Solutions & Specialties
| Solutions & Specialties key data | ||||||
|---|---|---|---|---|---|---|
| 2nd quarter 2024 | 2nd quarter 2025 | Change | 1st half 2024 | 1st half 2025 | Change | |
| Sales (external) | €1,810 million | €1,713 million | –5.4% | €3,577 million | €3,458 million | –3.3% |
| Intersegment sales | €6 million | €7 million | 16.7% | €13 million | €13 million | 0.0% |
| Sales (total) | €1,816 million | €1,720 million | –5.3% | €3,590 million | €3,471 million | –3.3% |
| Change in sales (external) | ||||||
| Volume | 4.8% | 1.0% | 5.3% | 1.1% | ||
| Price | –7.7% | –3.0% | –9.0% | –3.0% | ||
| Currency | –0.4% | –3.4% | –1.0% | –1.4% | ||
| Sales by region (external) | ||||||
| EMLA | €679 million | €640 million | –5.7% | €1,389 million | €1,317 million | –5.2% |
| NA | €457 million | €438 million | –4.2% | €901 million | €886 million | –1.7% |
| APAC | €674 million | €635 million | –5.8% | €1,287 million | €1,255 million | –2.5% |
| EBITDA1 | €174 million | €175 million | 0.6% | €382 million | €356 million | –6.8% |
| EBIT1 | €75 million | €104 million | 38.7% | €210 million | €210 million | 0.0% |
| Cash flows from operating activities | €88 million | €108 million | 22.7% | €141 million | €158 million | 12.1% |
| Cash outflows for additions to property, plant, equipment and intangible assets | €52 million | €52 million | 0.0% | €83 million | €113 million | 36.1% |
| Free operating cash flow | €36 million | €56 million | 55.6% | €58 million | €45 million | –22.4% |
1 EBITDA and EBIT include the effect on earnings of intersegment sales.
Second Quarter of 2025
Sales in the Solutions & Specialties segment was down 5.4% in the second quarter of 2025, declining to €1,713 million (previous year: €1,810 million), especially because of exchange rate movements, which had an adverse effect on sales of 3.4%. Moreover, a drop in the selling price level due to macroeconomic developments following the increase in US import tariffs had a decreasing effect on sales of 3.0%. In contrast, an increase in volumes sold had a beneficial effect on sales of 1.0%.
In the EMLA region, sales fell by 5.7% to €640 million (previous year: €679 million). In particular a drop in the selling price level and a decline in volumes sold both had a slightly reducing impact on sales. However, exchange rate movements had a neutral impact on sales. Sales in the NA region were down by 4.2% to €438 million (previous year: €457 million), mainly because of exchange rate movements, which had a significant unfavorable effect on sales. In contrast, an increase in volumes sold had a slight beneficial effect on sales. Changes in selling prices had a neutral overall impact on sales. In the APAC region, sales were down 5.8% to €635 million (previous year: €674 million), caused primarily by exchange rate movements and a decline in the selling price level, both with slight sales-reducing effects. In contrast, an increase in volumes sold had a slight beneficial effect on sales.
In the second quarter of 2025, the Solutions & Specialties segment’s EBITDA was up 0.6% on the prior-year quarter, rising to €175 million (previous year: €174 million). In this context, lower provisions for short-term variable compensation and a €21 million decline in expenses for the transformation program STRONG compared to the prior-year quarter had a favorable effect on EBITDA. At the same time, a rise in volumes sold had the effect of boosting earnings. Conversely, a decline in margins weighed on earnings, as lower raw material and energy prices only partially offset the reduction in selling prices. In addition, exchange rate movements also had a negative effect on EBITDA.
EBIT rose by 38.7% to €104 million (previous year: €75 million).
The free operating cash went up to €56 million (previous year: €36 million), mainly because of a smaller amount of cash tied up in working capital than in the prior-year quarter.
First Half of 2025
Sales in the Solutions & Specialties segment were down 3.3% to €3,458 million in the first half of 2025 (previous year: €3,577 million). Here the downturn in selling prices for economic reasons had a decreasing effect on sales of 3.0%. Exchange rate movements also had a reducing effect on sales of 1.4%. On the other hand, an increase in volumes sold had a beneficial effect on sales of 1.1%.
EBITDA in the Solutions & Specialties segment went down by 6.8% year-on-year in the first half of 2025, declining to €356 million (previous year: €382 million). This decrease was above all due to a decline in margins, as lower raw material and energy prices only partially offset the reduction in selling prices. In contrast, lower provisions for short-term variable compensation and a €20 million decline in expenses for the transformation program STRONG compared to the prior-year period had the effect of increasing earnings. Exchange rate movements had no notable effect on EBITDA.
EBIT amounted to €210 million (previous year: €210 million).
The free operating cash flow declined to €45 million (previous year: €58 million), primarily as a result of the lower EBITDA.