BASF increases earnings considerably in the second quarter due to higher volumes
EBIT before special items €2.1 billion (plus 12%)
BASF SE
Further implementation of the “We create chemistry” strategy
“In the past months, we continued to implement our ‘We create chemistry’ strategy. We invested in attractive business areas and were successful in the market with our innovations. In addition, we optimized businesses and increased our efficiency,” said Bock. Just a few days ago, BASF inaugurated a new production plant for mobile emissions catalysts in Sroda Slaska near Wroclaw, Poland. The company is also increasing investments in plastics and plastic precursors business in Asia. The restructuring of the Performance Products segment is on track. Through the restructuring measures in this segment, more than 2,000 positions will be reduced by the end of 2017. BASF expects an annual earnings improvement of about €500 million from 2017 onward. One-time costs are €250 to 300 million.
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