Sales

1,336.3

1,218.5

9.7

106.9

107.4

–0.5

1,443.2

1,326.0

8.8

Royalty and commission income*

70.5

96.1

–26.7

0.7

0.1

–

71.2

96.3

–26.0

Total revenues

1,406.8

1,314.7

7.0

107.6

107.5

0.0

1,514.4

1,422.2

6.5

Gross margin

1,186.5

1,126.2

5.4

72.8

73.5

–0.9

1,259.4

1,199.6

5.0

Marketing and selling expenses*

–322.2

–318.0

1.3

–56.8

–53.2

6.7

–379.0

–371.2

2.1

Royalty and commission expenses*

–116.9

–94.3

24.0

–0.2

–0.4

–59.2

–117.0

–94.7

23.6

Administration expenses

–62.3

–66.5

–6.2

–5.9

–5.9

0.9

–68.3

–72.3

–5.7

Other operating expenses and income

–65.1

–54.8

18.8

–2.6

–1.0

159.4

–67.7

–55.8

21.3

Research and development

–304.4

–271.9

12.0

–4.8

–4.3

11.7

–309.3

–276.2

12.0

Operating result

178.0

175.7

1.3

1.5

7.9

–80.9

179.5

183.6

–2.2

Exceptional items

–

–70.0

–

–

–

–

–

–70.0

–

Earnings before interest and tax (EBIT)

178.0

105.7

68.4

1.5

7.9

–80.9

179.5

113.6

58.1

Net operating assets**

10,336.2

10,015.9

3.2

338.3

336.0

0.7

10,674.5

10,351.9

3.1

Segment liabilities**

–1,148.9

–1,078.2

6.6

–75.0

–76.9

–2.4

–1,224.0

–1,155.1

6.0

Capital spending on property, plant and equipment

46.0

51.2

–10.1

1.4

3.3

–59.1

47.4

54.5

–13.1

Investments in intangible assets

11.5

19.7

–41.8

0.3

0.3

–23.2

11.8

20.1

–41.4

Depreciation

–181.8

–188.6

–3.6

–2.8

–2.2

24.1

–184.5

–190.8

–3.3

Impairment losses

–17.2

–

–

–

–

–

–17.2

–

–

Net cash flows from operating activities

246.1

301.1

–18.3

–1.2

6.8

–

244.9

307.9

–20.5

Net cash flows from investing activities

–54.7

–73.7

–25.8

–1.3

–3.6

–64.6

–56.0

–77.4

–27.7

Free cash flow

191.4

227.4

–15.8

–2.5

3.2

–

188.9

230.5

–18.1

Underlying free cash flow

191.4

227.4

–15.8

–2.5

3.2

–

188.9

230.5

–18.1

FCR in %

13.6

17.3

–2.3

2.9

12.5

16.2

ROS in %

12.7

13.4

1.4

7.3

11.9

12.9

Liquid Crystals

Performance & Life Science Chemicals

Chemicals

EUR million

Q1
2010

Q1
2009

Change
in %

Q1
2010

Q1
2009

Change
in %

Q1
2010

Q1
2009

Change
in %

Sales

235.5

128.0

83.9

344.2

302.9

13.6

579.6

431.0

34.5

Royalty and commission income*

3.5

3.2

7.6

1.4

2.1

–30.3

4.9

5.3

–7.2

Total revenues

238.9

131.2

82.1

345.6

305.0

13.3

584.5

436.2

34.0

Gross margin

162.7

55.7

192.3

190.2

146.4

29.9

352.9

202.1

74.6

Marketing and selling expenses*

–6.7

–6.4

3.7

–81.5

–75.8

7.6

–88.2

–82.2

7.3

Royalty and commission expenses*

–2.4

–0.3

–

–2.8

–2.4

17.5

–5.2

–2.7

93.4

Administration expenses

–4.1

–4.5

–8.6

–15.7

–16.1

–2.7

–19.8

–20.6

–4.0

Other operating expenses and income

–13.1

–8.5

52.9

–20.0

–13.0

54.0

–33.1

–21.5

53.6

Research and development

–23.8

–22.2

6.9

–14.3

–14.0

1.9

–38.1

–36.3

5.0

Operating result

111.8

12.7

–

54.9

24.5

124.2

166.7

37.2

–

Exceptional items

–

–

–

–

1.2

–

–

1.2

–

Earnings before interest and tax (EBIT)

111.8

12.7

–

54.9

25.7

113.8

166.7

38.4

–

Net operating assets**

859.6

837.4

2.6

1,185.5

1,120.0

5.8

2,045.1

1.957.4

4.5

Segment liabilities**

–72.8

–78.6

–7.5

–170.8

–151.6

12.7

–243.5

–230.2

5.8

Capital spending on property, plant and equipment

6.6

14.9

–56.1

10.6

19.6

–45.9

17.1

34.5

–50.3

Investments in intangible assets

0.3

1.5

–77.4

1.0

2.8

–65.0

1.3

4.3

–69.2

Depreciation

–16.0

–14.6

9.0

–19.0

–17.5

8.8

–35.0

–32.1

8.9

Impairment losses

–9.0

–

–

–

–

–

–9.0

–

–

Net cash flows from operating activities

110.4

41.7

164.8

35.2

14.9

135.6

145.6

56.6

157.1

Net cash flows from investing activities

–6.8

–16.3

–58.5

–12.5

–22.1

–43.3

–19.3

–38.4

–49.8

Free cash flow

103.6

25.3

–

22.7

–7.2

–

126.3

18.2

–

Underlying free cash flow

103.6

25.3

–

22.7

–7.2

–

126.3

18.2

–

FCR in %

43.4

19.3

6.6

–2.3

21.6

4.2

ROS in %

46.8

9.7

15.9

8.0

28.5

8.5

Corporate and Other

Group

EUR million

Q1
2010

Q1
2009

Change
in %

Q1
2010

Q1
2009

Change
in %

Sales

–

–

–

2,022.8

1,756.9

15.1

Royalty and commission income*

–

–

–

76.1

101.5

–25.1

Total revenues

–

–

–

2,098.9

1,858.5

12.9

Gross margin

–

–

–

1,612.2

1,401.7

15.0

Marketing and selling expenses*

–1.1

–0.4

142.8

–468.2

–453.9

3.2

Royalty and commission expenses

–

–

–

–122.2

–97.3

25.6

Administration expenses

–16.3

–13.9

17.2

–104.4

–106.9

–2.4

Other operating expensesand income

–34.2

–7.8

335.4

–134.9

–85.2

58.4

Research and development

0.1

–0.4

–

–347.2

–312.9

11.0

Operating result

–51.5

–22.6

127.7

294.8

198.1

48.8

Exceptional items

–

–

–

–

–68.8

–

Earnings before interest and tax (EBIT)

–51.5

–22.6

127.7

294.8

129.3

127.9

Net operating assets**

20.5

37.4

–45.1

12,740.1

12,346.7

3.2

Segment liabilities**

–34.8

–15.7

122.0

–1,502.3

–1,401.0

7.2

Capital spending on property, plant and equipment

0.1

–

–

64.7

89.0

–27.4

Investments in intangible assets

0.9

2.6

–64.4

14.0

27.0

–48.1

Depreciation

–0.6

–1.0

–35.2

–220.2

–224.0

–1.7

Impairment losses

–

–

–

–26.2

–

–

Net cash flowsfrom operating activities

–111.8

–81.8

36.6

278.7

282.7

–1.4

Net cash flowsfrom investing activities

1,344.8

–250.6

–

1,269.5

–366.4

–

Free cash flow

–120.4

–84.7

42.2

194.8

164.0

18.8

Underlying free cash flow

–108.6

–84.7

28.2

206.6

164.0

26.0

FCR in %

–

–

9.8

8.8

ROS in %

–

–

14.0

10.7