9 – Minority interests
|
|
|
1st Quarter | |
|---|---|---|---|
|
Million € |
|
2016 |
2015 |
|
Minority interests in profits |
|
39 |
118 |
|
Minority interests in losses |
|
(6) |
(4) |
|
Minority interests |
|
33 |
114 |
In the first quarter of 2016, lower minority interests in profits year-on-year were mainly the result of the disposal of shares in companies active in the gas trading and storage business in connection with the asset swap completed with Gazprom on September 30, 2015. Also responsible were decreased margins and lower volumes from the reduced capacity utilization of BASF TOTAL Petrochemicals LLC’s condensation splitter in Port Arthur, Texas.
After a positive earnings contribution in the previous first quarter, BASF PETRONAS Chemicals Sdn. Bhd., based in Shah Alam, Malaysia, contributed substantially to increased minority interests in losses in the first quarter of 2016 due to plant shutdowns and lower sales prices.