BASF's sales rise by 9% to €15.3bn, good news set to continue

By Johan De Mulder

BASF has reported a 9% rise in sales for its third quarter, with further prosperity forecast for the German chemicals giant.

In a statement released on Tuesday, BASF confirmed €15.3bn worth of sales for the period, putting growth down to high sales prices and good volumes development.

Income from operations rose to €1.8bn, with net income at €1.3bn - though it did take a hit in its Agricultural and Oil & Gas segments, with EBIT decreasing by €14mn in the latter.

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Looking forward, BASF has increased its growth forecast for the remainder of the financial year, projecting a 2.8% increase in GDP and 3.4% growth in chemical production.

"The positive demand development continued in the third quarter of 2017," said Kurt Bock, BASF Chairman. "We achieved solid volume growth, even compared with the strong prior-year quarter.

"For the second half of 2017, we now expect the BASF Group’s EBIT before special items to considerably exceed the level of the second half of 2016."

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