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BASF Reports Lower-than-Expected Earnings and Sales, Citing Slowing Growth

2:28 AM MDT | July 28, 2011 | Natasha Alperowicz

BASF today reported flat second quarter income from operations (Ebit) before special items of €2.2 billion ($3.2 billion) on sales 14% higher at  €18.5 billion compared with the year-earlier period, despite the suspension of oil production in Libya. The Libyan activities contributed an Ebit before special items of €280 million in the second quarter.  The inclusion of Cognis made a positive contribution to sales, the company says. On a comparable basis, Ebit before special items increased by 16%. Growth rates “have normalized”...

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