Ludwigshafen, Germany – Earnings before interest and taxation at BASF look to be 32% higher in 2017 than in 2016, at EUR 8.3 bn on sales up 12% to EUR 64.5bn.
Improvements in the Monomers, Petrochemicals and Intermediates division, which includes diisocyanates, helped the numbers.
In Q3, UTECH-polyurethane.com reported that high isocyanate prices helped this division's third quarter sales. These rose 41% to EUR 1.8 bn compared with EUR 1.3 bn in the 2016 third quarter.
However, BASF said that 2017 performance in its Functional Products division, which includes its polyurethane applications, were down on 2016. This ‘is a result of increased raw material prices, which could not be fully passed on via sale prices’, the firm said.
The company said that it plans to announce its full, audited 2017 results on 27 February 2018.
