26 February 2013 06:59 [Source: ICIS news]
SINGAPORE (ICIS)--BASF posted a 13% year-on-year decrease in net profit in the fourth quarter to €980m ($1.29bn) partly due to a decline in its chemicals business, the German chemicals major said on Tuesday.
Sales in the fourth quarter of 2012 were €19.6bn, 9% higher than in the same quarter of the previous year.
Earnings before interest and tax (EBIT) before special items rose by 18% to €1.8bn, due to the significantly higher volumes in Oil & Gas as well as improved earnings in Polyurethanes and Construction Chemicals, the company said.
For the full year of 2012 BASF posted a net profit of €4.9bn ($6.4bn), compared to €6.2bn in the previous year, partly due to a decline in their chemicals business, the German chemicals major said on Tuesday.
“The Oil & Gas and Agricultural Solutions segments achieved new records, while development in our chemicals business was weaker than in 2011,” BASF said.
Sales for the full year grew by 7% year on year to €78.7bn, with operating income rising 5% year on year to €9bn, the company said in a statement.
“We aim to grow again in 2013 and exceed the 2012 levels in sales and EBIT before special items,” said Kurt Bock, Chairman of the Board of Executive Directors of BASF SE.
($1 = €0.76)
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