Record 2010 sales anticipated at BASF
21/10/2010
Third-quarter sales rose 23% to EUR15.8 billion, flat with sales during the second quarter. Sales for the first nine months of 2010 grew 27% to EUR47.5 billion.
The company now expects 2010 sales to reach EUR63 billion, exceeding sales during the company’s peak years, 2007 and 2008.
Jürgen Hambrecht, chairman of the board of executive directors at BASF said: “The record figures reflect the dynamics in our businesses, our improved portfolio and operational excellence, which have been able to show their full impact in the current favourable economic environment.”
However, Dr Hambrecht says the company is cautiously optimistic about the future. “The positive economic development of the past months will not necessarily continue at the same pace in 2011,” he said. “Risks also remain which could jeopardise a sustainable recovery.
“The high debt level of many countries threatens the stability of the financial and banking systems. The necessary reduction in government spending and the winding down of national stimulus programs could dampen overall demand.”
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