BASF Ag has announced that its 2000 sales and income from operations before special items were the highest in the history of the company. Sales increased by 22 percent, approaching E36 billion. As a result, the company plans to pay out a dividend of E2 per share, the highest ever in BASF’s history.
According to the company, the record performance it registered in 2000 was precipitated by a rapid and precise restructuring of its portfolio. Among these were strategic acquisitions, joint ventures and the sale of its pharmaceuticals activities to Abbott, allowing for significant financial expansion. The result of these and other moves was double-digit sales growth in all segments and regions, with volume increased each quarter by an average of 6.5 percent. In North America specifically, BASF grew faster than the market, increasing sales by 24 percent, according to the company.