BASF suffers drop in profits

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Balance sheet

BASF suffers drop in profits

The sharp decline in prices for Oil and Gas verhageln the chemical company BASF the business. The profit is in the last year to more than a billion euros.

In view of the continuing Gas – and Ölpreisverfalls the chemical company BASF in the past year, a drop in profits of more than a billion euros. After the on Wednesday released preliminary Figures of the world market leader is the profit before interest and taxes for 2015 is 6.2 billion euros, which is about 18 percent less than in the previous year, as BASF still 7.6 billion Euro profit reported had.

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The main reason for the lower results was the sharp decline in the Oil price at the beginning of 2015 cost of North sea Oil Brent is still around 57 dollars, there are now around 30 dollars. The world’s largest chemical company has with Wintershall, a private Oil and gas producers. In addition, the Ölpreiseinbruch the Ludwigshafen-based group in the petrochemical Segment. BASF expects that the prices in the current year remain at a low level. Also for the following years were the assumptions lowered, the group took therefore of adjustments in the Segment Oil & Gas in the amount of approximately 600 million euros.

Sales fell in the past year by five percent to 70,4 billion Euro. The decline was led by BASF especially for the separation of gas trading and Speichergeschäfts back to the Russian gas giant Gazprom. In return, received the Ludwigshafen more shares in large Erdgasfeldern in Siberia.

BASF had at the end of October its forecast due to the rapidly falling Oil price and a weak business in key emerging markets reduced. The reduced forecast of a “slight” decline in sales and adjusted operating Profit sees the group as a success.

zdh/ul (afp, rtr)