Business trends by region

Sales by Market
 
  Q1 2013 Q1 2014 Change
  € million % € million % %
 
EMEA (excluding Germany) 623 29.7 618 30.3 (0.8)
Germany 370 17.7 381 18.6 3.0
North America 327 15.6 331 16.2 1.2
Latin America 245 11.7 217 10.6 (11.4)
Asia-Pacific 530 25.3 496 24.3 (6.4)
  2,095 100.0 2,043 100.0 (2.5)
  

Sales in the EMEA (excluding Germany) region in the first quarter of 2014 were €618 million and thus nearly reached the level of the prior-year period. Adjusted for currency effects and for minor portfolio effects from the acquisition of the phosphorus chemicals business of Thermphos France S.A.R.L., Epierre, France, sales receded by 0.9%. Our Advanced Intermediates and Performance Chemicals segments raised sales by low-double-digit and mid-single-digit percentages, respectively. Sales in the Performance Polymers segment, however, were down by a low-double-digit percentage. While demand developed positively in Ireland, Switzerland, the Netherlands, Poland and the Czech Republic in particular, sales fell by double-digit percentages in some countries, primarily Belgium, Spain, Russia and Turkey.

The EMEA (excluding Germany) region accounted for 30.3% of Group sales, compared to 29.7% in the same period of 2013.

Sales in Germany increased by 3.0% in the first quarter of 2014 to €381 million. There were no material portfolio effects. The Performance Polymers and Performance Chemicals segments grew sales by high-single-digit and low-double-digit percentages, respectively, while our Advanced Intermediates segment saw sales decline year on year.

Germany’s share of Group sales came to 18.6% for the quarter, against 17.7% for the same period a year ago.

Sales in the North America region grew by €4 million, or 1.2%, to €331 million in the first three months of 2014. Adjusted for negative currency effects, sales increased by 4.9%. The picture here was dominated by business development in the Performance Polymers and Performance Chemicals segments, where sales rose by low-double-digit and low-single-digit percentages, respectively. Sales in the Advanced Intermediates segment, on the other hand, were below the level of the prior-year quarter.

The North America region’s share of Group sales increased to 16.2% in the first quarter of 2014, compared with 15.6% in the prior-year period.

Sales in the Latin America region receded in the first quarter of 2014 by €28 million or 11.4% against the prior-year period, to €217 million. Adjusted for negative shifts in exchange rates and minor positive portfolio effects, sales were down by 6.0%. This was mainly attributable to business development in the Performance Polymers segment, which saw sales decline by a high-single-digit percentage. The positive sales development in the Performance Chemicals segment more than offset the negative development in the Advanced Intermediates segment. Brazil was the main driver of this development in the region.

The Latin America region’s share of Group sales came to 10.6% for the quarter, against 11.7% for the same period a year ago.

Sales in the Asia-Pacific region decreased by 6.4% to €496 million. Adjusted for currency changes and for portfolio effects resulting from the acquisition in 2013 of PCTS Specialty Chemicals Pte. Ltd., Singapore, sales fell by 2.8%. While the Performance Polymers and Advanced Intermediates segments saw sales decrease by a high single-digit percentage, the Performance Chemicals segment registered sales growth in the low-double-digit percentage range. China, Thailand, Hong Kong and South Korea accounted for a major share of the operational sales development in this region as a whole. However, we posted sales gains in India, Singapore and Japan.

Asia-Pacific’s share of Group sales fell to 24.3% for the quarter, against 25.3% for the same period a year ago.