BASF Posts Higher Q4 Profit

reported a 25% surge in its fourth-quarter net profit. BASF's quarterly net profit climbed to EUR1.42 billion ($1.59 billion), versus a year-ago profit of EUR1.13 billion. Analysts were expecting a profit of EUR922 million. Its sales slipped 0.6% to EUR18.05 billion, while sales volumes surged 1%. EBIT climbed to 1.730 billion euros from 1.616 billion euros, while adjusted EBIT gained to 1.5 billion euros from 1.4 billion euros. Sales in the Chemicals segment fell 3% to 4.1 billion euros, while sales gained 1% to 3.7 billion euros in the Performance Products segment. Sales for the Functional Materials & Solutions segment climbed 8% to 4.4 billion euros, while sales in the Agricultural Solutions segment jumped 25% to 1.1 billion. Sales in the Oil & Gas segment slipped 3% to 4.0 billion euros. The company's board proposed a dividend of 2.80 euros a share, versus 2.70 euros per share last year. "The outlook for the 2015 business year is subject to significant uncertainty. Oil and raw material prices are volatile, as are currencies; the emerging markets are growing more slowly; and the global economy is being dampened by geopolitical conflict. For 2015, we nevertheless anticipate somewhat stronger growth in the global economy, industrial production and the chemical industry than in 2014," said Dr. Kurt Bock, Chairman of the Board of Executive Directors of BASF SE. BASF shares gained 0.57% to close at $97.25 yesterday.