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BASF raised sales in Q3 2013 by 1.5%

October 30/2013

MOSCOW (MRC) -- The German chemical concern BASF, a leading global manufacturer of petrochemicals, raised sales in the third quarter of 2013 by 1.5% to around EUR17.7 billion despite significantly negative currency effects, according to the company's press release.

This growth was mainly the result of increased volumes, particularly in the Oil & Gas segment. Income from operations (EBIT) before special items rose by EUR221 million to just under EUR1.7 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.

Income before taxes and minority interests grew by EUR287 million to EUR1.5 billion compared with the previous third quarter. Net income rose by EUR171 million to around EUR1.1 billion.

At EUR4.2 billion, sales in the Chemicals segment were 8% below the level of the third quarter of 2012. Reduced prices dampened sales, especially in the Monomers division. In addition to negative currency effects, lower volumes in all divisions contributed to this sales decrease.

Sales volumes increased in the Performance Products segment. Sales of EUR3.9 billion were just under the level of the previous years quarter, mostly due to currency effects.

In the Functional Materials & Solutions segment, sales rose by 3% to EUR4.4 billion compared with the prior third quarter. While the Catalysts and Performance Materials divisions were able to increase sales through higher volumes, sales declined in the Construction Chemicals and Coatings divisions.

In the Oil & Gas segment, sales were up 25% to EUR3.1 billion thanks primarily to increased volumes in the Natural Gas Trading business sector.

The companys expectations for the global economic environment in 2013 remain unchanged: growth of gross domestic product - 2.0%; growth in industrial production - 2.7%; growth in chemical production - 3.1%.

As MRC informed earlier, BASF increased sales by 3% in the second quarter of 2013 to just under EUR18.4 billion thanks to higher sales volumes in all segments. Income from operations (EBIT) before special items decreased by 5% to around EUR1.8 billion. In the first half of 2013, sales reached around EUR38.1 billion, surpassing the level of the previous first half by 4%. EBIT before special items increased by 3% to more than EUR4 billion.

BASF is the leading chemical company. It produces a wide range of chemicals, for example solvents, amines, resins, glues, electronic-grade chemicals, industrial gases, basic petrochemicals and inorganic chemicals. The most important customers for this segment are the pharmaceutical, construction, textile and automotive industries.
Author:Margaret Volkova
Tags:car components, neftehimiya, construction, tekstil, electrical goods, household chemicals/cosmetics/pharmaceuticals, BASF, Germany.
Category:General News
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