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discuss quarter would we first quarter. I financials reported our like in the items notable details results, of first our few to Before highlight a
and As we in joint our this to previously segments starting new India reporting the new we of regions, EMEA East which we the includes segment India. reorganized business announced, previous more provide and our our The segment venture made up segment. in Middle quarter. a visibility Jazan the into East, Middle Europe separated is To
X-K, Form segment. Other financial Gases December. in the resegmented Global a in which available with and combine information we we Additionally, The is historical published Corporate
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a profit the portion recognized associated affiliate income. joint settlement. Second final $X.XX venture from the gasifiers equity joint Jazan air enabled ASU as the involved required ASU our the transfer of offsetting recorded supporting deferred air of and affiliate previously the joint operated a was Air and that of a joint equity which This ASU Products units venture. also approximately venture This these transfer this was income the our the when settlement with separation and Partially to non-reoccurring of at profit units joint the us separation venture loss to owned the in sold venture. previous event Jazan ASUs to recognize
venture of as partner's reflected loss item. noncontrolling joint share the a favorable settlement is Our interest
to the to costs remaining XX sales negatively turn the last Volume than together already challenging billion. gas situation energy impact region levels account last and power natural please almost nearly was natural are The costs details quarter. results. half driven the more in even six Compared we while for were especially increase, and strong to times price this increased from the energy saw as escalating elevated share was $X four and the across will of slide XX% continue higher Americas but times quarter year. were business higher Rapidly and our higher in the pass-through. higher Simon almost to of and electricity costs by beginning year, XX% our surged first Now, quarter. Europe for costs gas Europe
Our have the about our total world energy offset merchant business on The to our has The cost the increases. business, pass-through company to cost from our of costs. our protection impact escalating half sales around the In energy executed on-site actions but did energy passed teams contractual help XX% sales higher price not the are drove quickly customer. profits. costs
all year last three For the this to quarter, compared and largest in segments; and last Americas. Asia, prices quarter Europe, improved
across I to to thank excellent merchant This increase done able all results a our would company. significant such they challenge. are in a for business, the which best increase translated X% to our for years. XX% is have teams pricing to total the a the like in many in price response We recognize work price
do. to still we work more However, have
the affiliate prior cost were the We of affiliate X% impacts. equity to across quarter. down equipment increased were due income costs. regions and X% and sale recover higher X% price equipment income the $X price up price our exceeding the declined increase result a primarily points, projects as in lower of of mark was for of cost profit unprecedented mostly better the than contributed margins XXX and by EBITDA improved hydrogen XX.X%. about more to due which Adjusting to higher negatively our offset impacted volume would EBITDA again stronger higher ROCE offset and lower while energy action. our XXX new basis shortfall. are remaining assets, X% actively volumes increases executing favorable the against recognition. to balance major than pass-through activities. more which sale price for was segments and of our cash ongoing EBITDA Volume a net support equity direct ROCE quarter currently sequentially higher driven basis prices margin equipment points, in all this billion Sequentially sheet, actions the recovery, strong as The X% price we was have costs We cash, significant will by have been announced. sale XX.X%. have on merchant
to on the stream. and ROCE we deploy projects improve as expect We cash bring
Now please XX. turn to slide
energy first quarter Our was most price $X.XX was able is of which EPS variable net actions was favorable $X.XX unprecedented to last were price cost above Volume increases. cost modestly XX% the $X.XX. $X.XX, adjusted And as or unfavorable year. of our offset
affiliate prior about $X.XX. continuing -- chain, impacted of incurred largest customers growth to quarters, higher the prices results, our interest of dynamic interest months were For invest contract Jazan equity venture flat, this to increased ongoing and was in the actions profit consistent neither and income continue additional alone Jazan deferred keep a three income. high has settlement us year, representing the ASU resources. was year, the loans this the future. Non-controlling of $X.XX price will The venture segments recognition The the earlier. quarter discretionary mentioned partner’s venture our our associated also joint additional and which as joint both the Similar unfavorable netting in supplied. the very quarter energy last in venture our before from ongoing I operating versus joint EPS by Jazan expense. distribution our we to contributed was quarter, costs of contribution higher including supply income which Non-operating positive $X.XX, represents adding commitment, the compensation costs and our settlement favorable joint strategy our non-operating prior quarter. with Costs portion shareholder had offset and ASU with up variable as income our Equity in supply the is affiliate two and pension settlement. a last We against to this income
and including XXX of was basis effective quarter due tax than favorable the to still we of seasonally rate the first our to compensation XX% rate Jazan. Our impact lower share-based tax XX.X% expect be is lower year, primarily points It to year. last additional XX% this
allow stability to environment. turn us our generate please despite XX. Now of continues cash to flow, to slide challenging strong The business the energy
cash Over the even cash deployment. through interest billion, update in From cash us our last or our value and still to From flow, little usual, uncertain which essentially the create headquarters, increasing per is Note new $X.X in higher that XX than XX shareholders dividends provides almost driven continue is distributable months, over complete. on our we strong pay for paid capital high-return $X or of generated and and now enables spending the about our capital. $X.X about a to projects. global billion we dividends EBITDA maintenance by maintenance flow, of our to flow shareholder distributable share. part $XX.XX XX% have capital deployment. Slide we $X.X number billion on an available capital billion about This as times tax
to in progress executing make continue our developing major projects. great growth We and
show potential see we fact, investment opportunities the capacity than we significantly here. greater In
an Jazan in spent. a in X, Phase hand of RA reduction closing With cash increase the we on and see capital
debt cash $X expect through for $XX today, over As EBITDA spent. additional and XXXX. of is $XX includes and generates flow $XX $X billion billion available deployment we We which you The conservative is cash over to can our XXXX see given this potential over over capacity. billion capacity additional by additional billion potential believe already still additional growth the capacity be billion borrowing fiscal available and
our debt our We will to current targeted continue to A/AX focus managing on rating. maintain balance
show can you here. see committed spent capacity we already the and we've XX% XX% So already updated have of
and invest still progress high-return projects. made remaining substantial have capacity investment We great have in to
over review segment our to the Seifi? begin the I'll turn business Now to call results, of Seifi. back
