Segments

in CHF m

  

Care Chemicals

  

Catalysis

  

Natural Resources

  

Corporate

  

Total Group

 

  

2019

  

2018

  

2019

  

2018

  

2019

  

20184

  

2019

  

2018

  

2019

  

2018

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 in 2018.

3

Includes the effect of the partial disposal and revaluation of the participation in Stahl in 2018 in the amount of CHF 59 million with the allocation to Business Areas 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.

4

Restated for the allocation of the Business Unit Additives to the Business Area Natural Ressources.

Segment sales

  

1 615

  

1 681

  

925

  

862

  

1 894

  

1 902

  

—

  

—

  

4 434

  

4 445

Sales to other segments

  

–15

  

–16

  

—

  

–1

  

–20

  

–24

  

—

  

—

  

–35

  

–41

Total sales (continuing operations)

  

1 600

  

1 665

  

925

  

861

  

1 874

  

1 878

  

—

  

—

  

4 399

  

4 404

Operating expenses

  

–1 389

  

–1 414

  

–785

  

–750

  

–1 666

  

–1 684

  

–394

  

–208

  

–4 234

  

–4 056

Thereof:

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Income from associates and joint ventures3

  

16

  

29

  

11

  

17

  

7

  

25

  

–1

  

13

  

33

  

84

Gain/loss from disposals not qualifying as discontinued operations

  

—

  

—

  

–1

  

—

  

—

  

—

  

3

  

–54

  

2

  

–54

Restructuring, impairment and transaction-related costs

  

–3

  

–2

  

–5

  

–14

  

–3

  

–22

  

–39

  

–40

  

–50

  

–78

Provision for EU investigation

  

 

  

 

  

 

  

 

  

 

  

 

  

–231

  

—

  

–231

  

—

Operating income

  

211

  

251

  

140

  

111

  

208

  

194

  

–394

  

–208

  

165

  

348

Net financial expenses and taxes

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

–199

  

–135

Net result from continuing operations

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

–34

  

213

Result from discontinued operations

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

72

  

143

Net income

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

38

  

356

Segment assets

  

1 160

  

1 158

  

1 722

  

1 724

  

1 571

  

1 522

  

—

  

 

  

4 453

  

4 404

Segment liabilities

  

–218

  

–252

  

–152

  

–159

  

–194

  

–200

  

—

  

 

  

–564

  

–611

Net operating assets

  

942

  

906

  

1 570

  

1 565

  

1 377

  

1 322

  

—

  

—

  

3 889

  

3 793

Segment assets reported as assets held for sale

  

—

  

7

  

5

  

5

  

—

  

—

  

—

  

 

  

5

  

12

Corporate assets reported as assets held for sale

  

 

  

 

  

 

  

 

  

 

  

 

  

2

  

1

  

2

  

1

Segment assets of discontinued operations reported as assets held for sale

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

1 298

  

1 454

Assets held for sale

  

—

  

7

  

5

  

5

  

—

  

—

  

2

  

1

  

1 305

  

1 467

Segment liabilities of discontinued operations reported as liabilities associated with assets held for sale

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

–559

  

–241

Liabilities directly associated with assets held for sale

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

–559

  

–241

Corporate assets without cash

  

 

  

 

  

 

  

 

  

 

  

 

  

1 275

  

1 244

  

1 275

  

1 244

Corporate liabilities without financial liabilities

  

 

  

 

  

 

  

 

  

 

  

 

  

–1 890

  

–1 919

  

–1 890

  

–1 919

Net debt (see note 19)

  

 

  

 

  

 

  

 

  

 

  

 

  

–1 343

  

–1 374

  

–1 343

  

–1 374

Total net assets

  

942

  

913

  

1 575

  

1 570

  

1 377

  

1 322

  

–1 956

  

–2 048

  

2 677

  

2 970

Thereof:

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Investments in PPE and intangibles for the period

  

68

  

61

  

81

  

56

  

78

  

70

  

13

  

23

  

240

  

210

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

  

91

  

87

  

108

  

118

  

46

  

37

  

3

  

3

  

248

  

245

Reconciliation of key figures

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

Operating income

  

211

  

251

  

140

  

111

  

208

  

194

  

–394

  

–208

  

165

  

348

Add: systematic depreciation of PPE

  

54

  

56

  

52

  

55

  

50

  

53

  

19

  

27

  

175

  

191

Add: impairment

  

—

  

—

  

—

  

—

  

—

  

—

  

—

  

—

  

—

  

—

Add: depreciation of RoU assets

  

10

  

—

  

5

  

—

  

21

  

—

  

18

  

—

  

54

  

—

Add: amortization of intangible assets

  

7

  

7

  

15

  

19

  

26

  

24

  

19

  

18

  

67

  

68

EBITDA1

  

282

  

314

  

212

  

185

  

305

  

271

  

–338

  

–163

  

461

  

607

Add: restructuring, impairment and transaction-related costs

  

3

  

2

  

5

  

14

  

3

  

22

  

39

  

40

  

50

  

78

Add: Provision for EU investigation

  

 

  

 

  

 

  

 

  

 

  

 

  

231

  

—

  

231

  

—

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

  

—

  

—

  

1

  

—

  

—

  

—

  

–3

  

54

  

–2

  

54

Adjusted EBITDA

  

285

  

316

  

218

  

199

  

308

  

293

  

–71

  

–69

  

740

  

739

Operating income

  

211

  

251

  

140

  

111

  

208

  

194

  

–394

  

–208

  

165

  

348

Add: restructuring, impairment and transaction-related costs

  

3

  

2

  

5

  

14

  

3

  

22

  

39

  

40

  

50

  

78

Add: Provision for EU investigation

  

 

  

 

  

 

  

 

  

 

  

 

  

231

  

—

  

231

  

—

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

  

—

  

—

  

1

  

—

  

—

  

—

  

–3

  

54

  

–2

  

54

Adjusted operating income

  

214

  

253

  

146

  

125

  

211

  

216

  

–127

  

–114

  

444

  

480