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BASF Group posts earnings growth in first quarter; outlook for 2018 confirmed
04.05.2018 09:00 "Agro Perspectiva" (Kyiv) —
BASF Group posts earnings growth in first quarter; outlook for 2018 confirmed. 1st Quarter 2018: Sales of EUR16.6 billion (minus 1%) EBIT before special items of EUR2.5 billion (plus 2%) EBIT of EUR2.5 billion (plus 3%) Cash provided by operating activities of EUR1.2 billion (plus 48%); free cash flow of EUR604 million (plus ˆ538 million) Outlook for 2018: Slight sales growth, mainly resulting from higher sales volumes EBIT before special items expected to be slightly above 2017 level «We were pleased with the development in the first quarter of 2018, we have had a good start to the year,» said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF SE, commenting on the year-on-year rise in first-quarter earnings during the BASF Annual Shareholders’ Meeting at Congress Center Rosengarten in Mannheim, Germany. At EUR2.5 billion, income from operations (EBIT) before special items in the first quarter of 2018 was EUR55 million higher than in the same period of the previous year. This was mainly due to the significant improvement in earnings in the Chemicals and Oil & Gas segments. Sales declined slightly by EUR211 million compared with the first quarter of 2017 to EUR16.6 billion. This was attributable to significantly negative currency effects (‑8%) in all segments. Higher sales prices (+5%), especially in the Functional Materials & Solutions and Chemicals segments, and increased volumes (+2%) had a positive impact on sales. All segments except Performance Products recorded volumes growth.
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