Regions :: Western Europe
Plastics and Oil Drive BASF’s Results; Agchems Boost Bayer
8:29 AM MDT | April 29, 2008 | Kerri Walsh and Ian Young
BASF reported first-quarter net income up 13%, to about €1.2 billion ($1.89 billion), on sales up 9%, to €15.9 billion, led by strong growth in the plastics, and oil and gas businesses. BASF beat consensus estimates as reported by Vara Research (Frankfurt) by 6%. Ebit before special items rose 11%, to about €2.4 billion. BASF’s chemical business reported Ebit down 7%, to €524 million, on sales up 12%, to €2.6 billion. Earnings fell as a result of a decline in margins for cracker products and decreased plant availability in the...
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