Ludwigshafen, Germany – Sales in BASF's chemicals segment, which includes diisocyanates, were up 3% in the first half of 2018 at EUR 4.1bn.
This compares with EUR 4bn in the first half of 2017. Rising MDI and TDI prices propelled the monomers division to a 41% sales rise in the half.
This year, the group said sales in the chemicals segment rose slightly. This was because of higher prices, especially in the monomers and intermediates divisions, where diisocyanates are housed. Volume growth in the petrochemicals division helped but sales were hit by currency effects.
The chemicals segment recorded EBITDA of EUR 2.7bn, up 4% on the EUR 2.6bn recorded in the first half of 2017.
BASF's polyurethane applications businesses are reported in performance materials, which is in the company's functional materials segment.
Sales in the first half of 2018 for the functional materials segment rose 2% to EUR 10.7bn. This compares with EUR 10.4bn in the first half of 2017.
There was a 22% fall in EBITDA in the segment, to EUR 986m in the first half of 2018. This compares with EUR 1.3bn in the 2017 half.
Overall, BASF recorded sales of EUR 33.4 bn in the first half of 2018, up 1% on EUR 33.1 bn in the first half of 2017. EBITDA fell by 1% in the half, to EUR 6.7 bn, from EUR 6.74 bn in the first half of 2016.