BASF: Stabilization in the third quarter

BASF’s figures for the third quarter of 2009 demonstrate the company’s operational strength in the global economic crisis. Third-quarter sales increased by 2% compared with the second quarter but fell 19% compared with the same period of 2008. Income from operations (EBIT) before special items was 9% higher than in the second quarter and 20% lower than in the third quarter of 2008. All operating divisions contributed positive earnings. BASF’s strong cash flow increases the company’s financial strength and has enabled it to reduce debt. 

Due to a decline in the use of fungicides and herbicides, sales in the Agricultural Solutions segment were 2% lower than in the third quarter of 2008. Lower sales volumes and higher spending on research and development negatively affected earnings, which were slightly lower than in the third quarter of 2008. Business started successfully in the new growing season in South America. For full year 2009, BASF expects an EBITDA margin of more than 25%.