BASF Reports Lower Net Earnings, Cites Slowdown in China; Maintains Full-Year Outlook

BASF reported a 15.5% decrease in second-quarter 2012 net profits compared with the corresponding period of 2011, to €1.2 billion on sales up 5.5% year-on-year, to €19.5 billion. Adjusted earnings per share (EPS) declined almost 9%, to €1.60. Second-quarter operating income (EBIT) before special items rose 11%, to €2.5 billion. Sales volumes declined in BASF's chemicals business—comprising the chemicals, plastics, performance products, and functional solutions segments—but the company achieved growth in its oil and gas segment...

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