BASF SE has reported sharp falls for both profit and sales in 2015.
The German chemical giant has said its sales figures dropped 5 percent to 70.4 billion euros ($76.7 billion), while earnings before interest and tax (EBIT) and before special items is expected to be 6.7 billion euros ($7.3 billion), down 9.5 percent from its total of 7.4 billion euros ($8 billion) in 2014.
The decline in EBIT before special items was due in particular to significantly lower earnings in the oil, gas and chemicals segments of the business in the fourth quarter of 2015, compared with the same period in 2014, the Ludwigshafen, Germany-based firm said. In its chemicals segment, this was mainly due to lower margins in the petrochemicals division.
BASF said it anticipated that oil and gas prices would remain at a low level in 2016.
The firm added that it would publish its full financial numbers for 2015 on Feb. 26, when it would also comment on the figures.