BASF Reports Improved Fourth Quarter, Full Year 2014 Earnings
BASF Group recently announced fourth quarter 2014 sales of €18 billion (~ $20 billion), compared to €18.1 billion (~ $20.1 billion) in the same period last year. Sales volumes increased by 1%. Sales of €74.3 billion (~ $82.7 billion) in 2014 nearly matched the previous year’s sales of €74 billion (~ $82 billion). Sales volumes increased in all segments in 2014. Overall volumes grew by 4%. Prices decreased by 3%, reportedly due to significant decreases in oil and gas prices.
“We achieved our goal for 2014,” said Kurt Bock, Ph.D., chairman of the Board of Executive Directors for BASF SE. “We increased earnings—despite the disappointing economic development in Europe. We grew profitably. We further strengthened our chemicals business and in turn improved our margins. We have our costs firmly under control. This is an outstanding achievement of the entire BASF team.”