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BASF crop protection sales up 17% in Q1 2013

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Sales of BASF’s crop protection segment rose by 17.3% to €1,556 million in the first quarter of 2013 ended Mar. 31 , due to higher volumes and sales prices . Portfolio effects from the acquisition of Becker Underwood additionally also boosted sales development (volumes 13%, prices 1%, portfolio 4%, currencies –1%). Earnings rise significantly compared with previous first quarter, driven by sales volumes. Income from operations (EBIT) boosted by 17.4% to €492 million due to sales volumes. Earnings before interest, tax, depreciation and amortisation (EBITDA) was improved by 16.0% to €532 million.

BASF’s agricultural solutions results (€ million)
Q1ended Mar. 31	Q1 2013	Q1 2012	% change
sales	1,556	1,327	+17.3
EBITDA¹	532	459	+16.0
EBIT²	492	419	+17.4
¹ earnings before interest, tax, depreciation and amortisation ² earnings before interest, tax

Regional sales

The season started successfully in Europe, particularly in France, Germany and eastern Europe. The region’s considerable sales increase was mainly the result of higher volumes for herbicides and fungicides. The growing season in some applications and areas was delayed, however, due to sustained cold weather conditions.

Thanks to an early start to the season for herbicides and higher demand for new fungicide Xemium, which was able to significantly increase their sales in North America. The expansion of their portfolio resulting from the Becker Underwood acquisition also contributed to this sales growth.

Sales in Asia grew compared with the first quarter of 2012. This was mainly brought about by high demand for fungicides in China. The depreciation of the Japanese yen relative to the euro had a negative impact on sales.

In South America, sales were lower than the level of the previous first quarter. Sales of fungicides declined due to intensified competition. BASF raised sales volumes for insecticides, thereby largely compensating for lower sales prices.