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BASF Group Q1 sales fall marginally
02
May '14
BASF announces first quarter performance in chemical business and other businesses. BASF heads a good start to the year in chemicals business, oil and gas business considerably down
 
“We had a good start to the year in our chemicals business and in the Agricultural Solutions segment. We sold more. This more than compensated for the negative effects on sales from the comparatively weak U.S. dollar and currencies in emerging markets,” said Dr. Kurt Bock, Chairman of the Board of Executive Directors, at the Annual Shareholders’ Meeting of BASF SE in the Congress Center Rosengarten in Mannheim. Sales declined considerably in the Oil & Gas segment, however. At €19.5 billion, BASF Group sales were down by 1% overall.
 
Highlights: 
-Sales €19.5 billion (minus 1%)
-EBIT before special items €2.1 billion (minus 3%)
-Robust volumes growth; negative currency effects
-Outlook for 2014 confirmed: slight increase in EBIT before special items expected in still challenging environment
-BASF evaluates largest single-plant investment in the United States
 
Income from operations (EBIT) before special items amounted to €2.1 billion, 3% below the level of the first quarter of 2013. While earnings in the Performance Products and Functional Materials & Solutions segments improved significantly, the contribution from the Oil & Gas segment fell considerably.
 
EBIT included a total of €109 million in special items in the first quarter of 2014. This was largely attributable to special income from the divestiture of shares in non-BASF-operated oil and gas fields in the British North Sea. EBIT therefore grew year-on-year by €80 million to reach €2.2 billion. EBITDA rose by €96 million to €3.0 billion. The financial result decreased by €57 million to minus €183 million.
 
Income before taxes and minority interests improved year-on-year by €23 million to €2.1 billion. Net income grew by €31 million to €1.5 billion. Earnings per share were €1.61 in the first quarter of 2014, compared with €1.57 in the same period of 2013.
 
Click here to view full results.
 

BASF

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