BASF agricultural sales down 4% in Q2 2014 due to weak currency

In BASF Agricultural Solutions segment, sales declined by 3.5% to €1,666 million compared with the second quarter of 2013. This was due to negative currency effects. Sales prices were raised in all regions. Volumes remained stable. EBIT before special items was down by 10.7% to €433 million, €52 million below the previous second-quarter level, on account of negative currency effects and higher research expenses.

Regional sales

In Europe, sales matched the level of the previous second quarter. The business was very positive in Western Europe. BASF was able to almost fully compensate for negative currency effects, especially in Eastern Europe, with price increases.

Sales declined slightly in North America. Higher volumes and prices, especially for innovative herbicides and in the Functional Crop Care business unit, were only partly able to offset negative currency effects.

Sales in Asia fell considerably, due primarily to currency effects. Demand was high in China. BASF observed especially positive development in fungicides business.

Sales in South America were considerably below the prior second-quarter level as a result of lower volumes and negative currency effects. In Brazil, insecticide sales declined mainly because of high competitive pressure and unfavorable weather conditions.