BASF Reports Fourth-Quarter Operating Income Down

BASF reported fourth-quarter net income up 8.3%, to €793 million ($1.7 billion), on sales up 1.6%, to €17.7 billion. Operating income fell 3.4%, to €1.6 billion. The chemicals business’s operating income before special items fell 47%, to €314 million because of scheduled plant turnarounds that lasted longer than expected in the petrochemicals segment, BASF says. Sales from the chemicals business slipped 1%, to €3.4 billion. The plastics business reported operating income before special items up 36.4%, to €345 million, on sales up 1.4%, to €3.3...

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