The negative effects from the asset swap with Gazprom displayed their full impact, but volatile raw material prices made the toppings. Q1 sales clearly dropped by 29% (to €14,208m), of which -22% stemming from divestments and -6% from lower sales prices. By contrast, the gross profit margin developed very positively (32.9% after 26.6%) despite unchanged volumes. EBITDA slightly weakened (-3% to €2,812m) and net profit attributable to shareholders rose +18% to €1,387m. Operating

29 Apr 2016
Q1 figures: a notch weaker than expected, but still OK

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Q1 figures: a notch weaker than expected, but still OK
The negative effects from the asset swap with Gazprom displayed their full impact, but volatile raw material prices made the toppings. Q1 sales clearly dropped by 29% (to €14,208m), of which -22% stemming from divestments and -6% from lower sales prices. By contrast, the gross profit margin developed very positively (32.9% after 26.6%) despite unchanged volumes. EBITDA slightly weakened (-3% to €2,812m) and net profit attributable to shareholders rose +18% to €1,387m. Operating