BASF’s agrochem business up 9% in Q3 of 2011

BASF’s agricultural solutions division posted a 9% increase in sales to €908 million in the third quarter of 2011. The very good start to the season in South America made a significant contribution to this improvement. Stronger volumes growth of 12% in all regions and 3% higher sales prices more than offset negative currency effects. Earnings before interest, tax, depreciation and amortization (EBITDA) increased 23% to €137 million, and EBIT jumped 44% to €95 million.

In Europe, the fall season began successfully. The strong demand for canola herbicides in France and Eastern Europe particularly led to sales growth.

Weather-related factors in North America pushed the application period for corn and soybean fungicides into the third quarter and help the company achieve higher sales than in the same quarter of the previous year.

BASF posted high sales growth in Asia. The good development of fungicide business in India especially contributed to this success.

And also the company had a very good start to the growing season in South America. There was especially strong demand for newly launched AgCelence production system, as well as for insecticides. Sales growth was also supported by the rapid expansion of the business with the innovative herbicide tolerance technology Clearfield.

Increases in sales volumes and prices led to significantly higher income from operations before special items compared with the previous third quarter.

Nine months sales were up 5% to €3,343 million. EBITDA and EBIT were raised by 5% and 9%, respectively.