 17.5 4.2 216 17.6 219 17.6 1.4
EBITDA 71 17.6 74 17.5 4.2 220 17.9 217 17.4 (1.4)
Operating result (EBIT) pre exceptionals 51 12.7 52 12.3 2.0 160 13.0 153 12.3 (4.4)
Operating result (EBIT) 51 12.7 52 12.3 2.0 164 13.3 151 12.1 (7.9)
Cash outflows for capital expenditures 28   15   (46.4) 70   54   (22.9)
Depreciation and amortization 20   22   10.0 56   66   17.9
Employees as of Sep. 30
(previous year: as of Dec. 31)
2,854   2,804   (1.8) 2,854   2,804   (1.8)
  

Sales in the Advanced Intermediates segment rose by 5.2% in the third quarter of 2014, to €424 million. While selling price adjustments resulted in a negative price effect of 0.9%, volumes were up by 6.1% against the prior-year quarter. Exchange rate movements had no tangible effect.

Selling prices in the segment’s two business units were below the level of the prior-year quarter, while volumes moved substantially higher. The Saltigo business unit, in particular, benefited from the positive development of demand for agrochemicals. The segment posted higher sales in all regions, with growth driven especially by the Asia-Pacific and Germany regions. 

EBITDA pre exceptionals for the Advanced Intermediates segment advanced by €3 million or 4.2% against the prior-year quarter, to €74 million. Earnings were improved by higher volumes and a slight decline in raw material costs but held back particularly by the adjustment of selling prices. The EBITDA margin remained high at 17.5%, against 17.6% in the prior-year quarter.