Sales in Other were EUR 947 million, about 13 percent below the third quarter of 2012. By contrast, EBIT before special items improved to minus EUR 105 million as a result of lower charges, including those from the long-term incentive program.
Business development in the regions in the third quarter
Sales for companies headquartered in Europe rose by 5 percent, especially as a result of increased volumes in the Oil & Gas segment. In the Chemicals segment, however, sales declined primarily due to lower volumes and prices. EBIT before special items grew by EUR 61 million to EUR 928 million. This was due to higher contributions from the Performance Products and Functional Materials & Solutions segments as well as improved earnings in Other.
Sales in Asia Pacific rose by 4 percent in local-currency terms, but were down by 4 percent in euro terms. Higher sales volumes were only partly able to offset the negative currency effects. Lower prices additionally reduced sales in the region. EBIT before special items declined by EUR 14 million to EUR 206 million, especially as a result of reduced margins in the Chemicals segment.
In South America, Africa, Middle East, sales rose by 8 percent in local currency terms, while they fell by 6 percent in euro terms, largely because of significantly negative currency effects. Higher volumes and prices partly offset this. Thanks to increased earnings in the Oil & Gas segment in Argentina and the successful business with crop protection products, EBIT before special items for the region improved by EUR 46 million to EUR 203 million.
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 16,600 employees in North America, and had sales of $18.5 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 had sales of EUR 72.1 billion in 2012 and more than 110,000 employees as of the end of the year. Further information on BASF is available on the Internet at www.basf.com.
Additional information is available from the internet at the following addresses:
Interim Report (from 7:00 a.m. CEST)
Press Release (from 7:00 a.m. CEST)
North American Press Release (from 7:00 a.m. CEST)
www.basf.us (English Only)
Live Transmission (from 9:00 a.m. CEST)
Speech - print version (from 9:00 a.m. CEST)
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and investors (from 11:00 a.m. CEST)
Current press photos
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This release contains forward-looking statements. These statements are based on current estimates and projections of BASF management and currently available information. They are not guarantees of future performance, involve certain risks and uncertainties that are difficult to predict, and are based upon assumptions as to future events that may not be accurate. Many factors could cause the actual results, performance or achievements of BASF to be materially different from those that may be expressed or implied by such statements. BASF does not assume any obligation to update the forward-looking statements contained in this release.
For more information contact:
John C. Schmidt
Tel: (973) 245-6405
E-mail: Email Contact
Tel: +49 621 60-99123
E-mail: Email Contact
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