BASF сompared with the same quarter of 2003, sales increased by almost 13 percent to EUR9.3 billion

BASF had a very successful second quarter. Compared with the same quarter of 2003, sales increased by almost 13 percent to €9.3 billion. Income from operations (EBIT) before special items climbed 44 percent to €1.2 billion. Cumulative sales for the first half of 2004 amounted to €18.4 billion, or almost 8 percent more than in the same period of 2003. EBIT before special items increased by 32 percent to €2.3 billion in the first half.

In Europe, second-quarter sales by location of company were €5.5 billion, an increase of almost 12 percent. Sales in Germany also rose again for the first time. EBIT before special items in Europe climbed 26 percent.

According to Dr. Jürgen Hambrecht, Chairman of BASF’s Board of Executive Directors, “Our ongoing restructuring efforts and our steps to optimize our portfolio, production and business processes are successful. I am proud of the accomplishment of our employees, who implemented these measures with determination and perseverance. We have also been supported by a brightening economic climate in almost all regions and a noticeable business upturn.” BASF expects the high demand for its products to continue, but it will be a more moderate rate of increase compared with the first half of 2004. Uncertainties remain – in particular, the high energy and raw materials prices around the world.