BASF stars in the Great Escape with steady earnings
15 Jan 2000
The last of the German chemical behemoths, BASF, claims to have escaped from the boom-and-bust switchback of the chemicals cycle. 'More than half of our sales revenue now comes from business sectors that are independent of, or resilient to, cyclical trend
BASFposted pre-tax up 20.8 per cent in 1997, to DM5.3billion, while sales soared 14 per cent to DM55.8billion.
The anti-cyclical businesses were not the largest contributors to the performance, but still turned in impressive results. Health and nutrition was bolstered by the acquisition of a corn herbicide operation in the US, which doubled North American crop protection earnings. BASFpharmaceuticals increased its sales by 16 per cent, to DM4.1billion, with double-digit sales growth for the thyroid drug Synthroid. Colorants and finishing products increased sales by one-third.
