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BASF reports lower net income, does not see upturn in chemicals demand this year

9:53 AM MDT | October 25, 2012 | Natasha Alperowicz

BASF today reported a 21% drop in third quarter net income, to €946 million ($1.23 billion), on 8% higher sales, at €19 billion. Earnings per share were €1.19, compared with €1.52 in the year-earlier quarter. Sales rose in most of the company’s segments but Ebitda dropped in all the company’s businesses with the exceptions of agricultural chemicals, and oil and gas. The latter did particularly well, following the restart of production in Libya. BASF has confirmed its outlook for the whole of 2012 but says that it does not...

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