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.

See also:


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."

Share

Featured Articles

Exclusive: Making the UAE a global force in cybersecurity

His Excellency Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government, on plans to build the world’s most secure digital society for a safer society

UAE cyber leaders – back to basics to prepare for the future

HE Dr Mohamed Al-Kuwaiti, Head of Cyber Security, UAE Government and Dr Aloysius Cheang, Chief Security Officer Huawei UAE, on the future of cybersecurity

Top 10: Procurement & Supply Chain LIVE speaker highlights

Global industry leaders descended on London for a two-day conference dedicated to shaping the future of digital procurement and supply chain

10 apps to improve wellbeing on World Mental Health Day

Leadership & Strategy

Meet the COO: Brook Sims of MAC Diversity Recruiters

Leadership & Strategy

Best business books to improve leadership strategy

Leadership & Strategy