BASF: Results in 2009
Today BASF SE, Ludwigshafen, Germany, has demonstrated its results in 2009 at the company’s Annual Press Conference. In 2009, sales declined by 19% to EUR 50.7 billion. All segments posted lower sales with the exception of Performance Products and Agricultural Solutions. Income from operations (EBIT) before special items fell by 29% to EUR 4.9 billion. The Plastics segment improved earnings slightly, while Agricultural Solutions even achieved a new record. Earnings declined in the remaining segments, in some cases considerably. Overall, BASF fell just short of achieving its goal of earning a premium on its cost of capital due to the costs for the integration of Ciba. Cash provided by operating activities rose further by EUR 1.3 billion to almost EUR 6.3 billion. This was primarily due to the company’s success in reducing net working capital. Free cash flow – after deduction of payments related to property, plant and equipment and intangible assets – was also very high at EUR 3.8 billion. Despite the Ciba acquisition, BASF still has a very solid equity ratio of 36%.
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