Ludwigshafen, Germany -- BASF increased sales and earnings in 2013 compared with to 2012, the company said in a statement. For the full year, sales rose by just under 3% to reach €74.0 billion, the company added.
BASF added that sales in the chemicals business, which includes the Chemicals, Performance Products and Functional Materials & Solutions segments, declined slightly despite higher volumes. This was mainly on account of negative currency effects. However earnings in the company's Functional Materials & Solutions segment was up slightly. For the full year, sales in Functional Materials rose by 1% to almost €17.3 billion primarily due to higher volumes, BASF said. EBIT before special items of about €1.1 billion was €138 million above the previous year.
Looking to 2014 Kurt Bock Chairman of the Board of Executive Directors of BASF said he " anticipates growth rates comparable with the previous year’s level and forecasts somewhat higher growth in key customer industries such as the transportation, consumer goods and electronics industries."
Bock added that ignoring the effects of divestitures and the company's large oil and gas business, he expects: " a slight increase in EBIT before special items, especially as a result of considerably higher contributions from the Performance Products and Functional Materials & Solutions segments" in 2014.