BASF posts 11% sales increase in Q3
02/11/2005
BASF continued on its growth path in the third quarter of 2005 as compared with the same quarter of 2004, sales increased by 11% to €10.4 billion. Cumulative sales for the first nine months of the year rose by more than 12% to €31 billion.
BASF’s chief financial officer, Dr. Kurt Bock, took special note of the company’s net income of €808 million: That is more than double the figure of €366 million that we posted in the same quarter of 2004.” At €2.5 billion, net income in the first nine months of 2005 exceeded the strong level for full year 2004 by almost half a billion euros.
The sales growth was primarily due to necessary price increases in all the company’s chemical segments. With these price increases, BASF responded to higher raw material prices, which resulted in additional costs of more than €1 billion in the first nine months of the year.
In the third quarter of 2005, BASF recorded higher sales in all regions. Asia remained dynamic, and the economic environment inNorth America was robust despite the hurricanes. In parts of Europe, however, economic growth was weak, especially in Germany
The sales growth was primarily due to necessary price increases in all the company’s chemical segments. With these price increases, BASF responded to higher raw material prices, which resulted in additional costs of more than €1 billion in the first nine months of the year.
In the third quarter of 2005, BASF recorded higher sales in all regions. Asia remained dynamic, and the economic environment in
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