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

Stronger Economy Boosts Profits; Caution on Second Half

3:11 PM MDT | August 9, 2010 | —Kerri Walsh and Natasha Alperowicz

Most European chemical makers reported higher second-quarter sales and earnings, attributed to the improved global economy and the benefits of prior internal cost-saving measures. Producers say they anticipate economic growth will continue, but warn that they expect it to moderate in the second half. BASF’s total net income quadrupled, to €1.2 billion ($1.6 billion), on sales up 30%, to €16.2 billion. Profits excluding non-chemicals operations more than doubled, to about €2 billion, on sales up 38%, to €12.4 billion. The biggest gains came from the...

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