| Solutions & Specialties key data | |||
|---|---|---|---|
| 1st quarter 2024 | 1st quarter 2025 | Change | |
| Sales (external) | €1,767 million | €1,745 million | –1.2% |
| Intersegment sales | €7 million | €6 million | –14.3% |
| Sales (total) | €1,774 million | €1,751 million | –1.3% |
| Change in sales (external) | |||
| Volume | 5.9% | 1.2% | |
| Price | –10.4% | –3.0% | |
| Currency | –1.7% | 0.6% | |
| Sales by region (external) | |||
| EMLA | €710 million | €677 million | –4.6% |
| NA | €444 million | €448 million | 0.9% |
| APAC | €613 million | €620 million | 1.1% |
| EBITDA1 | €208 million | €181 million | –13.0% |
| EBIT1 | €135 million | €106 million | –21.5% |
| Cash flows from operating activities | €53 million | €50 million | –5.7% |
| Cash outflows for additions to property, plant, equipment and intangible assets | €31 million | €61 million | 96.8% |
| Free operating cash flow | €22 million | (€11 million) | . |
1 EBIT and EBITDA include the effect on earnings of intersegment sales.
In the Solutions & Specialties segment, first-quarter sales in 2025 were down 1.2% to €1,745 million (previous year: €1,767 million). This was primarily driven by a 3.0% decline in average selling prices. This effect was partially offset by a rise in volumes sold, which had a beneficial impact of 1.2% on sales, and exchange rate movements with a sales-increasing effect of 0.6%.
The EMLA region’s sales decreased 4.6% to €677 million (previous year: €710 million), driven by slightly lower average selling prices and a marginal decline in sales volumes. Exchange rate movements had no notable effect on sales. In the NA region, sales were up 0.9% to €448 million (previous year: €444 million), mainly on account of a slight increase in volumes sold. A lower selling price level, on the other hand, had a slight reducing impact on sales. Exchange rate movements had no notable effect on sales. Sales in the APAC region were up 1.1%, rising to €620 million (previous year: €613 million), driven primarily by an increase in volumes sold as well as exchange rate movements, both of which boosted sales slightly. Average selling prices, on the other hand, caused sales to decline slightly.
In the first quarter of 2025, EBITDA in the Solutions & Specialties segment was down 13.0% on the corresponding prior-year quarter, declining to €181 million (previous year: €208 million), largely due to the decline in the selling price level, which resulted in lower margins. In contrast, a rise in volumes sold, positive exchange rate movements, and lower provisions for short-term variable compensation had a beneficial effect on earnings.
In the first quarter of 2025, EBIT decreased by 21.5% to €106 million (previous year: €135 million).
Free operating cash flow dropped to €–11 million in the first quarter of 2025 (previous year: €22 million), driven mainly by 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.