BASF agchem sales up 5% in Q2 2017

Date:07-28-2017

BASF’s Agricultural Solutions segment posted an encouraging sales increase compared with the previous second quarter. Sales increased around 5% to €1,526 million in the second quarter of 2017, and sales were up by about 4% to €3,381 million in H1 2017. This was largely the result of higher volumes, especially in North America and eastern Europe, in addition to positive currency effects. Prices were slightly down compared with the second quarter of 2016.

Regional sales

Sales rose slightly in Europe, driven mainly by higher volumes. Considerable growth in the herbicides and fungicides businesses in eastern Europe more than offset lower volumes in western Europe in particular.

Sales in North America increased considerably, driven primarily by higher volumes of herbicides in the United States and fungicides in Canada. Higher prices and positive currency effects also boosted sales.

Sales grew considerably in Asia. This was predominantly an effect of higher volumes, especially of herbicides in India and fungicides in Southeast Asia. Contrasting this development were declining prices in the fungicides business in China and lower volumes in Japan.

Lower volumes were responsible for a considerable sales decline in South America, primarily in the fungicides business. In Brazil, the liquidity bottlenecks for farmers persisted in a challenging environment.

Compared with the second quarter of 2016, income from opera tions before special items in the Agricultural Solutions segment fell considerably, partly due to lower average margins brought about by a different product mix.