|
 |
|
|
|||
 |
 
  
|
 |
|
 Oct. 31, 2012 Source: BASF Global news release To view entire report, click here. After a solid first half, we maintained good business performance in the third quarter. We increased sales by 8% to €19 billion, particularly due to higher volumes. Sales volumes grew principally as a result of increased crude oil production. Positive currency effects also contributed to sales growth. At just under €2.1 billion, income from operations before special items was €106 million above the level of the third quarter of 2011. The higher contribution from the Oil & Gas segment and our successful business with crop protection products more than offset lower earnings in the chemicals business. We raised our sales volumes compared with the previous third quarter. This was largely attributable to increased production volumes in the Oil & Gas segment. We were also able to improve sales volumes in the Chemicals and Agricultural Solutions segments. Sales significantly increased in the Agricultural Solutions segment. The start to the season in South America and fall business in the Northern Hemisphere were both very successful. In addition to improved sales volumes, currency effects also contributed positively to sales development. Earnings were considerably above the level of the previous third quarter thanks to higher volumes. Currency effects had a positive impact on sales in all segments. Our sales prices were below the level of the previous third quarter. Portfolio measures reduced sales by 1%; this effect is primarily attributable to the divestiture of our styrenic plastics business, which was contributed to the Styrolution joint venture as of October 1, 2011. In the Chemicals segment, sales grew significantly in comparison with the previous third quarter. This was due in particular to sales to Styrolution Group companies in addition to positive currency effects and higher sales volumes. Earnings declined considerably, owing to lower margins as well as to plant shutdowns in the Petrochemicals division. Sales rose in the Plastics segment, especially as a result of currency effects. In the Polyurethanes division, we also increased sales volumes and prices. Lower margins for polyamide precursors led to a considerable decline in earnings compared with the same period of the previous year. Sales in the Performance Products segment were slightly above the level of the third quarter of 2011. This was mainly the result of positive currency effects. Lower volumes and sales prices weakened sales growth, however. Earnings declined as a result of higher costs due to idle capacity as well as increased spending on research and development. Tweet |
|
|
|
|
|
|
|
|
 |
||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
