Home / Knowledge / News / Textiles / BASF maintains good biz performance in Q3 in tough time
BASF maintains good biz performance in Q3 in tough time
26
Oct '12
After a solid first half, BASF maintained good business performance overall in the third quarter. Sales rose by 8% to €19 billion, particularly due to higher volumes. At just under €2.1 billion, income from operations (EBIT) before special items was 5% above the level of the third quarter of 2011. The higher contribution from the Oil & Gas and Agricultural Solutions segments more than offset lower earnings in the chemicals business (which comprises the Chemicals, Plastics, Performance Products and Functional Solutions segments).

At the presentations of the results, Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF SE said: “ In the past quarter, the outlook for the world economy has once again not improved and the uncertainty on the international capital markets continues. In China, growth in the third quarter of 2012 has slowed once again compared with the same quarter of the previous year. We see stabilization at the current level in China, but no visible upturn.”
 
The company has adjusted some of its expectations for the global economy (previous forecast in parentheses):
 
Growth of gross domestic product: 2.2% (2.3%)
Growth in industrial production: 2.8% (3.4%)
Growth in chemical production: 2.9% (3.5%)
An average euro/dollar exchange rate of $1.30 per euro ($1.30 per euro)
An average oil price of $110/barrel in 2012 ($110/barrel)
 
BASF does not anticipate an upturn in the global economy or in demand in its chemicals business for the fourth quarter of 2012. “However, we still aim to exceed the 2011 record levels in sales and EBIT before special items,” said Bock. The forecast is supported by the resumption of the crude oil production in Libya and by the company’s successful business with crop protection products. Earnings from the chemicals business in 2012 will not match the level of the previous year.
 
“In this challenging environment, we are concentrating on our strengths and expanding our business, but we are also keeping an eye on the costs and are continuing to optimize our business processes,” said Bock.
 
 


Must ReadView All

Textiles | On 24th Jul 2017

Govt extends deadline for GST composition scheme to Aug 16

The Government on India has extended the deadline for small...

L-R: Dhanapal, JMD, Best Corporation; Prabhu Damodaran, Convenor, ITF; Narayanasamy, MD, Micro Cotspin; Senthilnathan, MD Rasitex India; and Sabapathy, MD, Prasanna Spinning Mills

Textiles | On 24th Jul 2017

TN mills seek partnership with cotton growing states

Spinning mills in Tamil Nadu are seeking stronger partnership with...

Textiles | On 24th Jul 2017

Irani terms GST as a ‘great step towards transparency’

Union textiles minister Smriti Irani has termed the Goods and...

Interviews View All

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

July 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X