Ludwigshafen, Germany – BASF’s functional materials and solutions segment achieved sales of EUR4.5bn ($4.9bn) during Q3 2015 – almost the same as Q3 2014, according to its latest financial report.
The company said the segment – which includes polyurethanes – saw sales for the latest quarter match 2014 Q3 revenues “due to positive currency effects.”
The segment’s EBITDA (earnings before interest, tax, depreciation, and amortisation) rose 18% to EUR510m during Q3 compared to Q3 2014.
Figures for the segment’s first three quarters of 2015 show sales EUR14bn – 6% higher than the first three quarters of 2014.
EBITDA for the first three quarters (up to the end of September 2015) was 1.7bn – 29% higher than the corresponding period in 2014.
The report also said the earnings rose considerably “thanks mainly to contribution from its Performance Materials division.”
In its outlook for 2015, BASF has adjusted its prediction for GDP growth down a point percentage from a 2.4% growth rate to 2.3%. The company said lower volumes accounted for the Q3 figures, along with a decrease in sales revenue due mainly to lower prices.
XE Currency conversion: 27 October, 2015