Evonik Geschäftsbericht 2012
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Annual Report 2012 t 2012 R l Repo A Annu Openings Creativity and determination open up new perspectives. Evonik Industries AG Rellinghauser Straße 1–11 45128 Essen Germany www. evonik.com Production of Evonik’s Evonik’s Annual Report 2012 This reportreport is is printed printed on on environment-friendly environment-friendly FSC® FSC paper. paper. The The Forest Forest Stewardship Stewardship Council® Council seal is sealan assur- is an anceassuranceProduction that the that of Evonik’stimber the timber usedAnnual usedto Report produce to 2012produce the paper the paper comes comes from fromsustainable sustainable forestry. forestry. This report is printed on environment-friendly FSC® paper. 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If youIf you no nolonger longer need need this this report, report, please please pass pass it iton on to to someone someone else else or or dispose dispose of of it it in in aa paperpaper recyclingrecycling If you no longer need this report, please pass it on to someone else or dispose of it in a paper recycling facility.facility. carbon neutral natureOffice.comcarbon | DE-312-149985 neutral natureOffice.com | DE-312-149985 print productionprint production Supplementary information Evonik Group: Key figures in € million 2008 2009 2010 2011 2012 Sales 15,873 10,518 13,300 14,540 13,629 Adjusted EBITDA1) 2,165 1,607 2,365 2,768 2,589 Adjusted EBITDA margin in % 13.6 15.3 17.8 19.0 19.0 Adjusted EBIT2) 1,298 868 1,639 2,099 1,953 ROCE3) in % 9.0 7.7 15.0 18.7 17.2 Net income 281 240 734 1,011 1,164 Total assets as of December 31 20,115 18,907 20,543 16,944 16,663 Equity ratio as of December 31 in % 25.6 27.6 29.1 35.8 41.0 Cash flow from operating activities 388 2,092 2,075 1,309 1,420 Capital expenditures4) 1,160 569 652 830 1,078 Depreciation and amortization4) 842 712 694 647 639 Net financial debt as of December 31 4,583 3,431 1,677 843 1,163 Employees as of December 31 40,767 33,861 34,407 33,556 33,298 Figures for 2008 include the former Energy Business Area; in 2009 and 2010 these operations were classified as discontinued operations. 1) Adjusted EBITDA = Earnings before interest, taxes, depreciation, amortization and adjustments. 2) Adjusted EBIT = Earnings before interest, taxes and adjustments. 3) Return on capital employed. 4) Intangible assets, property, plant, equipment and investment property. Openings Creativity and determination open up new perspectives. As a creative industrial group and one of the world leaders in specialty chemicals, we are perfectly at ease in areas that are completely new to us. Together with our customers and business partners, we are happy to leave well-trodden paths and strike out in new directions. In fact, our key attribute has always been the ability to deliver pioneering products, solutions and methods that open up new perspectives. Evonik at a glance Evonik is one of the world‘s leading specialty chemicals companies. Around 80 percent of sales come from market Consumer, Health & Nutrition leading positions, which we plan to expand further. We concentrate on high-growth megatrends, especially health, This segment’s products are used principally nutrition, resource efficiency and globalization. in applications in the consumer goods, animal As part of our ambitious growth strategy, we are investing nutrition and healthcare sectors. It comprises considerable amounts to step up our presence in emerging the Consumer Specialties and Health & markets, especially Asia. Important competitive advantages Nutrition Business Units. come from our integrated technology platforms, which we are constantly refining. Our operations are grouped in three AR segments, each of which has two business units which act See page 84 Segment performance as entrepreneurs within the enterprise. Services Resource Efficiency This segment principally comprises Site This segment provides environment-friendly Services and Evonik Business Services. and energy-efficient system solutions. It is It mainly provides services for Evonik’s comprised of the Inorganic Materials and specialty chemicals segments and Corporate Coatings & Additives Business Units. Center, but also serves third parties. AR See page 88 Segment performance AR See page 96 Segment performance Real Estate Specialty Materials The Real Estate segment, which Evonik plans The heart of the Specialty Materials segment to exit entirely in the medium term, focuses is the production of polymer materials and on letting homes to private households in the intermediates mainly for the rubber and plastics federal state of North Rhine-Westphalia. industries. It consists of the Performance Alongside Evonik’s own portfolio of residential Polymers and Advanced Intermediates Business real estate, it includes a 50 percent stake in the Units. housing provider THS. Evonik and THS have bundled the management of their properties in AR the joint venture Vivawest Wohnen. See page 92 Segment performance AR See page 97 Segment Key data for the Consumer, Health & Nutrition segment in € million 2012 2011 External sales 4,204 4,081 Adjusted EBITDA 1,050 1,049 Adjusted EBITDA margin in % 25.0 25.7 Adjusted EBIT 924 917 ROCE in % 48.5 55.9 Employees 6,821 6,384 Key data for the Resource Efficiency segment in € million 2012 20111) External sales 3,131 4,045 Adjusted EBITDA 655 765 Adjusted EBITDA margin in % 20.9 18.9 Adjusted EBIT 517 611 ROCE in % 32.4 29.5 Employees 5,755 6,381 1) Including the carbon black business until July 2011. Key data for the Specialty Materials segment in € million 2012 2011 External sales 4,843 4,880 Adjusted EBITDA 843 907 Adjusted EBITDA margin in % 17.4 18.6 Adjusted EBIT 691 748 ROCE in % 38.2 43.9 Employees 6,134 6,846 Annual Report Evonik Industries | Letter from the Chairman of the Executive Board In 2012 the global economy was dominated by uncertainty. The widespread sovereign debt crisis in Europe, concern about the consolidation efforts in the USA and declining growth rates in emerging markets dampened the sentiment of companies and investors. Moreover, global economic growth fell short of expectations. As a consequence, the development of the global financial markets was marked by high volatility and considerable uncertainty. Evonik was directly affected by this as it resulted in cancelation of our planned stock market listing. However, that has not altered our promising growth prospects. On the contrary, despite the difficult global economic environment, in 2012 Evonik’s figures were close to the previous year’s very good level. That is a sound basis. Despite the somewhat mixed financial and economic data, I am therefore confident about the future of Evonik. Our direction and strategy are right. That is shown by our performance and our figures. It also confirms our goal of making Evonik a leading global specialty chemicals company that systematically strives to expand its outstanding market and competitive Dr. Klaus Engel, Chairman of the Executive Board position and intends to continue to grow in attractive markets and areas of business in the future yet keep costs in check. We are building on firm founda- tions. Our investments are focused on global megatrends and growth regions, “It’s our goal to make Evonik a leading global in keeping with our high innovative strength and increasing presence on tomorrow’s markets. Last year alone, the global population increased by 80 mil- specialty chemicals company that systematically lion people, and that trend is set to gain momentum year by year. Each of the strives to expand its outstanding market and planet’s inhabitants has a right to free access to clean water, a healthy diet, competitive position.” health care and housing. A plentiful supply of energy is a key precondition for rising prosperity and increasing purchasing power, not just in the emerging markets and developing nations. Solutions that save energy and resources are becoming more important. The rising number of megacities will be accompanied by an increase in traffic density and demand for sustainable individual mobility in the future. Some reports expect the number of vehicles worldwide to virtu- ally double to almost two billion by 2030. Evonik’s portfolio is focused principally on the health, nutrition, resource efficiency and globalization megatrends. In these areas we offer technologies, processes and products that create genuine added value for our customers. Our amino acids help make fish and meat production more efficient and more Letter from the Chairman of the Executive Board In 2012 the global economy was dominated by uncertainty. The widespread sovereign debt crisis in Europe, concern about the consolidation efforts in the USA and declining growth rates in emerging markets dampened the sentiment of companies and investors. Moreover, global economic growth fell short of expectations. As a consequence, the development of the global financial markets was marked by high volatility and considerable uncertainty. Evonik was directly affected by this as it resulted in cancelation of our planned stock market listing.