BASF expects record 2010 results
Based on the positive financial results it has reported so far this year, specialty chemicals company BASF believes it will post record results for the full year 2010.
During the third quarter, sales rose 23% to €15.8 billion compared with the same quarter of 2009. Net income increased by €1 billion to €1.2 billion.
Jürgen Hambrecht, chairman of BASF’s board of executive directors, said: “We are now profiting from the favourable economic environment because we further improved our competitiveness in the crisis and made our portfolio even more cyclically resilient through the rapid integration of Ciba.”
Dr Hambrecht added: “We anticipate our sales growth in 2010 will outpace global chemical production. Overall, we aim for sales of around €63 billion and income from operations before special items of more than €8 billion.”
