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BASF improves sales 6% in H1 of 2012

26 Jul '12

1 min read

BASF’s business performed solidly in the second quarter. The company improved sales by 6% to €19.5 billion and income from operations (EBIT) before special items increased by €253 million to €2.5 billion. While sales volumes declined in the chemicals business, which comprises the Chemicals, Plastics, Performance Products and Functional Solutions segments, the main contribution came from the strong performance of the Agricultural Solutions and Oil & Gas segments.

In the first half of 2012, sales were €40.1 billion, 6% more than in the same period of the previous year. At over €5 billion, EBIT before special items matched the level of the first half of 2011.

At the presentation of the company’s second-quarter results, Dr. Kurt Bock, Chairman of the Board of Executive Directors, commented on the growing economic risks: “Our customers are continuing to act cautiously and are reducing their inventories, also in expectation of falling prices due to declining raw material costs.”

In addition, the Chinese growth engine has started to stall leading to a decrease in BASF’s sales in local-currency terms in Asia in the second quarter, as they also did in the first quarter of 2012, explained Bock.

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