BASF's Quarterly Results Rise on Improved Economic Conditions; 'Generally Good Outlook' for 2011

Improved economic conditions drove BASF’s fourth-quarter 2010 sales and profit growth. Ebit before special items rose 35%, to €1.2 billion excluding the oil and gas business, on sales up 28%, to €11.9 billion. BASF’s total net income more than doubled, to €1.1 billion on sales up 25%, to €16.4 billion. Ebit before special items rose 19%, to €1.8 billion. That figure, however, includes a total of €200 million in costs related to higher provisions for the long-term incentive program as a result of the increase in...

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