BASF posts growth in second quarter

EUROPEAN PLASTICS NEWS

Published: July 24, 2014 11:08 am ET
Updated: July 24, 2014 11:12 am ET

Image By: BASF SE Kurt Bock

Related to this story

Topics Materials, Materials Suppliers
Companies & Associations BASF SE

German chemical giant, BASF SE, has announced a 1 percent growth in sales for the second quarter of 2014 compared to the same period in 2013, reporting sales of 18.5 billion euros ($24.9 billion).

“This was largely the result of higher sales volumes in our chemicals business, which comprises the chemicals, performance products and functional materials & solutions segments, as well as in the oil & gas segment,” said Kurt Bock, chairman of the board of executive directors at the half-year earnings telephone conference.

Earnings before taxes increased by 246 million euros ($331.3 million) to 2 billion euros ($2.6 billion) compared with the previous second quarter, with share earnings rising from 1.26 euros ($1.69) to 1.41 euros ($1.89). 

Sales at BASF companies with locations in Europe rose by 1 percent in the second quarter compared with the same quarter of the previous year. 

Sales matched the previous second-quarter level in the functional materials & solutions business which includes the performance materials division consisting of polyurethanes, thermoplastics, foams and epoxy resins. Sales volumes increased considerably, primarily in the catalysts division. EBIT before special items for functional materials & solutions increased by 63 million euros ($84.8 million) to 356 million euros ($479.5 million). The company states this was largely owing to higher volumes and reduced fixed costs.

BASF recently inaugurated a new production plant for mobile emissions catalysts in Środa Śląska near Wrocław, Poland. The company also says it is increasing investments in plastics and plastic precursors business in Asia.

For 2014, BASF now expects weaker growth in the global economy than was predicted six months ago, now 2.5 percent instead of 2.8 percent. It states sales are likely to decrease slightly compared with 2013, due to the divestiture of the gas trading and storage business, as well as to continuing negative currency effects.


Comments

BASF posts growth in second quarter

EUROPEAN PLASTICS NEWS

Published: July 24, 2014 11:08 am ET
Updated: July 24, 2014 11:12 am ET

Post Your Comments


Back to story


More stories

Image

2014 sees modest sales increase, but profit decrease, for Dow Chemical

January 29, 2015 4:20 pm ET

Dow Chemical Co. delivered modest sales growth in 2014, but the firm's profit took a tumble.    More

Image

Resin prices continuing to tumble

January 29, 2015 2:24 pm ET

The ongoing slide in crude oil prices is taking commodity resin prices down as well.    More

Image

Materials firms look for stock rebound

January 29, 2015 1:52 pm ET

DuPont Co., A. Schulman Inc. and Rogers Corp. thrived amid the stock market chaos of 2014, but the other 12 publicly held materials firms tracked by...    More

Image

Chemtrusion, Mytex Indiana compounding plant set for expansion

January 29, 2015 1:35 pm ET

Japanese and American partners in a compounding plant in Indiana plan to expand the facility.    More

Image

DuPont-Chenguang JV to produce fluoroelastomers in China

January 29, 2015 12:30 pm ET

DuPont Fluoropolymer Solutions and Zhonghao Chenguang Chemical Research Institute Co. Ltd. are proceeding with a 50-50 joint venture to serve the fast...    More

Market Reports

Plastics in Automotive: Innovation & Emerging Trends

This special report newly released by PN and sponsored by The Conair Group examines current trends in the use of plastics in automotive, materials innovations and the changing landscape. It includes a review of legislative/regulatory activity impacting vehicle development and lightweighting, market opportunities & challenges for mold and toolmakers, innovative design strategies being implemented by major OEMs and suppliers, as well as a review of key indicators in Canada, Mexico, Brazil and China.

Learn more

Plastics Recycling Trends in North America

This report is a review and analysis of the North American Plastics Recycling Industry, including key trends and statistics based on 2013 performance. We examine market environment factors, regulatory issues, industry challenges, key drivers and emerging trends in post-consumer and post-industrial recycling.

Learn more

Injection Molding Market Analysis & Processor Rankings

Plastics News BUNDLED package contains our in-depth Market Analysis of the Injection Molding segment. You will gain keen insight on current trends and our economic outlook.

As a BONUS this includes PN's updated 2014 database of North American Injection Molders RANKED by sales volume. Sort, merge, mail & prospect by end market, materials processed, region, # of plants and more.

Learn more

Upcoming Plastics News Events

February 4, 2015 - February 6, 2015Plastics News Executive Forum 2015

June 2, 2015 - June 3, 2015Plastics Financial Summit - Chicago 2015

September 16, 2015 - September 18, 2015Plastics Caps & Closures - September 2015

More Events