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(BASF) -- Capacity utilization rates in
the company’s plants were good; in particular, demand in the chemicals business
(Chemicals, Plastics, Performance Products, Functional Solutions) increased
compared with the same quarter of the previous year. Sales grew by 25% to EUR
19.4 bln. The Cognis businesses acquired in December 2010 made a significant
contribution to this substantial sales growth. The earthquake off the coast of
Japan and its aftermath as well as the tense political situation in North Africa
have not yet had a significant impact on BASF’s business.
Compared with the first quarter of 2010, sales volumes rose in nearly all
segments. As a result of the situation in Libya, oil production was suspended at
the end of February 2011; this led to a reduction in oil production volumes in
the Oil & Gas segment. In the Agricultural Solutions segment, prices
declined slightly; all other segments reported price increases.
Income from operations (EBIT) increased by 39% to EUR 2.6 billion
compared with the first quarter of the previous year. EBITDA rose by EUR 738
million to EUR 3.4 billion. The EBITDA margin rose to 17.4% (first quarter of
2010: 17.0%).
mrcplast.com
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