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BASF has had a powerful start to 2011

May 06/2011

(BASF) -- Capacity utilization rates in the companys 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 BASFs 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%).

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