BASF's Q1-08 sales record 9% rise

Q1-08 sales of BASF SE, Germany, have recorded a 9% rise to EUR 15.9 bln, while income from operations (EBIT) before special items rose by over 11% to almost EUR 2.4 bln as against the same period last year. Higher volumes and prices have contributed significantly to Q1 rise in sales in the Chemicals segment. All divisions contributed to the increase in sales with double-digit growth rates. The excellent earnings level achieved in the same quarter of the previous year was not reached, mainly due to a decline in margins for cracker products and decreased plant availability in the Petrochemicals division. The Plastics segment posted a slight increase in sales compared with Q1-07. Increasing sales in the Polyurethanes division due to persistent robust global demand offset the slight currency-related decrease in the Performance Polymers division.
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