BASF agchem sales up 18% in Q2 2013

Sales of BASF’s crop protection segment rose by 17.7% to €1,727 million in the second quarter ended June 30, 2013 , particularly as a result of the good season in North America and Europe. They were able to raise sales volumes in all regions and indications with higher prices overall. Sales were increased by the acquisition of Becker Under wood. The portfolio changes and higher prices boosted sales by 3%,while volumes added 14%.

For the second quarter of 2013, Earnings before interest, tax, depreciation and amortisation (EBITDA) was improved by 16.9% to €525 million, while earnings before interest, tax(EBIT) was boosted by 17.1% to €485 million, which was mostly attributable to higher sales volumes and increased prices. The acquisition of Becker Underwood and the successful integration of the acquired activities had a positive effect on earnings.

Sales grew significantly in North America,due to increased demand for the innovative fungicide Xemium ® and the herbicide Kixor ®. The expansion of their portfolio from the Becker Underwood acquisition also contributed to this rise in sales.

Sales in Asia grew considerably. This was largely brought about by higher demand for fungicides in China and for herbicides in India. Sales growth was reduced by negative currency effects from the weakening of the Japanese yen and Indian rupee against the euro.

In South America, higher demand for insecticides and for their fungicide F 500® led to a substantial sales increase.

For the first half year of 2013, BASF’s crop protection sales were up by 17.5% to €3,283 million year-over-year. Earnings before interest, tax, depreciation and amortisation (EBITDA) was climbed by 16.4% to €1, 057 million, while earnings before interest, tax (EBIT) was boosted by 17.3% to €977 million. Fungicides contributed 44% of first half sales, followed by herbicides(38%)and insecticides and other products(18%).Europe made up 43% of the total and North America with 34%, followed by South America, Africa and the Middle East (13%) and Asia Pacific (10%).