05.01.15
The year started off well for BASF. In the first quarter of 2015, higher volumes and positive currency effects led to sales growth. Compared with the first quarter of 2014, sales grew by 3% to €20.1 billion.
“Our chemicals and our crop protection businesses performed very successfully; earnings in these segments increased significantly,” said Dr. Kurt Bock, chairman of the Board of Executive Directors.
The chemicals business comprises the Chemicals, Performance Products and Functional Materials & Solutions segments. Income from operations (EBIT) before special items was down by 2% to just under €2.1 billion as a result of considerably higher charges from Other, mainly due to higher provisions for the long-term incentive (LTI) program as a result of the positive performance of BASF shares.
EBIT fell by €226 million to €2.0 billion compared with the first quarter of 2014. The previous first quarter had included tax-free special income from the disposal of shares in non-BASF-operated oil and gas fields in the British North Sea. At minus €164 million, the financial result was above the level of the first quarter of 2014 (minus €183 million).
Income before taxes and minority interests fell by €207 million quarter-on-quarter to €1.8 billion. Net income declined by €290 million to €1.2 billion. Earnings per share were €1.28 in the first quarter, compared with €1.59 in the same period of 2014.
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. EBIT before special items in 2015 will likely match the previous year’s level.
Sales in the Chemicals segment fell 12% to €3.9 billion compared to the previous first quarter. This was largely due to falling prices on account of a sharp drop in raw material prices. Due to improved margins for a range of product lines, especially in Europe, EBIT before special items rose €125 million to €726 million.
In the Functional Materials & Solutions segment, sales of €4.6 billion were 8% higher than in the previous first quarter as a result of positive currency effects in all divisions. Volumes and prices dipped slightly overall. EBIT before special items improved by €120 million to €431 million.
“Our chemicals and our crop protection businesses performed very successfully; earnings in these segments increased significantly,” said Dr. Kurt Bock, chairman of the Board of Executive Directors.
The chemicals business comprises the Chemicals, Performance Products and Functional Materials & Solutions segments. Income from operations (EBIT) before special items was down by 2% to just under €2.1 billion as a result of considerably higher charges from Other, mainly due to higher provisions for the long-term incentive (LTI) program as a result of the positive performance of BASF shares.
EBIT fell by €226 million to €2.0 billion compared with the first quarter of 2014. The previous first quarter had included tax-free special income from the disposal of shares in non-BASF-operated oil and gas fields in the British North Sea. At minus €164 million, the financial result was above the level of the first quarter of 2014 (minus €183 million).
Income before taxes and minority interests fell by €207 million quarter-on-quarter to €1.8 billion. Net income declined by €290 million to €1.2 billion. Earnings per share were €1.28 in the first quarter, compared with €1.59 in the same period of 2014.
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. EBIT before special items in 2015 will likely match the previous year’s level.
Sales in the Chemicals segment fell 12% to €3.9 billion compared to the previous first quarter. This was largely due to falling prices on account of a sharp drop in raw material prices. Due to improved margins for a range of product lines, especially in Europe, EBIT before special items rose €125 million to €726 million.
In the Functional Materials & Solutions segment, sales of €4.6 billion were 8% higher than in the previous first quarter as a result of positive currency effects in all divisions. Volumes and prices dipped slightly overall. EBIT before special items improved by €120 million to €431 million.