Germany's BASF Sales, Earnings Decline

FRANKFURT—German chemical company BASF SE Tuesday reported a decline in its third-quarter sales and earnings, due in large part to the divestment of its gas-trading activities.

Earnings before interest and taxes before special items fell to €1.5 billion from €1.6 billion a year earlier, the company said. Sales fell 19.6% to €14 billion. The company didn't provide a net profit figure.

BASF said that its preliminary third-quarter earnings exceeded average analysts' estimates.

It reiterated its guidance for the full year, saying it expects group sales to decline "considerably," while EBIT before special items should be "slightly below" the 2015 level of €6.74 billion.

BASF will release full third-quarter results on October 27.

Write to Natascha Divac at natascha.divac@wsj.com

(END) Dow Jones Newswires

October 11, 2016 14:45 ET (18:45 GMT)

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