BASF: 2nd Quarter Results
The business of BASF SE, Ludwigshafen, Germany, performed solidly in the second quarter. The company improved sales by 6 % to EUR 19.5 billion and income from operations (EBIT) before special items increased by EUR 253 million to EUR 2.5 billion. While sales volumes declined in the chemicals business, which comprises the Chemicals, Plastics, Performance Products and Functional Solutions segments, the main contribution came from the strong performance of the Agricultural Solutions and Oil & Gas segments. In the first half of 2012, sales were EUR 40.1 billion, 6 % more than in the same period of the previous year. At over EUR 5 billion, EBIT before special items matched the level of the first half of 2011.
Sales in the Plastics segment surpassed the level of the second quarter of 2011. While sales volumes were weaker, positive currency effects in particular boosted sales growth. Lower margins for some basic products led to a significant decline in earnings.
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