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BASF Q3 profit up 50%

BASF
BASF   Earnings per share rose to 1.45 euros

BASF reported that its third-quarter net income grew 50 percent to 1.34 billion euros from 888 million euros a year ago.


Earnings per share rose to 1.45 euros from 0.97 euros last year.

Adjusted for special items and amortization of intangible assets, earnings per share amounted to 1.40 euros, compared to 1.10 euros a year ago.

Income from operations or EBIT rose 34 percent to 1.96 billion euros from 1.46 billion euros in the year-ago period, and EBIT before special items increased to 1.76 billion euros from 1.52 billion euros last year, reflecting strong contribution from the chemicals segment.

Sales revenue for the quarter grew 9 percent to 15.26 billion euros from 14.01 billion euros last year. This was primarily attributable to good volumes development as well as significantly higher sales prices in the Chemicals segment. Sales were also lifted by the Chemetall business, acquired in December 2016.

Looking ahead to fiscal 2017, BASF maintained its outlook with the exception of the forecast for EBIT after cost of capital.

The company continues to expect a considerable increase in sales for the full year as well as a considerable increase in EBIT before special items and EBIT.

The company now expects a considerable increase in EBIT after cost of capital, compared to its earlier forecast for a slight increase in EBIT after cost of capital.

 

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