Home / Knowledge / News / Textiles / BASF's Chairman remains confident of 2008
BASF's Chairman remains confident of 2008
24
Apr '08
The BASF Group has continued on its successful path in the first three months of 2008. Having posted a further record quarter, it is confident with regard to the coming months. First-quarter sales rose by almost 9 percent to €15.9 billion, while income from operations (EBIT) before special items increased by more than 11 percent compared with the same period of 2007 to almost €2.4 billion.

“Our long-term strategy is paying off. That's most apparent in turbulent times like the ones we're currently seeing in the financial markets. BASF's strategy is not to try to achieve improvements over just a few quarters.

Instead, we strive constantly to keep ahead of the global competition over the long term,” said BASF's Chairman Dr. Jürgen Hambrecht in his presentation of the company's figures for 2007 and the first quarter of 2008 at the first annual meeting of BASF SE on April 24, 2008 in Mannheim.

First-quarter sales rose significantly in the Chemicals segment due to higher volumes and prices. All divisions contributed to the increase in sales with double-digit growth rates.

The excellent earnings level achieved in the same quarter of the previous year was not reached. This was due to a decline in margins for cracker products and decreased plant availability in the Petrochemicals division.

The Plastics segment posted a slight increase in sales compared with the first quarter of 2007. The rise in sales in the Polyurethanes division as a result of continued high demand worldwide more than offset the slight currency-related decrease in the Performance Polymers division.

Must ReadView All

Textiles | On 25th Mar 2017

GST to positively impact retail value chain: CBRE

The implementation of the Goods and Services Tax (GST) bill in India...

Textiles | On 25th Mar 2017

MEGlobal to build first ever US MEG plant

Monoethylene glycol (MEG) producer MEGlobal plans to construct a new...

Courtesy: Ulster Carpet

Textiles | On 25th Mar 2017

Ulster Carpets acquires Griffith Textile Machines

Northern Ireland based manufacturer of carpets, Ulster Carpets said...

Interviews View All

Veronique Lee
Modavanti

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Rupa Sood and Sharan Apparao
Nayaab

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

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

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
March 2017

March 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search