BASF Crop Protection Sales Rise 1%
24 July 2015 BASF reported that its second-quarter sales in its Agricultural Solutions segment rose by 1% to $1.86 billion, as positive currency effects and higher sales prices more than offset lower sales volumes.
EBIT before special items nevertheless fell by $74 million to $399 million. Aside from the decrease in volumes, this was also a result of increased fixed costs from the startup of new plants. First-half sales in the Agricultural Solutions segment grew by 8% to $3.94 billion compared with the first half of 2014, despite a slight decrease in volumes. At $1.03 billion, EBIT before special items reached the level of the previous first half.
BASF reduced its expectations for the global economic environment in 2015 and therefore cut its outlook for the year for the company as a whole. Chairman Dr. Kurt Bock said, “For the full year 2015, we now expect somewhat weaker growth for the global economy as well as global industrial and chemical production than was foreseen six months ago. Despite continuing high risks, we stand by our outlook for 2015: We aim to perform well and slightly increase sales in a volatile and challenging environment. We are striving for EBIT before special items that matches the level of the previous year.”
Source: BASF
Get The Newsletter Today!
