Continued growth at BASF
German chemicals firm BASF has posted improved sales for the second quarter and first half of 2008.
First half sales totalled €32.2 billion, a 10% increase compared with the prior-year period. Second quarter sales rose 11% year-on-year to €16.3 billion.
Sales were higher across all segments including an 18% rise for chemicals and a 1% increase for performance products. Growth was also recorded across all geographical regions in the first half, with sales in Europe up 15% in the first half of 2008, up 14% in North America (in dollar terms), up 19% percent in Asia-Pacific (in local currency terms) and up 16% in the South America, Africa and Middle East area.
Dr Jürgen Hambrecht, chairman of the board of executive directors of BASF SE, said: "Demand for our products remains strong, and the summer lull does not seem to be very pronounced. However, sales prices have to be increased considerably in some cases in order to pass on significantly higher raw material costs.”
