BASF reports higher sales and earnings, optimistic about 2013

BASF today reported significantly higher sales and earnings for fourth-quarter and full-year 2012 and expressed optimism about 2013. Addressing the media in Ludwigshafen, BASF chairman Kurt Bock said that the company exceeded its 2011 record levels in sales and Ebit and "once again earned a substantial premium on the cost of capital." This was achieved despite a challenging environment with overall economic growth significantly weaker than was expected at the start of 2012. "Growth in worldwide chemical production, excluding pharmaceuticals, slowed from 3.8% to...

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