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

Profits stay under pressure in Europe during first quarter

5:19 AM MDT | May 3, 2013 | CW staff

Leading European companies’ sales and earnings were under pressure in the first quarter of 2013, largely because of the challenging economic conditions in Europe and other parts of the world. Most companies maintain their full-year revenue and profit forecasts, however. BASF 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 of €645 million from the divestment of the fertilizer business in the first quarter of 2012 was primarily responsible for the...

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