Despite declining demand, BASF increases sales and earnings in the third quarter of 2014
“The economic environment remained challenging in the third quarter of 2014. Geopolitical tensions and increasing uncertainty about the global economic development significantly dampened demand for chemical products. Nevertheless, sales and earnings of BASF Group increased in the third quarter of 2014,” said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF SE.
EBIT grew by €128 million to €1.8 billion compared with the third quarter of the previous year. EBITDA rose by €30 million to €2.5 billion. Income before taxes and minority interests increased by €126 million quarter-on-quarter to €1.6 billion. Because of the higher tax rate and increased minority interests, net income declined by €53 million to €1.0 billion. Earnings per share were €1.14 in the third quarter of 2014, compared with €1.20 in the same quarter of 2013. Adjusted for special items and amortization of intangible assets, earnings per share amounted to €1.27, remaining at the same level as the previous third quarter (€1.28).
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