BASF's quarterly results, sales, up 5% year-on-year

BASF Group of Germany today told the First Financial Daily that BASF achieved double sales and profit growth in the first quarterAmong them, the company's first-quarter sales reached 19.7 billion euros, up 5% from the same period last year, with sales growth boosted by a surge in demand for crop protection products and higher sales in the oil and gas businessThe company's "interest and tax before special items" earnings rose 10 per cent to 2.2 billion eurosrx7
In the first quarter of 2013, cash flow from its operations exceeded EUR 2 billion, an increase of EUR 502 million over the same period last yearIts net debt shhone to EUR 10.9 billion at the end of The First Quarter of 2013, down from EUR 11.2 billion in the last quarter at the end of last yearrx7
By region, the company's sales in the Asia Pacific region grew 6% year-on-year (up 4% in euros)In the first quarter, sales in all business areas increased year-on-year, with regional revenue of EUR 245 million, up eur 43 million year-on-year, and contributed to earnings due to higher profits from underlying products in the Chemicals business segmentrx7
In addition, BASF sales in South America, Africa and the Middle East grew by 2% in local currency and 6% in eurosThe increase in selling prices did not fully offset adverse exchange rate factors and lower salesrx7
The European region showed good growth, with the company's sales up 8 per cent, largely due to higher salesProduction in the oil and gas business has increased significantlyIn addition, sales in the Agricultural Solutions business and catalyst business units were higher in the first quarter than in the same period last yearIn Europe, BASF earned 1.5 billion euros before interest and tax on "non-special projects", an increase of 114 million eurosrx7
In North America, local sales fell 2 percent as installations in the petrochemicals division were suspendedHowever, sales and sales in the Agricultural Solutions business segment increased significantlyrx7
BASF's forecast for the global economic environment for 2013 remains unchanged: it expects global gdp to grow by 3.4%, with average oil prices expected to be $110 a barrel in 2013rx7
BASF executives believe that the chemical industry's gross domestic product will once again grow year-on-year, thanks to growth in emerging marketsBut growth is not expected to be smooth sailing and will continue to be volatilerx7
　　BASF's major investments are located in Nanjing, Shanghai and Chongqing, with BASF Asia Pacific Innovation Park in Shanghai as a research and development hub in the Asia-Pacific region In 2012, BASF's sales in Greater China amounted to approximately 6.7 billion euros, with 8,435 employees at the end of the year At the same time, BASF has 21 main wholly-owned subsidiaries and 10 major joint ventures in Greater China rx7 The BASF Group of Germany told The First Financial Daily today that BASF achieved double sales and profit growth in the first quarter Among them, the company's first-quarter sales reached 19.7 billion euros, up 5% from the same period last year, with sales growth boosted by a surge in demand for crop protection products and higher sales in the oil and gas business The company's "interest and tax before special items" earnings rose 10 per cent to 2.2 billion euros rx7
　　In the first quarter of 2013, cash flow from its operations exceeded EUR 2 billion, an increase of EUR 502 million over the same period last year Its net debt shhone to EUR 10.9 billion at the end of The First Quarter of 2013, down from EUR 11.2 billion in the last quarter at the end of last year rx7
　　By region, the company's sales in the Asia Pacific region grew 6% year-on-year (up 4% in euros) In the first quarter, sales in all business areas increased year-on-year, with regional revenue of EUR 245 million, up eur 43 million year-on-year, and contributed to earnings due to higher profits from underlying products in the Chemicals business segment rx7
　　In addition, BASF sales in South America, Africa and the Middle East grew by 2% in local currency and 6% in euros The increase in selling prices did not fully offset adverse exchange rate factors and lower sales rx7
　　The European region showed good growth, with the company's sales up 8 per cent, largely due to higher sales Production in the oil and gas business has increased significantly In addition, sales in the Agricultural Solutions business and catalyst business units were higher in the first quarter than in the same period last year In Europe, BASF earned 1.5 billion euros before interest and tax on "non-special projects", an increase of 114 million euros rx7
　　In North America, local sales fell 2 percent as installations in the petrochemicals division were suspended However, sales and sales in the Agricultural Solutions business segment increased significantly rx7
　　BASF's forecast for the global economic environment for 2013 remains unchanged: it expects global gdp to grow by 3.4%, with average oil prices expected to be $110 a barrel in 2013 rx7
　　BASF executives believe that the chemical industry's gross domestic product will once again grow year-on-year, thanks to growth in emerging markets But growth is not expected to be smooth sailing and will continue to be volatile rx7
　　BASF's major investments are located in Nanjing, Shanghai and Chongqing, with BASF Asia Pacific Innovation Park in Shanghai as a research and development hub in the Asia-Pacific region In 2012, BASF's sales in Greater China amounted to approximately 6.7 billion euros, with 8,435 employees at the end of the year At the same time, BASF has 21 main wholly-owned subsidiaries and 10 major joint ventures in Greater China rx7