24 February 2012 06:24 [Source: ICIS news]
SINGAPORE (ICIS)--BASF’s fourth-quarter net income rose by 2.8% to €1.13bn ($1.51bn) from €1.10bn in the same period a year earlier on higher sales, the German chemicals major said in a statement on Friday.
Sales in the fourth quarter grew by 10% year on year to €18.1bn, while earnings before interest, tax, depreciation and amortisation (EBITDA) rose to €2.9bn, from €2.7bn in the same period a year earlier, it said.
In its chemicals segment, the price increase in all divisions led to higher sales in the fourth quarter of 2011, it said.
Fourth-quarter sales for the chemical business unit rose to €3.1bn, from €2.9bn, it added.
“Sales in the Chemicals segment rose significantly compared with the previous year mostly as a result of higher prices,” BASF added.
($1 = €0.75)
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