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Germany’s BASF announces financial results for Q2

by ChemOrbis Editorial Team -
  • 24/07/2015 (14:26)
In a statement on the company’s website dated July 24, Germany’s BASF reported higher earnings for the second quarter of 2015 despite lower oil prices. Higher earnings were attributed to a strong rise in demand for synthetic materials.

BASF’s second quarter operating earnings before special effects expanded 2% to reach €2 billion ($2.2 billion) from the same quarter of 2014. Revenue, meanwhile, posted an increase of 3% year over year to €19.1 billion ($20.9 billion) in the second quarter. In addition, bottom line profit stayed stable on the year at €1.27 billion ($1.39 billion).

The company reportedly stated that improvements in their profitability were mostly due to growth in the Functional Materials & Solutions division as well as catering for the building industry.
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