Sales in Oil & Gas in the fourth quarter grew strongly mainly due to significantly increased oil production in Libya and higher volumes from Natural Gas Trading. The start-up of additional wells in the Achimgaz joint venture also contributed to sales. EBIT before special items grew substantially. Special items of EUR 120 million were related to impairment charges on the Yme development project in Norway. Non-compensable taxes on oil production amounted to EUR 492 million. Net income decreased by 9% and was EUR 250 million. For the full year, sales rose by 39% to EUR 16.7 billion and EBIT before special items almost doubled to EUR 4.1 billion. Net income also grew to EUR 1.2 billion.
In the fourth quarter, sales in Other were around EUR 1.2 billion. These activities include the sale of raw materials, engineering and other services, rental income and leases. EBIT before special items declined by EUR 91 million mainly due to lower earnings of other businesses. In 2012, sales were EUR 4.8 billion, a decline of 24% and EBIT before special items decreased to minus EUR 839 million. This was primarily due to the divestiture of the styrenic plastics activities and the fertilizer business.
BASF - The Chemical Company
BASF Corporation, headquartered in Florham Park, New Jersey, is the North American affiliate of BASF SE, Ludwigshafen, Germany. BASF has more than 16,900 employees in North America, and had sales of $18.7 billion in 2012. For more information about BASF's North American operations, visit www.basf.us.
BASF is the world's leading chemical company: The Chemical Company. Its portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. We combine economic success with environmental protection and social responsibility. Through science and innovation, we enable our customers in nearly every industry to meet the current and future needs of society. Our products and solutions contribute to conserving resources, ensuring nutrition and improving quality of life. We have summed up this contribution in our corporate purpose: We create chemistry for a sustainable future. BASF posted sales of EUR 78.7 billion in 2012 and had more than 113,000 employees as of the end of the year. Further information on BASF is available on the Internet at www.basf.com.
On February 26, 2013, you can obtain further information from the internet at the following addresses:
BASF Report 2012
Global Press Release
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