BASF announces financial results for Q3
by ChemOrbis Editorial Team - content@chemorbis.com
According to a release on the company’s website, German chemical producer BASF reported its financial results for Q3 of 2017.
The company’s net profit increased by 50% to €1.34 billion ($1.58 billion) in the third quarter. This increase in net profit exceeded the expectations of €1.13 billion in a recent survey.
The company’s sales also rose by 9% compared with the prior-year quarter to €15.3 billion ($17.939 billion). This increase stemmed from good volumes development and significantly higher sales prices in the chemicals segment of the company.
Cash provided by operating activities of the company rose by €1.8 billion year-on-year to €7.6 billion in the third quarter of the year, mainly due to the rise in net income.
The company’s EBIT also increased from €1.5 billion to €2 billion from the same period of last year, while EBITDA rose by €570 million in Q3 to €3 billion on the year.
The company’s net profit increased by 50% to €1.34 billion ($1.58 billion) in the third quarter. This increase in net profit exceeded the expectations of €1.13 billion in a recent survey.
The company’s sales also rose by 9% compared with the prior-year quarter to €15.3 billion ($17.939 billion). This increase stemmed from good volumes development and significantly higher sales prices in the chemicals segment of the company.
Cash provided by operating activities of the company rose by €1.8 billion year-on-year to €7.6 billion in the third quarter of the year, mainly due to the rise in net income.
The company’s EBIT also increased from €1.5 billion to €2 billion from the same period of last year, while EBITDA rose by €570 million in Q3 to €3 billion on the year.
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