BASF increases sales and nearly triples profits in Q3
BASF has reported very positive results for the third quarter of 2004, announcing a sales increase of 20% and net profit of €337 million ($418.5 million) from €120 million in last year's weak third quarter.
Capacity utilisation of BASF’s plants improved due to strong demand. The high oil price, which has increased even further, allowed the company to pass on some necessary price increases to the market.
Compared with the third quarter of 2003, sales increased 20% to €9.3 billion, and income from operations (EBIT) before special items rose 160% to more than €1 billion.
Cumulative sales in the first nine months of 2004 amounted to €27.7 billion. This was an increase of more than 11% compared with the same period of 2003. EBIT before special items in the first nine months climbed 55% to €3.4 billion.
