BASF net income slides, no chemicals upturn this year

BASF reported a 21% drop in third-quarter net income, to €946 million ($1.23 billion), on sales 8% higher, 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 businesses but Ebitda dropped in each business with the exceptions of agricultural chemicals, and oil and gas. The oil and gas business performed particularly well, following the restart of production in Libya. Bock: Expecting to exceed 2011 record sales and Ebit. BASF confirmed its outlook for the...

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