Solutions & Specialties
| Solutions & Specialties key data | |||
|---|---|---|---|
| 1st quarter 2023 | 1st quarter 2024 | Change | |
| Sales (external) | €1,883 million | €1,767 million | –6.2% |
| Intersegment sales | €8 million | €7 million | –12.5% |
| Sales (total) | €1,891 million | €1,774 million | –6.2% |
| Change in sales (external) | |||
| Volume | –15.4% | 5.9% | |
| Price | –0.5% | –10.4% | |
| Currency | 0.6% | –1.7% | |
| Sales by region (external) | |||
| EMLA | €755 million | €710 million | –6.0% |
| NA | €485 million | €444 million | –8.5% |
| APAC | €643 million | €613 million | –4.7% |
| EBITDA1 | €165 million | €208 million | 26.1% |
| EBIT1 | €63 million | €135 million | 114.3% |
| Cash flows from operating activities | (€5 million) | €53 million | . |
| Cash outflows for additions to property, plant, equipment and intangible assets | €43 million | €31 million | –27.9% |
| Free operating cash flow | (€48 million) | €22 million | . |
1 EBIT and EBITDA include the effect on earnings of intersegment sales.
In the Solutions & Specialties segment, first-quarter sales in 2024 were down 6.2% to €1,767 million (previous year: €1,883 million). The main driver of this trend was a 10.4% drop in average selling prices, offset by an increase in volumes sold, which had a beneficial effect on sales of 5.9%. At the same time, exchange rate movements resulted in a decreasing effect on sales of 1.7%.
The EMLA region’s sales decreased 6.0% to €710 million (previous year: €755 million), driven by significantly lower average selling prices. Conversely, the rise in volumes pushed up sales considerably. Exchange rate movements had no notable effect on sales. In the NA region, sales were down 8.5% to €444 million (previous year: €485 million), mainly on account of a considerable drop in the selling price level and a slight decline in volumes sold. Exchange rate movements had no notable effect on sales. Sales in the APAC region declined by 4.7% to 613 million (previous year: €643 million). The main drivers of this development were lower average selling prices and a slight negative trend in exchange rates. On the other hand, higher volumes sold boosted sales significantly.
In the first quarter of 2024, EBITDA in the Solutions & Specialties segment climbed by 26.1% over the prior-year quarter to €208 million (previous year: €165 million), largely due to higher sales volumes. In addition, the margins boosted earnings slightly, since the decline in selling prices was more than offset by lower raw material and energy costs. On the other hand, exchange rate movements had a slightly negative effect on EBITDA.
In the first quarter of 2024, EBIT jumped by 114.3% to €135 million (previous year: €63 million).
Free operating cash flow improved to €22 million in the first quarter of 2024 (previous year: