BASF sales up 1.5% to Euro 17.7 bn in Q3

BASF raised sales in the third quarter of 2013 by 1.5% to around Euro 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 Euro 221 million to just under Euro 1.7 billion.
 
“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.
 
ALSO READ: Industry needs to find ways to reduce/reuse and recycle water: Mahesh Rao, Nalco Water

Compared with the previous third quarter, EBIT rose by Euro 279 million to about Euro 1.7 billion. Income before taxes and minority interests grew by Euro 287 million to Euro 1.5 billion compared with the previous third quarter. Net income rose by Euro 171 million to around Euro 1.1 billion. Earnings per share were Euro1.20 in the third quarter of 2013, compared with Euro 1.01 in the same quarter of 2012.
 
Bock added, “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.”