In the second quarter and first half of 2008, BASF continued to show strong performance, with both sales and EBIT (excluding special items) reaching record levels. For the first six months of the year, total sales amounted to €32.2 billion, reflecting a 10% increase compared to the same period in 2007. Excluding one-time items, EBIT rose by 15% to €4.8 billion. In the second quarter alone, sales climbed 11% to €16.3 billion, while EBIT (excluding special items) surged by nearly 19% to €2.4 billion.
Looking at the business units, all divisions saw growth in sales compared to the second quarter of 2007. The Chemicals Division reported a 18% sales increase, but EBIT (excluding special items) dropped by 34%, primarily due to lower margins on cracking products. The Plastics Products Division grew by 4%, though EBIT fell by 14%, largely attributed to weaker performance in North America. The Specialty Chemicals Division saw a modest 1% sales increase, but EBIT rose sharply by 22%, driven by strong results from the nursing chemicals segment. The Functional Solutions Business Unit experienced a 2% sales growth, but EBIT declined by 34%, mainly due to reduced demand from key customers in the construction and automotive sectors in North America. Meanwhile, the Agricultural Solutions Division delivered impressive results, with sales rising 21% and EBIT (excluding special items) jumping 51%, thanks to higher production volumes and improved pricing.
Regionally, sales across all areas except North America increased in euro terms during the first half of 2008. Europe saw a 15% rise in sales, while North America recorded a 14% increase in U.S. dollars, though only a 1% gain in euros. Sales in the Asia-Pacific region grew by 19% in local currencies and 8% in euros. South America, Africa, and the Middle East also showed strong growth, with sales increasing by 16% in local currencies and 10% in euros.
Dr. Heinz Schmid, Chairman of BASF’s Executive Board, highlighted the company’s performance: “BASF continues to benefit from strong market demand for its products. The second-quarter and half-year results reflect our focus on customer needs, enhanced operational flexibility, and strategic emphasis on high-growth markets.â€
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