BASF Reports Decline in Net Income on Higher Sales; Agchems and Oil & Gas Make Strong Contributions

BASF today reported a “solid start to 2012” but its first quarter 2012 net profit declined 28.5% to €1.724 billion ($2.28 billion). BASF cites much higher tax rate this year—39.6% compared with 24.7% in 2011, and the sale of K+S shares last year, which was “nearly tax free” as the main reasons. BASF’s first quarter sales rose 6% to €20.6 billion. “Increased raw material costs could not be fully passed on in all business areas, which put pressure on our margins,” says Kurt Bock, chairman of BASF. The...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers