BASF: Considerable earnings growth in second quarter, 2017 outlook raised – BASF growth 2017 outlook - Arhive
BASF growth 2017 Outlook BASF growth 2017 Outlook BASF growth 2017 Outlook BASF growth 2017 outlook BASF growth 2017 outlook
BASF: Considerable earnings growth in second quarter, 2017 outlook raised
2nd quarter 2017:
Sales of €6.3 billion (up 12%)
EBIT before special items of €.3 billion (up 32%)
Earnings per share of €.63 (up 37%), adjusted earnings per share of €.78 (up 37%)
Cash provided by operating activities of €.0 billion (up 29%), free cash flow of €.1 billion (up 59%)
Outlook for 2017:
Considerable sales growth still forecast
EBIT before special items now expected to considerably exceed previous year
“The positive demand trend continued in the second quarter of 2017. We increased our year-on-year sales volumes for the fifth consecutive quarter. Compared with the same quarter of last year, we considerably improved our sales and earnings,” said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF SE.
BASF Group sales rose by 12% to €6.3 billion compared with the second quarter of 2016. This was largely attributable to higher prices and volumes. Amid higher raw material costs, the company raised sales prices by 7%; this was mainly driven by higher prices in the Chemicals segment. Sales volumes increased by 3%. Currency effects had a positive impact on sales and, like portfolio effects, accounted for a 1% increase.
