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Share Name | Share Symbol | Market | Type |
---|---|---|---|
BASF AG | TG:BAS | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
1.22 | 2.55% | 48.815 | 48.725 | 48.90 | 48.90 | 47.55 | 48.11 | 552,297 | 22:50:04 |
By Christopher Alessi
LUDWIGSHAFEN, Germany-- BASF SE on Friday reported a 25% rise in net profit for the fourth quarter, boosted by strong growth in its chemicals businesses.
The world's largest chemicals company said net profit for the three-month period ended Dec. 31 was EUR1.42 billion ($1.59 billion), compared with EUR1.13 billion a year earlier. Analysts had predicted a net profit of EUR922 million, according to a recent poll by The Wall Street Journal.
Sales declined 0.6% to EUR18.05 billion, damped by falling sales prices due to low oil prices. The company's closely watched earnings before interest and taxes before special items rose 2.8% to EUR1.46 billion, a result of higher profit margins in the petrochemical and agrochemical units.
But the company was held back by a sharp earnings decline in its oil and gas business, a result of the plunge in global oil prices. Fourth quarter EBIT before special items at the unit fell 40% to EUR347 million.
BASF's wholly owned oil and gas division, Wintershall AG, generates roughly 30% of the group's cash flow. A shift up or down in the annual price of Brent crude oil by $1 a barrel impacts EBIT at Wintershall by EUR15 million, according to BASF.
BASF said it expects a slight increase in sales for 2015 and for EBIT before special items to match the level it achieved in 2014, at EUR7.36 billion.
Write to Christopher Alessi at christopher.alessi@wsj.com
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