In a weaker than expected market environment, BASF sales in the third quarter of 2015 were €17.4 billion, 5 percent below the level of the previous third quarter.
However, the company saw sales volume increases in its Agricultural Solutions segment. Compared with the previous third quarter, sales rose by 6% to €1.1 billion in the Agricultural Solutions segment through higher volumes and prices. The sharp depreciation of the Brazilian real resulted in negative currency effects. EBIT before special items declined by €36 million to €7 million. This was largely the result of higher costs arising primarily from capacity increases and inventory reduction.
“We experienced a pronounced summer lull and no volume momentum in September. Major markets like Brazil are in a recession or face lower growth rates, such as China,” said Kurt Bock, chairman of the board of executive directors of BASF SE.
More information is available here: https://www.basf.com/en/company/news-and-media/news-releases/2015/10/p-15-369.html
