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Advanced Intermediates

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  Q3 2011 Q3 2012 Change 9M 2011 9M 2012 Change
                     
  € million Margin % € million Margin % % € million Margin % € million Margin % %
                     
Sales 371   403   8.6 1,182   1,231   4.1
EBITDA pre exceptionals 68 18.3 75 18.6 10.3 208 17.6 224 18.2 7.7
EBITDA 68 18.3 75 18.6 10.3 208 17.6 224 18.2 7.7
Operating result (EBIT) pre exceptionals 52 14.0 58 14.4 11.5 158 13.4 174 14.1 10.1
Operating result (EBIT) 52 14.0 58 14.4 11.5 158 13.4 174 14.1 10.1
Cash outflows for capital expenditures1) 26   22   (15.4) 59   54   (8.5)
Depreciation and amortization 16   17   6.3 50   50   0.0
Employees as of September 30
(previous year: as of Dec. 31)
2,883   2,855   (1.0) 2,883   2,855   (1.0)
1) Intangible assets and property, plant and equipment

Sales in the Advanced Intermediates segment rose by 8.6% to €403 million in the third quarter of 2012. Selling prices were raised by 3.5% due to higher procurement prices for raw materials. Volumes increased by 1.6% in light of the steady demand. In addition, shifts in exchange rates gave a positive effect of 3.5%.

The positive demand situation for agrochemicals persisted in the third quarter of 2012, supporting both of the segment’s business units. The Saltigo business unit benefited from this through higher volumes, while the Advanced Industrial Intermediates business unit achieved year-on-year volume growth in its sale of products from the integrated aromatics production network to the agrochemical industry. Higher demand from customers in the flavors and fragrances industry helped to compensate for lower volumes of products for the construction industry. Higher prices for raw materials, including toluene and benzene, were passed along to the market in the form of selling price adjustments. In regional terms, Germany was the growth engine in this segment, posting the largest increase in business in absolute and relative terms.

EBITDA pre exceptionals in the Advanced Intermediates segment increased by €7 million to €75 million against the prior-year quarter, partly due to the higher volumes and to favorable shifts in exchange rates. The inflation in raw material costs was offset by price adjustments at the segment level. The EBITDA margin rose against the already strong prior-year level from 18.3% to 18.6%.

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