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Sales fall 29%, EBIT falls 8%.
April 29, 2016
By: TOM BRANNA
Editor
The divestiture of the gas trading and storage business led BASF Goup to report a 29% decline in Q1 sales. Group sales plunged 29% to €14.2 billion ($16.2 billion at current exchange rates). The gas trading and storage business had contributed to E4.2 billion in sales.The company said earnings before interest and taxes before special items fell 8% to €1.9 billion. BASF said the lower price of oil led to declining sales prices, especially in the chemicals segment. Overall sales volumes match...
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