BASF maintains impressive performance in the first half of the year
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Compared with the second quarter of 2007, all BASF business unit sales increased. Sales at BASF's Chemicals Division increased by 18%, EBIT without special items decreased by 34%, mainly due to a significant drop in profits from cracking products; the Plastics Products Division grew by 4%, excluding special interest tax Pre-benefits fell by 14%, mainly due to poor performance in North America; Specialty Chemicals grew by 1%, EBIT without special items increased by 22%, mainly due to the excellence of the nursing chemicals sector Performance; Sales of the Functional Solutions Business Unit increased by 2%, and EBIT without special items decreased by 34%. This was mainly due to the decrease in demand from the North American region's important customers, the construction and automotive industries; Due to the increase in production and prices, the Agricultural Solutions Business Unit’s sales increased by 21% in the second quarter, and EBIT without special items increased by 51%.
In terms of regions, in the first half of 2008, except for the decline in North America, sales in all BASF regions have increased in euro terms. Sales in Europe increased by 15%; sales in North America increased by 14% in U.S. dollars and by 1 percentage point in Euros; sales in Asia Pacific increased by 19% in local currencies, by Euro The calculation has increased by 8%; sales in South America, Africa and the Middle East have increased by 16% in local currencies and by 10% in euro terms.
Dr. He Binjie, Chairman of BASF's Executive Board, introduced the latest performance of BASF: “The market demand for BASF products has been maintained at a relatively high level. The second quarter and half-year report data show that we again pay close attention to customers, enhance cycle flexibility, and focus on growth. The correctness of strategies such as the sex market."