Segments

in CHF m

  

Care Chemicals

  

Catalysis

  

Natural Resources

  

Plastics & Coatings

  

Corporate

  

Total Group

 

  

2018

  

2017

  

2018

  

2017

  

2018

  

2017

  

2018

  

2017

  

2018

  

2017

  

2018

  

2017

1

EBITDA is earning before interest, tax, depreciation and amortization.

2

Not including the result of the partial disposal and revaluation of the participation in Stahl.

3

Includes the effect of the partial disposal and revaluation of the participation in Stahl in the amount of CHF 59 million. The allocation to the Business Areas is as follows: CHF 15 million to Care Chemicals, CHF 8 million to Catalysis, CHF 13 million to Natural Resources and CHF 23 million to Plastics & Coatings.

Segment sales

  

1 681

  

1 589

  

862

  

767

  

1 403

  

1 364

  

2 736

  

2 709

  

—

  

—

  

6 682

  

6 429

Sales to other segments

  

–16

  

–14

  

–1

  

—

  

–9

  

–7

  

–33

  

–31

  

—

  

—

  

–59

  

–52

Total sales

  

1 665

  

1 575

  

861

  

767

  

1 394

  

1 357

  

2 703

  

2 678

  

—

  

—

  

6 623

  

6 377

Operating expenses

  

–1 414

  

–1 375

  

–750

  

–639

  

–1 298

  

–1 223

  

–2 375

  

–2 381

  

–240

  

–263

  

–6 077

  

–5 881

Thereof:

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Income from associates and joint ventures3

  

29

  

10

  

17

  

11

  

16

  

5

  

54

  

30

  

14

  

47

  

130

  

103

Gain/loss from disposals not qualifying as discontinued operations

  

—

  

—

  

—

  

—

  

—

  

—

  

—

  

1

  

–54

  

2

  

–54

  

3

Restructuring, impairment and transaction-related costs

  

–2

  

–30

  

–14

  

–7

  

–22

  

–14

  

–4

  

–14

  

–51

  

–115

  

–93

  

–180

Operating income

  

251

  

200

  

111

  

128

  

96

  

134

  

328

  

297

  

–240

  

–263

  

546

  

496

Net financial expenses and taxes

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

–190

  

–194

Net income

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

356

  

302

Segment assets

  

1 158

  

1 160

  

1 724

  

1 780

  

1 228

  

1 298

  

1 746

  

1 798

  

 

  

 

  

5 856

  

6 036

Segment liabilities

  

–252

  

–244

  

–159

  

–90

  

–159

  

–150

  

–282

  

–273

  

 

  

 

  

–852

  

–757

Net operating assets

  

906

  

916

  

1 565

  

1 690

  

1 069

  

1 148

  

1 464

  

1 525

  

—

  

—

  

5 004

  

5 279

Net assets held for sale

  

7

  

10

  

5

  

5

  

—

  

4

  

2

  

2

  

1

  

1

  

15

  

22

Corporate assets without cash

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

1 244

  

1 416

  

1 244

  

1 416

Corporate liabilities without financial liabilities

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

–1 919

  

–2 239

  

–1 919

  

–2 239

Net debt see note 18

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

–1 374

  

–1 539

  

–1 374

  

–1 539

Total net assets

  

913

  

926

  

1 570

  

1 695

  

1 069

  

1 152

  

1 466

  

1 527

  

–2 048

  

–2 361

  

2 970

  

2 939

Thereof:

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Investments in PPE and intangibles for the period

  

61

  

61

  

56

  

36

  

42

  

49

  

75

  

86

  

23

  

47

  

257

  

279

Investments in associates and joint ventures at the end of the period

  

87

  

64

  

118

  

121

  

9

  

9

  

151

  

154

  

3

  

160

  

368

  

508

Reconciliation of key figures

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Operating income

  

251

  

200

  

111

  

128

  

96

  

134

  

328

  

297

  

–240

  

–263

  

546

  

496

Add: systematic depreciation of PPE

  

56

  

54

  

55

  

41

  

38

  

36

  

66

  

68

  

30

  

32

  

245

  

231

Add: impairment

  

—

  

—

  

—

  

1

  

—

  

1

  

—

  

12

  

—

  

2

  

—

  

16

Add: amortization of intangible assets

  

7

  

6

  

19

  

22

  

23

  

23

  

14

  

10

  

17

  

9

  

80

  

70

EBITDA1

  

314

  

260

  

185

  

192

  

157

  

194

  

408

  

387

  

–193

  

–220

  

871

  

813

Add: restructuring, impairment and transaction-related costs

  

2

  

30

  

14

  

7

  

22

  

14

  

4

  

14

  

51

  

115

  

93

  

180

Less: impairment

  

—

  

—

  

—

  

–1

  

—

  

–1

  

—

  

–12

  

—

  

–2

  

—

  

–16

Less: gain/loss from disposals not qualifying as discontinued operations2

  

—

  

—

  

—

  

—

  

—

  

—

  

—

  

–1

  

54

  

–2

  

54

  

–3

Adjusted EBITDA

  

316

  

290

  

199

  

198

  

179

  

207

  

412

  

388

  

–88

  

–109

  

1 018

  

974

Operating income

  

251

  

200

  

111

  

128

  

96

  

134

  

328

  

297

  

–240

  

–263

  

546

  

496

Add: restructuring, impairment and transaction-related costs

  

2

  

30

  

14

  

7

  

22

  

14

  

4

  

14

  

51

  

115

  

93

  

180

Less: gain/loss from disposals not qualifying as discontinued operations

  

—

  

—

  

—

  

—

  

—

  

—

  

—

  

–1

  

54

  

–2

  

54

  

–3

Adjusted operating income

  

253

  

230

  

125

  

135

  

118

  

148

  

332

  

310

  

–135

  

–150

  

693

  

673