BASF maintains good sales performance in Q3

By CnAgri2012-10-26 19:11:44 Print BASF’s Agricultural Solutions segment sales increased significantly by 11% to €1,008 million in the third quarter of 2012 driven by successful start to the season in South America and fall business in the Northern Hemisphere. Earnings before interest, tax (EBIT) in the third quarter boosted by 77.9% to €169 million and EBITDA rose 48.9% to €204 million. In addition to improved sales volumes, currency effects also contributed positively to sales development. Earnings were considerably above the level of the previous third quarter thanks to higher volumes, notes the company.

In Europe, BASF began the fall season successfully; sales rose in all indications. The business with fungicides and canola (oil-seed rape) herbicides in western Europe was particularly positive.

Sales in North America rose considerably, especially as a result of currency effects and higher volumes. While sales volumes for fungicides fell as a result of drought in the mid-western United States, the business with herbicides in particular developed very successfully.

In Asia, sales were slightly below the level of the previous third quarter due to lower volumes. Dry weather conditions in southern Asia were largely responsible for this. The company was, however, able to raise our fungicide sales in China.

BASF improved sales in South America thanks to a very good start to the season. Demand was high for insecticides based on the active ingredient fipronil and for the fungicide F 500®. Positive currency effects additionally supported sales growth.

For first nine months, sales reached €3,802 million, up by 13.7% and EBIT was up 30.3% to €1,002 million.