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Sales

Group sales in the third quarter came to €2,159 million, down €177 million or 7.6% from the same period a year ago. Sales were supported by a slight portfolio effect of 0.5% and by positive currency effects of 5.4% that were largely attributable to the U.S. dollar. An overall 7.1% adjustment in selling prices driven by the drop in raw material costs – especially in the Performance Polymers segment – hampered sales development, as did a 6.4% decline in volumes. After adjusting for portfolio and currency effects, operational sales were thus 13.5% lower than in the prior-year quarter.

Effects on Sales
     
% Q3 2012 9M 2012
     
Price (7.1) 1.6
Volume (6.4) (4.8)
Currency 5.4 4.7
Portfolio 0.5 3.3
  (7.6) 4.8

Compared to the third quarter of 2011, the performance of our Performance Polymers segment was affected by the adjustment in selling prices caused by the lower raw material costs, particularly for the key raw material butadiene, and by declining volumes. Positive shifts in exchange rates had the opposite effect. The segment’s sales receded by 16.8% overall.

By contrast, sales of the Advanced Intermediates segment rose by 8.6% against the prior-year quarter. In light of continuing heavy demand for agrochemicals, we were able to raise volumes and selling prices, with price increases for raw materials, particularly toluene and benzene, being passed along to the market. Sales growth was supported by positive currency effects.

The Performance Chemicals segment grew sales by 6.1% compared to the prior-year quarter. With volumes stable, modest declines in prices were amply offset by favorable changes in currency parities and the contributions from the acquisitions made in our Rhein Chemie, Functional Chemicals and Material Protection Products business units in the previous quarters.

LANXESS experienced lower demand in all regional markets. Latin America was the most-affected region, while Germany proved to be the company’s most resilient region with only a 5% decrease in sales. The decline in sales in all markets reflected the negative price and volume trends in major customer industries. Business development in the Performance Polymers segment was largely responsible for the overall drop in sales.

Sales by Segment
                 
€ million Q3 2011 Q3 2012 Change % Proportion of Group sales % 9M 2011 9M 2012 Change % Proportion of Group sales %
                 
Performance
Polymers
1,433 1,192 (16.8) 55.2 3,798 4,010 5.6 57.5
Advanced
Intermediates
371 403 8.6 18.7 1,182 1,231 4.1 17.7
Performance
Chemicals
523 555 6.1 25.7 1,640 1,698 3.5 24.3
Reconciliation 9 9 0.0 0.4 32 32 0.0 0.5
  2,336 2,159 (7.6) 100.0 6,652 6,971 4.8 100.0

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