Ludwigshafen, Germany -- BASF announced Q3 2014 sales of EUR18.3bn ($23.1bn) - a 3.3% increase on Q3 2013 sales.
The company’s EBITDA (earnings before interest, depreciation and amortisation) was reported as EUR2.5bn, which BASF said amounted to a 1.2% increase on last year’s Q3 figure, or EUR30m.
The company’s functional materials & solutions segment sales exceeded the level of the third quarter of 2013 by 2%.
Kurt Bock, chairman of the board of executive directors of BASF SE, said: “The economic environment remained challenging in the third quarter of 2014.
“Geopolitical tensions and increasing uncertainty about the global economic development significantly dampened demand for chemical products. Nevertheless, sales and earnings of BASF Group increased in the third quarter of 2014,” he added.
Prices could be raised in most business areas, more than compensating for negative currency effects. Demand remained strong from the automotive industry, especially in the catalysts division and earnings increased by EUR10m to EUR310m, mostly through considerably higher contributions from the coatings and catalysts divisions, said the company’s report.
North American sales rose by 3% and also increased by 4% in Asia Pacific across both local and European currency terms during Q3 2014 compared to the same period last year.
In South America, Africa and the Middle East, sales grew by 8% in local-currency terms and 4% in European terms. Sales at companies located in Europe grew by 3% compared with the previous third quarter.
A press release issued by the company today said the chemicals segment sales matched the level of the previous third quarter but Asia was difficult and sales volumes declined in Europe. Sales in the performance products segment reached the level of the previous third quarter and volumes increased significantly in the performance chemicals division.
XE Currency conversion: 24 October, 2014
