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BASF reports lower first-quarter net income on higher sales, confirms 2013 outlook

9:05 AM MDT | April 26, 2013 | Natasha Alperowicz

BASF today reported a 15% drop in first-quarter net income, to €1.45 billion ($1.89 billion), and Ebit 16.5% lower, at €2.17 billion. Special income from the divestment of the fertilizer business of €645 million in the first quarter of 2012 was primarily responsible for the reduction, the company says. BASF’s first-quarter sales were up 5%, at €19.7 billion, with sales volumes growing “particularly as a result of intensified demand for crop protection products and increased volumes in the oil and gas segment,” the...

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