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Chemical Week Magazine :: Business & Finance :: Europe/Mideast

Currency effects weigh on earnings, sales in first quarter

6:56 AM MDT | May 23, 2014 | CW Staff

A strong euro weighed on leading Europe-based companies’ financial results in the first quarter. However, excluding negative currency effects, companies report a slow recovery in their sales and earnings and expect the upturn to continue despite persistent uncertainty in the worldwide economy. BASF reports a 2.1% rise in first-quarter net income, to €1.48 billion ($2.02 billion), on 1.1% lower sales of €19.5 billion. Ebit before special items was down 3.3%, to €2.14 billion. Earnings per share (EPS) in the first quarter were €1.61...

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