BASF Profit Dented by Oil, Gas Business
27 October 2016 - 5:09PM
Dow Jones News
By William Wilkes
FRANKFURT--BASF SE (BAS.XE) reported a fall in third-quarter
profit due to smaller contributions from its oil and gas segment
and reiterated its full-year outlook.
The German chemical company's net profit was 888 million euros
($968.26 million) in the three months ending Sept. 30, down 27%
from EUR1.21 billion a year earlier. BASF had released preliminary
results on Oct. 11.
Revenue declined 20% to EUR14.01 billion following the
divestiture of BASF's natural gas trading and storage business to
Russia's OAO Gazprom. Earnings before interest and taxes, EBIT
decreased 22% to EUR1.46 billion.
It reiterated its guidance for the full year.
-Write to William Wilkes at william.wilkes@wsj.com
(END) Dow Jones Newswires
October 27, 2016 01:54 ET (05:54 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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