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Despite negative currency effects BASF Q3 sales rise 1.5%
25
Oct '13
BASF raised sales in the third quarter of 2013 by 1.5% to around €17.7 billion despite significantly negative currency effects. This growth was mainly the result of increased volumes, particularly in the Oil & Gas segment. Income from operations (EBIT) before special items rose by €221 million to just under €1.7 billion.

 Third quarter 2013

-Sales €17.7 billion (plus 1.5%)
-EBIT before special items €1.7 billion (plus 15.0%)
 

January – September 2013

-Sales €55.8 billion (plus 3.1%)
-EBIT before special items €5.7 billion (plus 5.9%)
-Successful business development for Functional Materials & Solutions
-Outlook for 2013 confirmed: increase in sales and earnings expected; environment to remain challenging
 
“Our business performance was robust in the third quarter of 2013. The increase in earnings was largely due to higher contributions from the Functional Materials & Solutions and Performance Products segments in addition to lower charges in Other,” said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF SE.

Compared with the previous third quarter, EBIT rose by €279 million to about €1.7 billion. Income before taxes and minority interests grew by €287 million to €1.5 billion compared with the previous third quarter. Net income rose by €171 million to around €1.1 billion. Earnings per share were €1.20 in the third quarter of 2013, compared with €1.01 in the same quarter of 2012.

Bock: “We do not anticipate an upturn in the global economy for the fourth quarter of 2013. The environment is likely to remain challenging: We anticipate uneven development marked by economic uncertainty. Currency effects will continue to negatively impact sales and earnings in the fourth quarter. Nevertheless, we still aim to exceed the 2012 levels in sales and EBIT before special items.”

In addition to innovation-driven acquisitions and investments in its production Verbund, BASF is continuing the restructuring of its portfolio. One focus is on the Performance Products segment where the growth and profitability of some standard products do not yet meet requirements.

As announced, a number of measures in the pigments business are being implemented to strengthen competitiveness and sharpen its customer focus. At the same time, as the market leader in pigments, BASF will continue to invest in its production network as well as in research and development.

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BASF


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