Record 2007 sales at BASF raise expectations
German chemicals company BASF has posted record financial results for 2007. The company posted sales of almost €58 billion – up more than 10% – and income of more than €7.6 billion for 2007. Fourth quarter sales were up almost 2%.
“The first weeks of 2008 have run on smoothly from the past year for BASF. The level of orders remains strong and the capacity utilisation rates of our plants are high. We therefore expect that BASF’s business will also develop positively in 2008," said chairman of the board, Dr Jürgen Hambrecht.
Its chemicals segment registered double-digit sales growth, with sales totalling
more than €14 billion in 2007. Meanwhile, sales for its performance products segment climbed more than 15% to €11.7 billion. However, the coatings and functional polymers divisions reported a decline in sales.
Sales in Europe rose 9%, while in North America sales rose 13% in local currency terms and 5% in euro terms. Sales in the Asia Pacific region rose more than 25% in local currency terms and 18% in euro terms. In the South America, Africa and Middle East region, sales increased 28% in local currency terms and 24% in euro terms.
