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Group sales in the second quarter of 2013 came to €2,141 million, down €283 million or 11.7% from the particularly strong prior-year period. This was mainly attributable to the 9.1% negative effect of lower selling prices. Moreover, there was a slight decline in volumes caused by lower demand. The portfolio effects from the acquisitions made in the second quarter and in the previous year could not compensate for adverse exchange rate developments. Adjusted for the 0.9% negative balance of these currency and portfolio effects, sales showed a 10.8% decline based on prices and volumes.

Sales in the first six months of 2013 receded by 12.0% to €4,236 million. After adjustment for currency and portfolio effects that were slightly negative overall, the LANXESS Group posted a decrease in operational sales of 11.3% for the half-year. This development was also due to lower selling prices and declining volumes. The acquisitions made in the second quarter and in the previous year gave a slightly positive portfolio effect of 0.3%, which could not compensate for the negative currency effect attributable, in particular, to the performance of the U.S. dollar.

Effects on Sales
% Q2 2013 H1 2013
Price (9.1) (7.3)
Volume (1.7) (4.0)
Currency (1.2) (1.0)
Portfolio 0.3 0.3
  (11.7) (12.0)

Our Performance Polymers segment recorded a significant decline in sales, with decreases of 17.4% for the quarter and 18.0% for the half. This was mainly due to lower selling prices, most of which were attributable to lower prices for raw materials and ongoing pressure on the selling prices for butadiene-based products. In addition, compared to a strong prior-year quarter in which volumes were already down, volumes declined slightly as the result of lower demand, particularly from the European automotive industry. The positive portfolio effect from the acquisition of Bond-Laminates GmbH in the previous year could not offset the slightly negative exchange rate effects.

Our Advanced Intermediates segment, by contrast, achieved sales that were nearly level with the prior year. For the quarter, they were down by 1.5% and for the half by 0.2%. The higher costs of some raw materials, including benzene, were passed on to the market through selling price adjustments. Volumes were slightly below the prior-year level overall and had the opposite effect. While the agrochemical markets developed favorably, the demand for products for the automotive industry was weak. Exchange rates also had a slightly negative effect.

Sales in our Performance Chemicals segment in both the quarter and the half-year were impacted by lower volumes, which were partly the result of supply bottlenecks for a production facility in South Africa as well as the weak development of the European construction industry. Selling prices were at the prior-year level, but exchange rates had negative effects that were offset in part by slight portfolio effects from the acquisition of PCTS Specialty Chemicals Pte. Ltd., Singapore. Overall, the segment’s business volume decreased by 4.1% for the quarter and 5.4% for the half.


Sales by Segment
€ million Q2 2012 Q2 2013 Change % Proportion of Group sales % H1 2012 H1 2013 Change % Proportion of Group sales %
Performance Polymers 1,427 1,178 (17.4) 55.0 2,818 2,312 (18.0) 54.6
Advanced Intermediates 399 393 (1.5) 18.4 828 826 (0.2) 19.5
Performance Chemicals 585 561 (4.1) 26.2 1,143 1,081 (5.4) 25.5
Reconciliation 13 9 (30.8) 0.4 23 17 (26.1) 0.4
  2,424 2,141 (11.7) 100.0 4,812 4,236 (12.0) 100.0

LANXESS sales decreased, in some cases by double-digit percentages, as the result of lower prices and volumes in all regions. The key factor in this development was the absolute and relative sales performance of the Performance Polymers segment.