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BASF took a solid start in 2012

April 28/2012
(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.

"Increased raw 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.
Author:Anna Larionova
Category:General News
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