| Performance Materials key data | |||
|---|---|---|---|
| 1st quarter 2024 | 1st quarter 2025 | Change | |
| Sales (external) | €1,689 million | €1,677 million | –0.7% |
| Intersegment sales | €556 million | €538 million | –3.2% |
| Sales (total) | €2,245 million | €2,215 million | –1.3% |
| Change in sales (external) | |||
| Volume | 17.3% | –2.0% | |
| Price | –21.3% | 0.7% | |
| Currency | –1.7% | 0.6% | |
| Sales by region (external) | |||
| EMLA | €762 million | €802 million | 5.2% |
| NA | €417 million | €430 million | 3.1% |
| APAC | €510 million | €445 million | –12.7% |
| EBITDA1 | €103 million | €13 million | –87.4% |
| EBIT1 | (€35 million) | (€144 million) | 311.4% |
| Cash flows from operating activities | €1 million | (€13 million) | . |
| Cash outflows for additions to property, plant, equipment and intangible assets | €74 million | €111 million | 50.0% |
| Free operating cash flow | (€73 million) | (€124 million) | 69.9% |
1 EBIT and EBITDA include the effect on earnings of intersegment sales.
In the Performance Materials segment, first quarter sales in 2025 were down 0.7% to €1,677 million (previous year: €1,689 million), mainly driven by a decrease in volumes sold, which had a reducing effect on sales of 2.0%. This was set against a 0.7% rise in average selling prices as well as exchange rate movements, which had a beneficial effect on sales of 0.6%.
Sales in the EMLA region were 5.2% up on the prior-year quarter, rising to €802 million (previous year: €762 million), driven primarily by a rise in average selling prices and an increase in volumes sold, both of which boosted sales slightly. Exchange rate movements had a neutral overall impact on sales. In the NA region, sales climbed by 3.1% to €430 million (previous year: €417 million), mainly due to a higher average selling price level and to exchange rate movements, both of which had a positive effect on sales. Changes in volumes sold had no notable effect on sales. Sales in the APAC region were down 12.7% to €445 million (previous year: €510 million), mainly because of a substantial contraction in volumes sold. In addition, a minor drop in average selling prices impacted negatively on sales, while a change in exchange rates pushed sales slightly higher.
In the first quarter of 2025, EBITDA in the Performance Materials segment was down 87.4% on the prior-year quarter, declining to €13 million (previous year: €103 million). This was mostly driven by expenses incurred to implement the transformation program STRONG in a high double-digit million euro range. They were mostly attributable to the planned closure of the production facility at the Maasvlakte (Netherlands) site. At the same time, lower margins had a reducing effect on earnings, since the negative effects of increased energy prices outweighed the positive impact of the higher selling price level. Changes in volumes sold, exchange rate movements, and lower provisions for short-term variable compensation all boosted earnings.
In the first quarter of 2025, EBIT amounted to €–144 million (previous year: €–35 million).
Free operating cash flow declined to €–124 million in the first quarter of 2025 (previous year: €–73 million), largely due to lower EBITDA and higher cash outflows for additions to property, plant, equipment and intangible assets. A decrease in the amount of cash tied up in working capital compared to the previous year had a beneficial effect on free operating cash flow.