|(basf) -- BASF Sales
in the fisrt quarter of 2012 were higher than in the very good first quarter of
the previous year and rose 6% to EUR20.6 billion. Income from operations (EBIT)
before special items decreased as expected and, at EUR2.5 billion (down 7%), was
slightly below the same quarter of the previous year.
material costs could not be fully passed on in all business areas, which put
pressure on our margins. Our Oil & Gas and Agricultural Solutions segments
increased their earnings significantly," said Dr. Kurt Bock, Chairman of the
Board of Executive Directors of BASF, at the Annual Shareholders’ Meeting in the
Congress Center Rosengarten in Mannheim.
Compared with the first quarter
of the previous year, EBIT grew by 22% to EUR3.1 billion. Special items in EBIT
resulted primarily from gains of EUR645 million on the disposal of thefertilizer
business. EBITDA rose by EUR525 million to EUR3.9 billion.