OREANDA-NEWS. BASF increased sales by 3% in the second quarter of 2013 to just under EUR 18.4 billion thanks to higher sales volumes in all segments. Income from operations (EBIT) before special items decreased by 5% to around EUR 1.8 billion. In the first half of 2013, sales reached around EUR 38.1 billion, surpassing the level of the previous first half by 4%. EBIT before special items increased by 3% to more than EUR 4 billion.

"In light of the challenging conditions, our business performed well in the first half of 2013. Our business with crop protection products contributed substantially to sales and earnings growth. Earnings rose considerably in the Functional Materials & Solutions segment. Higher volumes in the Oil & Gas segment also boosted sales and earnings development,” said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF SE at the company’s half-year press conference.

At just under 2%, global gross domestic product grew more slowly in the first half of 2013 compared with the same period of the previous year. Global industrial production only rose by around 1% over the same period. Bock said: “The economic environment is and remains volatile. The European economy is shrinking slightly; the Chinese growth engine is no longer running at full power; the United States is growing moderately. We are clearly feeling these effects and are doing everything we can to maneuver BASF successfully through this challenging environment. ”

Based on the economic development of the first six months of 2013, the company’s estimates for the economic environment are more conservative than they were previously. BASF now forecasts the following for the global economy in 2013 (previous forecast in parentheses):
* Growth of gross domestic product: 2.0% (2.4%)
* Growth in industrial production: 2.7% (3.4%)
* Growth in chemical production: 3.1% (3.6%)
* An average euro/dollar exchange rate of USD 1.30 per euro (unchanged)
* An average oil price for the year 2013 of USD 105 per barrel (USD 110 per barrel).