Good quarterly results for BASF

The year started off well for BASF. In Q1, 2015, higher volumes and positive currency effects led to sales growth. Yr-on-yr sales grew by 3% to €20.1bn. Income from operations (EBIT) before special items was down by 2% to just under €2.1bn as a result of considerably higher charges from Other, mainly due to higher provisions for the long-term incentive (LTI) programme as a result of the positive performance of BASF shares. EBIT fell by €226M to €2.0bn yr-on-yr. The previous first quarter had included tax-free special income from the disposal of shares in non-BASF-operated oil and gas fields in the British North Sea. At minus €164M, the financial result was higher yr-on-yr (-€183M).

Income before taxes and minority interests fell by €207M yr-on-yr to €1.8bn. Net income declined by €290M to €1.2bn. Earnings/share were €1.28, compared with €1.59 yr-on-yr.