First-quarter earnings were considerably higher than in the same quarter of 2007. The strong increase in the Polyurethanes division more than offset the slight decline in the Performance Polymers division
Sales in the Performance Products segment were close to the level achieved in the same quarter of 2007. Higher volumes in all divisions could not fully offset divestiture-related declines in the Care Chemicals division and negative currency effects. Earnings improved. Good business performance in the Care Chemicals division contributed to this. Prices of vitamins, in particular, were increased, and fixed costs were reduced.
Sales in the Functional Solutions segment increased slightly due to higher volumes and prices. The Catalysts division in particular made a significant contribution to this rise despite negative currency effects. Earnings decreased. Considerably higher earnings in the Catalysts division could not fully offset declines mainly in Construction Chemicals and also in Coatings.
Sales in the Agricultural Solutions segment increased due to higher volumes and sales prices compared with the first quarter of 2007. Earnings therefore also increased significantly.
The strongest sales growth was again posted in the Oil & Gas segment. This was due to higher crude oil prices and increased natural gas production in the Exploration & Production business sector as well as sales volume increases in the Natural Gas Trading business sector.
The Oil & Gas segment also posted the highest increase in income from operations. The decline in earnings in the Natural Gas Trading business sector was more than offset by the volume and price-related increase in the Exploration & Production business sector.
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.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "UBM China (Shanghai)")
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
