General
Information
Last Update:
Mar. 10, 2011
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Part of the audited Consolidated Financial Statements and Management´s Analysis

Business review BASF Group

BASF achieved record sales and earnings in 2010. The chemicals business1 in particular benefited from the strong economic recovery in 2010, which was more dynamic than we had initially anticipated. In the first half of the year, demand was additionally driven by inventory restocking in key customer industries. There were temporary supply bottlenecks for some chemical products. Higher raw materials costs could largely be passed on to customers. In this favorable market environment, margins improved for numerous products.

Compared with 2009, sales increased by 26% to €63,873 million. Income from operations improved by 111% and amounted to €7,761 million.
More on the economic environment in 2011

1 Our chemicals business includes the Chemicals, Plastics, Performance Products and Functional Solutions segments.

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Sales and earnings (million €)

 

 

 

2010

2009

Change in %

Sales

63,873

50,693

26.0

Income from operations before depreciation and amortization (EBITDA)

11,131

7,388

50.7

EBITDA margin (%)

17.4

14.6

Income from operations (EBIT) before special items

8,138

4,852

67.7

Income from operations (EBIT)

7,761

3,677

111.1

Financial result

(388)

(598)

35.1

Income before taxes and minority interests

7,373

3,079

139.5

Income before minority interests

5,074

1,655

206.6

Net income

4,557

1,410

223.2

Earnings per share (€)

4.96

1.54

223.2

Adjusted earnings per share (€)

5.73

3.01

90.4

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Sales and earnings by quarter 2010 (million €)

 

 

1st quarter

2nd quarter

3rd quarter

4th quarter

2010

Sales

15,454

16,214

15,781

16,424

63,873

Income from operations before depreciation and amortization (EBITDA)

2,627

2,867

2,934

2,703

11,131

Income from operations (EBIT) before special items

1,954

2,206

2,213

1,765

8,138

Income from operations (EBIT)

1,840

2,079

2,155

1,687

7,761

Financial result

(80)

(93)

(105)

(110)

(388)

Income before taxes and minority interests

1,760

1,986

2,050

1,577

7,373

Net income

1,029

1,183

1,245

1,100

4,557

Earnings per share (€)

1.12

1.29

1.35

1.20

4.96

Adjusted earnings per share (€)

1.32

1.50

1.52

1.39

5.73

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Sales and earnings by quarter 2009 (million €)

 

 

1st quarter

2nd quarter

3rd quarter

4th quarter

2009

Sales

12,219

12,502

12,798

13,174

50,693

Income from operations before depreciation and amortization (EBITDA)

1,587

1,576

1,993

2,232

7,388

Income from operations (EBIT) before special items

985

1,140

1,248

1,479

4,852

Income from operations (EBIT)

928

772

971

1,006

3,677

Financial result

(202)

(59)

(173)

(164)

(598)

Income before taxes and minority interests

726

713

798

842

3,079

Net income

375

343

237

455

1,410

Earnings per share (€)

0.41

0.37

0.26

0.50

1.54

Adjusted earnings per share (€)

0.55

0.79

0.61

1.06

3.01

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