BASF: Powerful Start to 2011
In the 1st quarter 2011 sales of BASF SE, Ludwigsburg, Germany, grew by 25% to EUR 19.4 billion. The Cognis businesses acquired in December 2010 made a significant contribution to this substantial sales growth. “Despite strong increases in raw materials costs, income from operations before special items rose by 40% to EUR 2.7 billion,” said Dr. Jürgen Hambrecht, Chairman of BASF’s Board of Executive Directors at the Annual Meeting in the Congress Center Rosengarten in Mannheim, Germany. Hambrecht and Dr. John Feldmann are retiring from the BASF’s Board of Executive Directors at the end of the Annual Meeting. At that time, the new Board led by Dr. Kurt Bock will take office.
Compared with the first quarter of 2010, sales volumes rose in nearly all segments. Income from operations (EBIT) increased by 39% to EUR 2.6 billion compared with the first quarter of the previous year. EBITDA rose by EUR 738 million to EUR 3.4 billion. The EBITDA margin rose to 17.4% (first quarter of 2010: 17.0%). Net income increased by EUR 1.4 billion to EUR 2.4 billion.
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