‘Good start’ to the year for BASF
01/05/2015
“Our chemicals and our crop protection businesses performed very successfully; earnings in these segments increased significantly,” said its chairman, Dr Kurt Bock.
The chemicals business comprises the Chemicals, Performance Products (which includes leather chemicals) and Functional Materials & Solutions segments.
Sales grew by 4% to €4 billion in the Performance Products segment. Positive currency effects in all divisions more than offset slightly lower overall sales volumes and declining prices. Earnings improved by €88 million to €515 million. Aside from lower raw material costs, this was largely the result of efficiency and restructuring measures.
BASF said of the outlook: “In a volatile and challenging environment, BASF aims to perform well and slightly increase sales in 2015. This will be largely supported by the sales growth anticipated in the Functional Materials & Solutions and Performance Products segments. BASF wants to raise sales volumes overall, excluding the effects of acquisitions and divestitures.”
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