BASFY BASF SE (QX)

   By Nathan Allen 
 

BASF SE (BAS.XE) said Tuesday that its fourth-quarter net profit more than doubled due in part to higher sales volumes across most of its units and higher prices for its chemical products.

Net profit for the quarter was 1.54 billion euros ($1.90 billion) up from EUR689 million a year earlier, while sales rose 8% to EUR16.10 billion, BASF said.

Earnings before interest and taxes, or Ebit, before special items was EUR1.86 billion, up from EUR1.20 billion a year earlier.

BASF attributed the rise to higher sales volumes across all its business lines except oil and gas, as well as higher earnings from its chemicals, agricultural and oil-and-gas businesses, which offset lower earnings from its functional-materials and performance-products segments.

The company said it expects slight sales growth and slight growth in Ebit before special items for 2018.

BASF said it would propose a dividend of EUR3.10 up from EUR3.00 a share for 2016.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

February 27, 2018 01:23 ET (06:23 GMT)

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