BASF: Figures Better than Expected
BASF announced first figures for the third quarter of 2009. Sales were EUR 12.8 billion and thus 19% less than in the same period of 2008 and 2.4% more than in the second quarter of 2009. The preliminary figure for third-quarter income from operations (EBIT) before special items was EUR 1.25 billion, 20% less than in the same period of 2008 and 9.5% more than in the second quarter of 2009. These figures exceed the consensus analysts’ estimates available to BASF.
Furthermore, the integration of the former Ciba activities is proceeding faster than expected and higher special charges will therefore be included in the third quarter.
Impulses for growth are coming from Asia, especially China, as well as from parts of South America. Overall, markets have stabilized at a low level.
BASF will present its full third-quarter results including all earning figures at its Fall Conference Call on October 29, 2009.
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