BASF agchem sales up 15% in Q1 2015

Sales of BASF’s crop protection rose by 14.8% to € 1,898 million in the first quarter of 2015, which was supported by increased sales in Europe and North America. BASF was able to considerably improve income from operations before special items, largely because of increased volumes and prices as well as favorable exchange rate developments (volumes 6%, prices 4%, currencies 5%).

In Europe, sales were considerably higher than in the same quarter of the previous year. BASF observed high demand earlier than expected, particularly for cereal fungicides in western Europe. BASF business was very positive, especially in the United Kingdom and Germany. The company was able to more than compensate for negative currency effects by increasing volumes and prices.

Sales rose considerably in North America, as well, largely supported by the strong U.S. dollar. BASF increased volumes and prices for herbicides, especially in our Kixor® and dicamba businesses.

Sales in Asia matched the level of the previous first quarter. Growth in China and Australia, together with positive currency effects, were able to offset the decline in Japan, where the previous first quarter had seen an extraordinarily sharp rise in sales. This had arisen from the increase in value-added tax in April 2014, which was responsible for advance purchases on the part of our customers.

Sales in South America remained slightly below the level of the first quarter of 2014. In Brazil, fungicide volumes declined mainly because of a lower incidence of fungal infections, and volumes of insecticides decreased on account of competition from generic products.