Another record year at BASF
German leather chemicals producer BASF has reported another record year in 2007, posting a 10% rise in sales to reach almost €58 billion, driven by particularly strong growth in the emerging markets of Asia Pacific and South American.
Despite rising energy, transport and raw material costs, the company’s Chemicals segment posted impressive double-digit with sales totalling more than €14 billion, while sales at its Performance Products segment climbed more than 15% to €11.7 billion.
In terms of geographical regions, sales in Europe rose 9%; sales in North America increased 13% in local currency terms and by 5% in euro terms, driven by significantly higher sales in Chemicals and Performance Products; Asia Pacific posted an impressive 25% rise in local currency terms and 18% in euro terms, again driven by the Chemicals segment; and sales in the South America, Africa, Middle East region increased by a staggering 28% in local currency terms and 24% in euro terms.
“This is a great achievement," commented Dr Jürgen Hambrecht, chairman. “Our employees can be particularly proud of this great achievement because the economic challenges have increased in recent months."
Despite the current challenges, the company also remains optimistic for 2008. “The first weeks of 2008 have run on smoothly from the past year for BASF. The level of orders remains strong and the capacity utilisation rates of our plants are high. We therefore expect that BASF’s business will also develop positively in 2008," added Dr Hambrecht.
